Tuesday, February 22, 2005
The USD and S. Korea
I think the last time I posted about the plight of the US Dollar (USD) was January,17th. Today, the USD was down in a big way in reaction to the news that S. Korea is diversifying their reserves away from the USD.
Feb. 22 (Bloomberg) -- The dollar fell the most in more than four months against the yen and dropped versus the euro, Korean won and at least 30 other currencies after the Bank of Korea said it plans to diversify its reserves.I have added a number of blogs to my blogroll (see those that are in bold) that post on the USD and currencies in general. I have a feeling that we will all be wanting more information about the effects of a falling dollar on us personally over the coming years. I think that Gold will be considerably higher and in the 70's the price of Gold was higher than the Dow Jones Average. I believe the two will cross again and we all should have some dollars in this area for insurance. I do.
Mover Mike
