"The dollar is up in the short term on what we expect is a short covering rally, but that is not consistent with long-term implications, so we don’t expect it to stay up. "
They predicted the Fannie Mae/Freddie Mac collapse in Mar '07, 18 months in advance of its occurrence. Repeating the warning passed along in Jun '08 by Mystical Paths :
"...bail on the summer bubble...."
UPDATE 2 Sep 08: Since posting this, the rate has continued to climb as far as 3.61, but this is due in large part to the hundreds of millions of dollars the Bank of Israel has been buying up. It is worth noting that today, they announced the end of this pratice effective 12 November 2008, which is right in line with the timeframe for the dollar's demise given by the rabbis.
Bank of Israel to Stop Buying Dollars
(IsraelNN.com) The Bank of Israel announced Tuesday morning it will stop buying US dollars as of November 12.
The bank has been buying dollars in an effort to stabilize the dollar-shekel rate, which has been dropping steadily since the beginning of the year. The rate on Tuesday morning was NIS 3.61 per US dollar.
A month ago, Reb Akiva at Mystical Paths posted the following:
"...Several tzaddikim have come out in the past week and provided some financial instructions to their talmidim. Things are going to briefly appear to settle, it's momentarily going to look like the crisis is past. Markets will soar, and the US dollar will regain it's strength. But this will be an illusion (in US market terms, a dead cat bounce). By Hoshana Rabbah this year, it will all unravel and the true impact of the financial crisis will be apparent. Markets will fall to record lows, as will the US dollar. Their instructions to their talmidim are: bail on the summer bubble...."
Could that be what is transpiring now?
Bracha v'Shalom, Devash.
ReplyDeleteI went to your contributors' Web site to see if there was more information on this but I found no sources listed there, just unnamed "tzaddikim."
Here's my comment to them:
We are people of Torah. We immerse in knowledge based on sources. No Torah Jew is trained or prepared or willing to act upon information that is unsourced.
This is why I continually must dismiss reports and reporters such as those presented by this Web site.