Comments on: Watch out for the dollar http://sovereignspeculator.com/2009/09/28/watch-out-for-the-dollar/ Thoughts on the markets and the decline of the west Mon, 20 Dec 2010 16:33:27 +0000 http://wordpress.org/?v=2.6 By: Pej http://sovereignspeculator.com/2009/09/28/watch-out-for-the-dollar/#comment-6366 Pej Wed, 14 Oct 2009 13:55:11 +0000 http://sovereignspeculator.com/?p=2839#comment-6366 While Mike is on long holiday probably enjoying sunshine in the Seychelles or somewhere... I just a follow up on the comment I made two weeks ago: I have now open a small short EUR long USD position. While Mike is on long holiday probably enjoying sunshine in the Seychelles or somewhere…

I just a follow up on the comment I made two weeks ago: I have now open a small short EUR long USD position.

]]> By: RLS http://sovereignspeculator.com/2009/09/28/watch-out-for-the-dollar/#comment-6327 RLS Mon, 12 Oct 2009 13:09:16 +0000 http://sovereignspeculator.com/?p=2839#comment-6327 Not sure what the catalyst will be- my work is telling me that we make a top over the next day or two and begin to roll over into mid to late November. Looking for a 15-18% correction Not sure what the catalyst will be- my work is telling me that we make a top over the next day or two and begin to roll over into mid to late November. Looking for a 15-18% correction

]]> By: Aki_Izayoi http://sovereignspeculator.com/2009/09/28/watch-out-for-the-dollar/#comment-6322 Aki_Izayoi Mon, 12 Oct 2009 01:06:23 +0000 http://sovereignspeculator.com/?p=2839#comment-6322 I do not know what to think... I think the dollar has about 1-2% more to fall though. I heard East Asian central banks are buying dollars to slow the rise in their currencies. Well, Japan tried to do this in 2003, and they had more firepower though. Should Central Bank buying be seen as an indicator the dollar has further to fall? I do not know what to think… I think the dollar has about 1-2% more to fall though.

I heard East Asian central banks are buying dollars to slow the rise in their currencies. Well, Japan tried to do this in 2003, and they had more firepower though. Should Central Bank buying be seen as an indicator the dollar has further to fall?

]]> By: Matt Damon http://sovereignspeculator.com/2009/09/28/watch-out-for-the-dollar/#comment-6309 Matt Damon Thu, 08 Oct 2009 21:52:44 +0000 http://sovereignspeculator.com/?p=2839#comment-6309 Mike: Even if you think my comments are "rude", it increases the participation level on your blog. Dissenters - even those who do not adhere to the niceties you expect of them - have value. They enrich the discussion by bringing different points of view to the table. Let me make up for this last intrusion on your peaceful little world by offering an advice 100% guaranteed to make you money - buy gold now. And if this advice (or any advice for that matter) makes you cringe to your very core - pay special attention to it. Our own mind is the best contrarian indicator we can use. Mike:
Even if you think my comments are “rude”, it increases the participation level on your blog. Dissenters - even those who do not adhere to the niceties you expect of them - have value. They enrich the discussion by bringing different points of view to the table. Let me make up for this last intrusion on your peaceful little world by offering an advice 100% guaranteed to make you money - buy gold now. And if this advice (or any advice for that matter) makes you cringe to your very core - pay special attention to it. Our own mind is the best contrarian indicator we can use.

]]> By: Graphite http://sovereignspeculator.com/2009/09/28/watch-out-for-the-dollar/#comment-6304 Graphite Thu, 08 Oct 2009 08:00:15 +0000 http://sovereignspeculator.com/?p=2839#comment-6304 "Sorry, but this is what you get for surrounding yourself with yes-men like Graphite." Funny, I just sent Mike an email tonight saying I was short-term bearish the dollar based on some DSI indications and the weak looking chart on the DX. My long euro futures position is up nicely from where I entered it this evening. Gold may still have a *little* room to run here as there has been some lingering doubt of this rally and the goldbugs have yet to all pile in and reach Matt Damon levels of bullish triumphalism. Another $20 or $30 an ounce might do it though. Meanwhile gold is still languishing in terms of every other currency besides the US dollar, and in terms of inflation-adjusted dollars as well. “Sorry, but this is what you get for surrounding yourself with yes-men like Graphite.”

Funny, I just sent Mike an email tonight saying I was short-term bearish the dollar based on some DSI indications and the weak looking chart on the DX. My long euro futures position is up nicely from where I entered it this evening.

Gold may still have a *little* room to run here as there has been some lingering doubt of this rally and the goldbugs have yet to all pile in and reach Matt Damon levels of bullish triumphalism. Another $20 or $30 an ounce might do it though. Meanwhile gold is still languishing in terms of every other currency besides the US dollar, and in terms of inflation-adjusted dollars as well.

