Dear Daily Reckoning Reader,
The dollar is falling apart. What was once a cyclical bear market - the so-called "7-year slide" - is now being aided and abetted by powerful monied interests in Washington and on Wall Street.
But... so what? Most Americans could care less how many euros, yen or pounds a dollar will fetch. Why should you?
Well, for starters... you could use the trend to make a lot of money.
The good doctor Kurt Richebacher starting placing his bets on a dollar demise while it was still hovering around $0.83 cents against the euro. This morning it was trading at $1.33. A drop of over 60%.
Read below to find how those bets fared... why Dr. Richebacher suspects it will go to $1.50, possibly even more... and how you can take this massive downtrend in the U.S. dollar all the way to the bank.
Addison Wiggin,
The Daily Reckoning
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Here It Comes! The Dollar's 7-Year Slide
But You Could Make Once-in-a-Lifetime Gains as the Dollar Heads Even Lower!
Dear Reader,
One day very soon, you could wake up to find that gallon of gas costs $5... milk $4 a gallon... and bread $6 a loaf.
On Wall Street, the Dow will be at 5,000... the Nasdaq at triple-digits. Treasury bonds will be hardly better than junk.
But at the same time, you'd be raking in bigger profits than you ever have before!
All thanks to the sinking dollar The recent headlines are just the first signs of what is about to happen. And we're already seeing some of the fallout. BusinessWeek reports that OPEC has "been squeezed by the dollar's slide." The oil cartel voted to cut production to strengthen prices The Philadelphia Inquirer points out that November 2004 wholesale prices "were up 4.4 percent over a year ago, while the retail or consumer inflation rate was clocked at 3.2 percent... faster than the big price indexes have r
isen in years." Bloomberg notes that foreign purchases of U.S. assets in October were "at the slowest pace in a year." Despite the danger, no one seems concerned. The economy hasn't tanked. Wall Street hasn't crashed. In fact, while the dollar has fallen nearly 10% against the euro over the past year... the Dow is up over 8%! It's clear that investors have no idea how the falling dollar affects them. They're still buying things they can't afford - stocks... houses... even cars - with money they don't have. It's like they're speeding towards a busy intersection - without knowing what a red light means. You and I know better, however. U.S. dollars are the bricks and mortar of the American economy. They're also a key pillar in many foreign economies, too. Now the "bricks" are crumbling around us - and there's no telling how long it
will last. But if history is any guide, this dollar crisis could last seven to nine years. You see, since 1972, we've only really had four major currency trends. So the current cycle still has a number of years to run. Luckily, there is still time for you to hedge against this fall. Better still, there are ways for you to make handsome profits as this cycle plays itself out.
But you must hurry, because you don't have very much time left. The dollar is doomed - even without government interventions and "managed devaluations." And it's not hard to see why... To learn more about the dollar's slide, it's cause and what you can do to keep your money safe... visit this link: http://www.agora-inc.com/reports/RCH/slide105 To learn more or subscribe, see: http://www.dailyreckoning.com MAKE YOUR OPINIONS COUNT! Visit our Discussion Board Our writers and contributors also welcome
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