A friend writes:
I like this guy: Mohamed El-Erian: Tough times ahead
I agree, I have heard “the EL’ on CNBC many times. He makes a lot of sense. I agree with his evaluation on gold up till know. But things are different today. The world takes a long time to adjust its investing behavior. The destabilized world financial market is over, we have averted a crisis and confidence will creep back into the market. Gold will drop once the investing community realizes that the sky is no longer falling. Prediction: Gold Goes Down
Greece is a fine example of why I believe the euro will drop. The euro is subject to many independent governments, any which could have a financial crisis on their hands. The euro is vulnerable at these levels. Prediction: Dollar goes Up.