Friday, May 29, 2009

Time To Short The US Dollar

I've held this opinion for a couple of months now, but the signs keep on piling up. I'm probably going to actually take some action on this with some actual money. So in the interests of coming back later and telling everyone I told you so, I just want to get this out there on the record.

Short the US Dollar RIGHT NOW.

Probably the ideal time to have done this was the day Barack Obama signed the stimulus (porkulus) bill into law. Back then everyone else in the world was fleeing to the dollar, or being forced to unwind their investments which forced the dollar back up.

My opinions line up exactly with the reccomendations of Peter Schiff of Euro Pacific Capital. Buy international stocks, build up foreign currencies, or at the very least get an account with a currency trading firm and short the dollar. Buy the Yen, or the Euro, or the Canadian Dollar, or the Aussie. Or whatever. Get. Out. Of. Dollars.

Here are a couple of links that I highly reccomend you check out.

This first one is a blog I check everyday. Full of useful info.
www.calculatedriskblog.com

This second one is a story I found that calculated risk linked to and it turns out to be full of very good info.

Tim Duy's Fed Watch

Seriously. Click on the links. Check things out. Lots of good info.

2 comments:

Mark said...

My vote would be for the Canadian Dollar. Captain Capitalism finds that Canada is now the most economically free, and I've been following its currency since then. It's been doing well against just about every currency.

http://www.google.com/finance?q=CADUSD

Big Jay said...

Yeah, all commodity based currencies are going to do fine.