Cross-posted over at The Free Radicals
In the comments to my earlier article on this subject this comment was received by Arthur Franke:
I had a '“discussion'” along these same lines with someone in January who had rather explicit opinions about the direction of the dollar over the following year. I told him he could be proven correct, but that I seriously doubted his projections and I expected things would almost certainly turn the other way in short order. He knew much better than I naturally. He promptly proceeded to lose $100,000 that he admitted to via speculations against the dollar in favor of the Euro and the Australian dollar. Head down this path at your own risk. You might first want to notice that America continues to have the fastest growth of any of the industrialized nations, as we nearly always do.
Arthur brings up some very salient worries over what can happen if one is either not careful or unprepared to trade in certain markets. His friend chased a top. And chasing a top is a recipe for disaster. At the time this transaction took place even gold bulls were calling for a reversal of the dollar. It was painfully obvious, even to one as dramatic and worrisome as myself.
Recent Comments