Wednesday, October 22, 2008

Global currency collapse against the US dollar continues

Overnight saw more violent selling of foreign currencies and buying of the U.S. dollar. Record lows for the Indian rupee, Mexican peso among others. New 3-year lows for the Canadian dollar. New 5-year lows for the British Pound and similar weakness for many others.

The euro is in a freefall that is likely to accelerate.

Gold is down and will fall much more as the euro deteriorates.

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