Bye Bye Dollar!

We have seen this so many times, it is not even news any more. Thanks to the Helicopter and Hank "I Support Strong Dollar" PaulSIV, the dollar is dropping again.

Gold is up to $850 and oil is about $98. Can you say $100 oil? Just to remind everyone, Goldman told everyone to take profit at $93 oil.

Now the Chinese are talking about diversifying out of the dollar. Note to Congress: Be careful what you wish for. At this time, we should be begging the chinese to keep the peg. Instead, in a world where the Chinese are the only one buying dollar, we are telling them to sell the dollar. Shows how smart our politicians are.

It's kind of like you having 9 credit cards with high interest and 1 credit card with artificially low interest. So now we start complaining to the credit card company that the interest is too low!

Hey Ben, the street wants another cut.

http://www.marketwatch.com/news/story/dollar-slumps-top-china-official/story.aspx?guid=%7B49785919%2D0D1E%2D4E6A%2DBF51%2DD1DD1D2A874E%7D