While CNBC is saying Bon Voyage to QE II, YOUR central bank is happy it made YOUR currency weaker!
As an investor, you should WANT your own home currency to be strong. A strong currency helps you to plan for a future without inflation, without a potential debasement of your money. Well, it looks like you are not going to get it. You see, the President of the St. Louis Federal Reserve said yesterday at a conference on Quantitative Easing that a desired weaker dollar has been achieved. His words, right from the St. Louis Fed's website :
I'm sorry Mr. Bullard, but if you are stating that QE 2 was a success as it weakened our dollar, I'm going to vote with my feet and invest in physical gold. I'm going to buy gold with those dollars as I look for a safe haven from your policies. Annual gold production can't rise fast enough to stem the tide of a policy that is happy with your currency becoming weaker. Before you see the gold coin cost rise further, call us at Lear Capital !
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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