[quote=partypup]
If the Fed does not intend to raise interest rates – and let’s face it, they can’t – then we really are witnessing the end of the buck – first as a reserve currency (which has technically already happened over the last 2 months as banks have radically shifted their allocation of reserves), then as a currency, period. I suspect the first milestone will officially be crossed at the end of the month. By the end of next year, I think we will be hearing Congress and Obama bleat about developing a new currency/alternative to the dollar.[/quote]
Wow, now you’ve gone on record: end of 2010 we get a new currency if the Fed does not raise interest rates.
I admire your willingness to go on record with something so radical. I don’t think I agree with you, but I certainly respect your convictions.
I’m still kicking my arse for not heeding your warning in Sept 2008 and not moving my 401K monies, I would be so much happier right now had I pulled out and jumped back in this summer. Argh.
