Friday, March 04, 2011

UUP: Dollar Index ETF

NOW AT LEVELS BELOW THE  FINANCIAL CRISIS 08


Purpose of the UUP:
designed to replicate the performance of being long the US Dollar against the Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc.


There was a time when people ran to the dollar in times of turmoil, not now folks. this is a huge signal of impending doom for the once almighty reserve currency. Collapse is more likely the result but its going to take a very long to happen (maybe by QE 10) but it will no doubt happen because no one wants to spend less, take a hit, they want you in the malls shopping, using your credit card, everything is fine. This FED is shameful and irresponsible in their actions. God help us if dollars are no longer required for the rest of the world to buy commodities, we'd be seriously screwed! 

I went on the Yahoo message boards just to see sentiment, and you would not believe the amount of posts that are bullish on the dollar right here at these levels. Blows my mind!

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