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Thread: weekend commentary - the Most Important Support Point in the world ...

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    Banned Melonie's Avatar
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    Default weekend commentary - the Most Important Support Point in the world ...

    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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    God/dess britneyireland's Avatar
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    Default Re: weekend commentary - the Most Important Support Point in the world ...

    "Support point"....melonie are you becoming a technician???
    Rebecca Avalon







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    Banned Melonie's Avatar
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    Default Re: weekend commentary - the Most Important Support Point in the world ...

    not really ... although I do follow the theory. In this case the theory says that since the US dollar index has fallen through the psychologically important 80 mark, and has continued to decline from there, that there isn't much 'support' in sight !!!

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    Default Re: weekend commentary - the Most Important Support Point in the world ...

    Quote Originally Posted by britneyireland View Post
    "Support point"....melonie are you becoming a technician???
    Nah. As usual, I'll use them when it supports my point of view and will ignore it when it turns around

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    Banned Melonie's Avatar
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    Default Re: weekend commentary - the Most Important Support Point in the world ...

    ^^^ well, fortunately for me or not, the US dollar, gold, the S&P 500, and Citigroup have not 'turned around' their trend direction since the first of the year ...



    in fairness, I expect a turnaround in gold very soon. I also expect the US dollar's fall to moderate, probably due to foreign central bank intervention. There will even come a day when Citigroup will seem like a good investment to 'bargain hunters' again ... although I suspect that they still have a couple of quarters worth of OBS 'dirty little secrets' to acknowledge and write off.

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    God/dess Deogol's Avatar
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    Default Re: weekend commentary - the Most Important Support Point in the world ...

    Quote Originally Posted by xanfiles1 View Post
    Nah. As usual, I'll use them when it supports my point of view and will ignore it when it turns around
    You're trolling...

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