When Goldman Sachs Speaks, People (Are Supposed to) Listen

Friday, November 30, 2007
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I get daily emails from the Securities Industry and Financial Markets Association (SIFMA), and this headline arrived on my electronic doorstep yesterday:

Goldman Sachs: Dollar’s decline coming to an end
The dollar rallied against the euro and the pound after Goldman Sachs predicted its long slump was coming to an end.

It has taken decades of government intervention and political malfeasance to get to the point where we witness the oncoming destruction of US currency and looming hyperinflation. But some yahoo analysts on Wall Street simply declare that the decline of the dollar is over – that’s it, done, we can relax now – and the dollar rallies as the unconscious masses rush in to sop up the BS. This is the sort of thing that leaves me stupified.

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