4.02.2008

Competitive devaluation begins

You knew it couldn't last -- Euro Currency Board resolve to defend their currency as the Fed destroyed the dollar. Airbuses just aren't competitive against Boeings when the dollar is 50% off.

So the competitive devaluation begins.

Euro falls on speculation European consumer demand faltering, ECB may cut rates.

And continues.

Singapore May Slow Currency Gains to Aid Exporters at Expense of Inflation

What to do when countries around the world get into competitive devaluation to make their exports attractive? Hmmm.... what's the one store of value that dirty central bankers can't print? That's right, GOLD! And it's 10% off its recent high -- a perfect buying opportunity for you.

As the Realtors used to say, "Buy now or be priced out forever."

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