Tuesday, November 25, 2008
The dollar's rally is over
The Fed has effectively killed it with massive dollar selling of the past two months.
The good news is, they will have a huge profit on their foreign currency position.
The bad news is, it translates into a decline in Americans' purchasing power.
But, hey, at least taxpayers are getting "payback," right?
Maybe they'll divvy up the Fed's trading profit and send us all a check!
Don't hold your breath.