free quote from a well respected paid investment service ...
(snip)""The Most Important Support Point In The World":
This is what The Privateer has been calling the 80 level on the USDX for years. Up until September 2007 it had never "failed" for long. Over the almost two and a half decades between 1973 and 2007, every time the 80 level on the USDX was challenged, co-ordinated central bank action swung in behind the US Dollar and the index turned up again. THAT HAS NOT HAPPENED THIS TIME!
The most important support point in the (financial and monetary) world has been breached. And this week, the temporary "support" which the USDX found at its November 2007 lows has also been breached. It is not possible to overemphasise the importance of this development.
The USDX was born with the advent of the global fiat paper money system supported by nothing more or less than the "viability" of an unending and ever accelerating global credit expansion. Every time its lows were threatened, the means to perpetuate this credit expansion were increased. ALL of the exotic investment vehicles which are now frozen are products of the fiat money era. And as the demand for an ever larger supply of "credit" (read debt) grew, their complexity and the leverage they afforded grew apace. Now, the entire house of cards is teetering. The credit freeze is the symptom. The currency is the disease.
From: "The Global Market Report"
©2008 - The Privateer market letter"(snip)



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