I opened a long position in the yen today vs. the dollar, via YCL.
YCL is the ProShares Ultra Yen ETF, which “seeks daily investment results that correspond, before fees and expenses, to 2x the daily performance of its underlying benchmark.”
I’ve got a timing trigger telling me to buy the over-sold yen, which also looks like it’s at or near a typical point of reversal:
As of this writing, 1 yen is worth 0.00666 US dollar.
Of course when writing on currencies I’m going to mention the real one along with the fiat fakes.
Here’s a thought-provoking article at Forbes.com:
In Hyperinflation's Aftermath, How Germany Went Back to Gold
Germany, as is well known now, had a hyperinflation from 1919 to 1923. At the end, the mark was worth one trillionth of its original value. Afterwards, the new German mark was pegged to gold, at its prewar parity.
How did this happen? How did the new gold standard emerge?
Luckily that ended well, and the experts have things under control today.
Witness gold vs. the euro’s 25-year existence:
Headlines:
Australian minister pushes for coking coal, uranium to be added to critical minerals list
US GDP "Grew" $334 Billion In Q4.... That Growth Cost $834 Billion In Debt
Apple to wind down electric car effort after decade-long odyssey
EU Considers Banning Repairs On Vehicles More Than 15 Years Old
Can’t afford a new car? No worries. What the lords taketh away, they giveth and grifteth.
But what’s the carbon footprint of needlessly junking working vehicles and forming a giant new department of unaccountable vote-bought apparatchiks, plus all the waste and fraud that goes with such a program?
Should we hoard copies of “Car Repair For Dummies”?
While history repeats, gold and the working class say “cheers!” to Europe’s rich history of debt-fuelled social engineering.