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Its a scary piece of news!
If world really headed into deflationary depression next...then US$ will shine brighter than gold...vested..
hope not..becos if $ soar ...all collapse..ALL.
but if $ soar overtime, then the impact will not be so disastrous...hope it lose air overtime..but slowly...hope so....but not likely..and scary..stock will collapse big time.
that is why alway have STOP LIMIT ..it is the most important than buying and selling.....and follow strictly,,,,otherwise dont buy stock.
US$ exchange rate yesterday was around S$1 = US$1.39 and compared to 2 plus yrs ago 1.75...
Dominance of US$ to trade the oil will be coming to an end............ Better re-look at how to dispose of US$ that are still at hand , perhaps, buy more GOLD.
Today, Fisk writes: "Saudi bankers are well aware that in nine years' time - - the current timeframe for a transition away from the dollar in oil trading to Japanese and Chinese currencies, the euro, gold and a possible new Gulf currency - - China will have doubled its national income to $10trn (assuming a growth rate of 7 per cent), at which point the US might hold no more than 20 per cent of the world's gross income.
Such massive financial movements, encouraged by the de-dollarisation of oil, will have enormous political effects in the Middle East, especially if economic superpower rivalry between America and China comes to dominate the Arab world. Will American economic support for Israel remain as loyal in nine years' time if China and the Arabs are setting the pace in global financial markets?"
Beware over flooded of paper gold too!
nickyng ( Date: 07-Oct-2009 09:24) Posted:
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wow...
Gold_Futures** 1040.00 0.30 0.03%