Godlike Productions - Conspiracy Forum
Users Online Now: 3,185 (Who's On?)Visitors Today: 1,388,202
Pageviews Today: 2,280,888Threads Today: 626Posts Today: 15,786
07:52 PM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

Dollar Will be "Utterly Destroyed": Strategist

 
Anonymous Coward
User ID: 744028
United States
11/08/2009 02:44 PM
Report Abusive Post
Report Copyright Violation
Dollar Will be "Utterly Destroyed": Strategist
Dollar Will be "Utterly Destroyed": Strategist

Published: Friday, 6 Nov 2009 | 3:09 AM ET Text Size

By: CNBC.com


The dollar will get "utterly destroyed" and become "virtually worthless", said Damon Vickers, chief investment officer of Nine Points Capital Partners.

"We don't have resources. Neither does a lot of Asia to be quite frank," Vickers said on CNBC's Asia Squawk Box. "Countries that have resources -- the Brazils, the Canadas, Australia -- their currencies are doing well."

Vickers noted that their stock markets have done the best year-to-date.



"They have stuff. They've got resources. They export real things. The United States exports 'promises' and 'pretty paper'," he added.

Australia's S&P/ASX 200 [AU;XJO 4594.0 86.00 (+1.91%) ] has risen 23% this year alone compared to a 14% gain in the Dow Jones Industrial Average [.DJIA 10023.418 --- UNCH (0) ].

Due to the huge wage disparities between the United States and emerging markets like China, Vickers said that may resolve itself in some type of a global currency crisis.

"If the global currency crisis unfolds, then inevitably you get an alignment of a global world government. A new global currency and a new world order, so we may be moving towards that," he said.

Vickers added that this is the time where investors should be making money when the trend is developing.

"Oil looks higher, gold looks higher, currencies look weaker."
Anonymous Coward
User ID: 809106
Brazil
11/08/2009 03:18 PM
Report Abusive Post
Report Copyright Violation
Re: Dollar Will be "Utterly Destroyed": Strategist
Anonymous Coward
User ID: 809106
Brazil
11/08/2009 03:18 PM
Report Abusive Post
Report Copyright Violation
Re: Dollar Will be "Utterly Destroyed": Strategist
bump

News