Pimco Says Dollar to Weaken as Reserve Status Erodes

Pimco Says Dollar to Weaken as Reserve Status Erodes

www.bloomberg.com

Aug. 19 (Bloomberg) -- Pacific Investment Management Co., which runs the world’s biggest bond fund, said the dollar will weaken as its status as a reserve currency is eroded by concerns about the increasing U.S. money supply.

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Is this finally it? Are we going to see major devaluation here? Or is it going to be a long downward spiral like the track we are currently on? Many of us here already know that this was bound to happen, the question was when. Im taking this as a warning and I am going to diversify to protect my wealth. Should be a very interesting fall!

www.bloomberg.com
(visit the link for the full news article)

Originally posted by crw2006
Is this finally it? Are we going to see major devaluation here? Or is it going to be a long downward spiral like the track we are currently on? Many of us here already know that this was bound to happen, the question was when. Im taking this as a warning and I am going to diversify to protect my wealth. Should be a very interesting fall!

I hear you totally, dude. I've already got a good portion of my savings in Euros, and I'm just waiting to see some major world events or more drastic pip movements before I make another long term bet (I bought 10,000 euros last year for $16,000 US, when it's now only worth a little more than $14,000 US, meaning a loss of $2,000!).