Theo's picture
Greenspan diversified out of the U.S. dollar!

Now that's outrageous:

Of course, the most comical spectacle of all was Alan Greenspan's attempt to steal the spotlight. During his media blitz to promote his new book, he simultaneously disclaimed any responsibility for the problems we are now facing while forecasting that both inflation and interest rates would eventually rise to double digit levels. He even admitted on "60 Minutes" that he personally had already diversified his own assets out of the U.S. dollar.  I guess it's fairly easy to read the writing on the wall when you are the one with the spray paint. Greenspan sowed the wind. Unfortunately the entire nation is about to reap the whirlwind.



Do as I Say, Not as I Do

Ah, role models... The Maestro knew what he was doing.

If a CEO sold his company short, it would be illegal. Fortunately, the SEC doesn't regulate currencies. The Maestro is perfectly within his rights to destroy the dollar and then bet against it.

Fortunately, the credit crunch is over. Helicopter Ben has saved the day. Happy days are here again. Um, yeah. As much as I like Schadenfreude, even I shudder at the thought that the credit expansion of the last 20 years may be turning. Time will tell.

SunTzu

Interesting

It's a good thing I bought DBA before the Fed decision. Commodities always get invited to the M3 growth party.