$1000 Gold? 100 Yen Per $? – This Is A Dollar Crisis

March 13, 2008 at 9:35 am  ·  Category: Currencies, Federal Reserve, Gold, Market Commentary

Gold briefly touched $1000 an ounce this morning – an all time high (Gold 5 Year Chart).

The Yen/$ briefly dipped below 100 this morning – just below very long term support at lows from early 2005 and late 1999 ($/Yen 4 Year Chart).

The Euro/$ is up around $1.56 – having just exploded over the last month (I got crushed on our Euro shorts, losing 8% in 6 weeks)($/Euro 4 Year Chart).

This is a dollar crisis and Helicopter Money better take notice soon or it could get scary.

I’m real interested, as I’m sure a lot of others are as well, what the Fed is going to do next Tuesday (3/18).

Disclosure: Top Gun is long the Gold ETF (GLD), the Yen ETF (FXY) and has no position in the Euro.

Posted by Greg Feirman  ·  Trackback URL  ·  Link
 

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