We purchased some additional precious metals and strong currency shares in the past two days. Perhaps I got too emotional. Bernanke's ridiculous scheduled TV appearance tomorrow really set me off. Besides the sheer chutzpah of the stunt, this guy is clearly running scared and more and more people know it every day. Geithner's statement that he favors a strong dollar was the last straw. Take your best shot tomorrow boyo's, reality resumes next week.
Anyway, here's a summary of the currency ETFs we now own:
UDN (PowerShares DB US Dollar Index Bearish Fund)-- Tracks the Deutsche Bank Short US Dollar Futures Index. It's a bet that the Dollar Index continues to fall. The dollar index consists of the Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc.
FXA (CurrencyShares Australian Dollar Trust)-- G'day mate.
BZF (WisdomTree Dreyfus Brazilian Real Fund)-- The investment seeks to achieve total returns reflective of both money market rates in Brazil available to foreign investors and changes in value of the Brazilian Real relative to the U.S. dollar.
CEW (WisdomTree Dreyfus Emerging Currency Fund)-- Invests in emerging and developing economies in three regions of the world: (i) Asia, (ii) Latin America and (iii) Europe, the Middle East and Africa. More specifically, currencies of Brazil, Chile, China, Colombia, the Czech Republic, Hungary, India, Indonesia, Israel, Malaysia, Mexico, Peru, Philippines, Poland, Russia, Slovakia, South Africa, South Korea, Taiwan, Thailand, and Turkey are current eligible candidates.
That just about covers the waterfront I would think. Oh, we also added some ultimate money by buying more CEF (Central Fund of Canada). Wow, we're up to our kister in this Austrian economics, anti paper money, end the Fed, Keyenes was a socialist, sound money way of thinking. As I said, in for a penny, in for a pound.
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