Poor Mr. Buck

I and many other gold/silver folks believe there is a long term, concerted move away from the dollar - by the Chinese, the Russians and even regular investors that don't think it will be a good vehicle for saving. These two articles are just a couple of examples of the bearish outlook for the dollar.

The first is just a general prognostication by some investment folks at PIMCO and the second is about how Russia is looking to get away from exposure to the dollar, just like the Chinese. In this case, they are shorting the dollar in a kind of indirect way that would not be quite as obvious as if they were to alter their central bank reserves.

I hope more people begin to see the US dollar as only a medium of exchange for goods and services but not a way of saving. People ought to save with things that will retain their value, like precious metals (in sensible quantities) and land, which is real wealth.

Dollar to Extend Slide as Global Economy Recovers, Pimco Says

Russia Prepares to Short $18 Billion USD

China, Russia and Others to Increase Gold Holdings?

Jeff Nichols believes some big players in the world have much gold buying to do in the future. Moreover, he uses the fancy-sounding phrase "over stimulative monetary policy", which means lots of trees are being cut down so your bank account can depreciate in value.

Nichols : "We are bullish on gold for the next few years, largely because of our reading of the macroeconomic situation - and the high probability of an overly stimulative monetary policy for years to come. But a more positive official section attitude - with some countries wishing to increase the proportions of official reserves held in gold - is simply one more support for a much higher price over the next several years."

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