Whew! What a week. It’s all turned out okay … for now. For nervous Nellies, IFO recommends that you NOT listen to Coast to Coast AM for a while. The host is having a lot of financial commentators on – some quite good, others predicting a financial apocalypse. Not that it can’t happen, but their scary scenarios will ruin your sleep.
Let’s just look at our Swiss Watch Index and see how the USD has been fairing. Our Swatch watch, which originally cost about $50 and SFR50, would now cost $55.21. That’s down from $56+ last week.
If you had put SFR1000 in a Swiss bank at the same time, you could be watching yourself get “rich” in USD – wouldn’t that be fun? You would be up to $1,104 this week. That’s a 10% return on your deposit as opposed to the measly interest in U.S. financial institutions of less than one percent.
Gold closed at $1788, Silver at $34.66, Crude Oil settled at an unsettling $99. Keep an eye on this. The Coast2Coast guys may be on to something, though last night’s guy was more worried about currency problems.
The stock market recovered from its little hiccup and closed much higher. Our Model Portfolio Index reflected that rise, as it closed in positive territory for the first time in months, albeit only $12.74 higher than the total price we “bought” it at months ago: