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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
 Posted - 08/20/2008 : 18:00:23
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Casey Files:
"I'm from the Government and I'm Here to Help"
Fitzroy McLean
Key Excerpt
-Kuwait has been the most hawkish of the GCC about the dollar, at least publicly. The country, which has the world's most highly valued currency (its currency unit buys the most of any other currency unit), made the change in preparation to switch to the proposed GCC single currency, the Khaleeji,
when it debuts in 2010 across Saudi Arabia, the UAE, Qatar, and Kuwait.
As long as the world's energy trade balance favors the Gulf, our expectation is that the new currency will perform well against the dollar and euro, and it is likely that other members of the currency bloc will flirt with de-pegging prior to 2010.
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While we can't be 100% sure that the dollar will decline due to this new Middle-Eastern currency, we can be sure that inflation isn't going away any time soon, so loading up on gold, silver, nickel and copper seems like the thing to do.
I plan to buy more gold, silver, copper and nickel by December 2009 before this new currency gets minted and/or printed. It wouldn't hurt for other forum members to do the same.
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2010, Deadline for the Dollar?
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