First, I have not done this properly, thank you for the various suggestions left toward the farmland project I have been working on. I have not really thanked you all properly.

This is has been a peculiarly busy week, not trading but with every other aspect of my life, so just a few stray items to chew on today.

Here is a link to a lengthy speech by Dennis Gartman. Despite how long it is it does read very quickly. One thing he said, which I cannot vouch for but is interesting if correct “In the last 30 centuries, China has been the dominant economy in the world for 28 of them. It’s just a return to the mean as China now becomes the dominant demand-oriented society in the world.” I don’t doubt the general idea I just don’t know about 28 out of 30.

Mebane left a couple of timber products that trade in the UK which lead to my finding a couple of other timber names;

• Great Southern Limited GTP.AX and GSPLF.PK
• Sino Forest TRE.TO and SNOFF.PK

Do your own homework.

The dollar got some bounce against the majors from Benanke’s jawboning as he broke a long standing, was it a rule or a policy, about talking about the greenback.

One thought I had right away, that I started to see posted in a couple of places was “just how bad is it that he is talking up the dollar?” Is there risk of $2.00 to buy a euro as I heard one commentator say a couple of days ago? Since late 2000 the euro has almost doubled against the greenback. Part of that big move was the euro selling down too much in the early days.

In roughly the same time frame the dollar has dropped by 40% against GBP. The drop against the swissi has also been around 40% while the loonie has been more like 60%.

I tend to think that most of the losses for the dollar are already in against the majors. This is not a call for a rally but more like there is not another 40% to come out against the pound. Where I think bigger currency gains can be had is in some of the the lesser followed currencies. This might mean second tier crosses to some extent, some of which are accessible, and also some in their own world countries.

There will be quite a few countries in Europe, Asia and Latam that are going to ascend in the world’s pecking order which will strengthen the currencies of these countries. Many of them are hard to access for now but will get easier. Currency ETFs have generally been a big hit so we can expect more of them even if we start to see regional or theme baskets of currencies, these could work too. We’ll have to stay tuned.

Last 5 posts by Roger Nusbaum

• The Big Picture for the Week of November 15, 2009 - November 14th, 2009
• Process Drilldown - October 23rd, 2009
• Sunday Morning Coffee 10-18-09 - October 18th, 2009
• A Little Followup From This Morning - October 8th, 2009
• Wednesday Roundup - October 7th, 2009