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RE: Contortions of US Dollar: A Short-term Rally before Longer-term "Obl
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John Gelles
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Oct 30, 2009 23:19 PST
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The thought may be:
I believe the dollar's long-run destiny is more or less oblivion.
Can this be meaningful during the 9 decades left in this century?
It is hard to imagine it can.
As the dollar declines it repositions itself to compel us to return to
production of all we need and buy.
If this is so, the dollar will go down to, say 20 cents. Then it will go
back up -- to five dollars (compared to today's $1 worth of purchases.)
So I would not worry if I lived here. The minimum standard of living
will rise and it will represent purchase of made in America stuff.
Which is not to say that money cannot be made shorting the dollar by
buying gold or euros or yen.
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