Quote:
Originally Posted by Claeren
If I was in the US I would probably own some gold though? But it is a different scenario when it is priced in your home currency. As a Canadian I can play against the American dollar just by saving Canadian dollars.....
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While I do not actually have any gold bullions under my mattress unlike some of my Asian clients, I do own some mining equities. That said, I am not optimistic on gold's prospects of rallying anytime soon.
As much as you don't believe in the USD's long term prospects, if I were you I'd convert the CAD savings into USD for the short term, the loonie could take a deep plunge after next Monday when the Bloc and their puppets take over this country in these times of political instability.
On another note, I do agree with your overall bearish outlook on the USD, I just think you're way ahead of your time, I would not expect the USD to tank for at least another 10 to 12 months, let alone before Obama takes office in January. All this talk of hyperinflation is way ahead of the curve IMO. Given crude's performance lately and the political storm coming up, I would worry more about the loonie turning into pesos first and foremost.