]]> By: Pej http://sovereignspeculator.com/2009/09/28/watch-out-for-the-dollar/#comment-6301 Pej Wed, 07 Oct 2009 22:58:40 +0000 http://sovereignspeculator.com/?p=2839#comment-6301 It seems odd to me that every now and then a frustrated loser shows up in this blog's forum... I have often disagreed with Mike so I'm not a yes-sayer as you call them. But still I'm impressed that he generates that kind of reactions among these losers who cannot even come up with their track record or link to their own blogs even when requested. It seems odd to me that every now and then a frustrated loser shows up in this blog’s forum…

I have often disagreed with Mike so I’m not a yes-sayer as you call them. But still I’m impressed that he generates that kind of reactions among these losers who cannot even come up with their track record or link to their own blogs even when requested.

]]> By: Matt Damon http://sovereignspeculator.com/2009/09/28/watch-out-for-the-dollar/#comment-6300 Matt Damon Wed, 07 Oct 2009 22:48:47 +0000 http://sovereignspeculator.com/?p=2839#comment-6300 "I am pretty sure Mike is not hurt as he mainly trades options." Do you even know what an option is? “I am pretty sure Mike is not hurt as he mainly trades options.”

Do you even know what an option is?

]]> By: PEJ http://sovereignspeculator.com/2009/09/28/watch-out-for-the-dollar/#comment-6299 PEJ Wed, 07 Oct 2009 22:08:36 +0000 http://sovereignspeculator.com/?p=2839#comment-6299 Matt Damon: Emotions are banned when trading, and I am pretty sure Mike is not hurt as he mainly trades options. But hey, when convinction is there, one does not see pain in these but opportunities to add to their positions. That said, I would like see your track record in the past 3 years :-) Matt Damon: Emotions are banned when trading, and I am pretty sure Mike is not hurt as he mainly trades options. But hey, when convinction is there, one does not see pain in these but opportunities to add to their positions.

That said, I would like see your track record in the past 3 years :-)

]]> By: Matt Damon http://sovereignspeculator.com/2009/09/28/watch-out-for-the-dollar/#comment-6298 Matt Damon Wed, 07 Oct 2009 21:54:17 +0000 http://sovereignspeculator.com/?p=2839#comment-6298 Still waiting for the "disappointing" fall in Gold Mike. And how's that long dollar trade workin out for ya. I thought we just solved the Social Security problem with "deflation". Well, I guess maybe not. Oops! Did I just hurt your emotions? Sorry, but this is what you get for surrounding yourself with yes-men like Graphite. Still waiting for the “disappointing” fall in Gold Mike. And how’s that long dollar trade workin out for ya. I thought we just solved the Social Security problem with “deflation”. Well, I guess maybe not. Oops! Did I just hurt your emotions? Sorry, but this is what you get for surrounding yourself with yes-men like Graphite.

]]> By: golfboy http://sovereignspeculator.com/2009/09/28/watch-out-for-the-dollar/#comment-6295 golfboy Wed, 07 Oct 2009 16:07:36 +0000 http://sovereignspeculator.com/?p=2839#comment-6295 The entire 20th century stands as a monument to the folly (and the evil) of statism. Those who have not learned from these horrors are condemned to relive them -- must the rest of us suffer, too? This economic crisis was caused, in large part, because government failed in some of its basic responsibilities: (1) defend property rights; (2) protect against fraud and abuse; (3) enforce contracts; and (4) preserve the value of our currency and (5) let the market determine prices. Instead, government (under both major parties) institutionalized fraud, picked winners and losers in the marketplace, went on an unfathomable spending binge, distorted with the pricing of labor and capital, extended its control over vast portions of the economy. And that is just the tip of the iceberg. We as a society deserve blame, not just for choosing these political leaders, but for participating in the two-decade debt-fueled orgy of consumption. Now comes the bill. Do we pay it now, or steal it from our children? The political class is apparently choosing the latter. The entire 20th century stands as a monument to the folly (and the evil) of statism. Those who have not learned from these horrors are condemned to relive them — must the rest of us suffer, too?

This economic crisis was caused, in large part, because government failed in some of its basic responsibilities: (1) defend property rights; (2) protect against fraud and abuse; (3) enforce contracts; and (4) preserve the value of our currency and (5) let the market determine prices. Instead, government (under both major parties) institutionalized fraud, picked winners and losers in the marketplace, went on an unfathomable spending binge, distorted with the pricing of labor and capital, extended its control over vast portions of the economy. And that is just the tip of the iceberg.

We as a society deserve blame, not just for choosing these political leaders, but for participating in the two-decade debt-fueled orgy of consumption. Now comes the bill. Do we pay it now, or steal it from our children? The political class is apparently choosing the latter.

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