As we know, Jim Sinclair says there are about 120 days "left". Watson says in the piece below there is a rumor circulating about a sudden USD devaluation and bank holiday. Must be one in the same. Too bad I am never privy to these "rumors"

stateside

http://news.silverseek.com/SilverSeek/1248370061.php

The final item is not news at all but 100% good old mega-rumor. We love to read these now and again and experience that slight shudder of expectation and fear. If you haven’t heard already there are claims running around that a major dollar devaluation is on its way and a forced bank shutdown (“holiday”) will ensue as the US government tries to once and for all fix the banking system before it fixes them good and proper. The timescale is put on the order of 120 days or so.

How do we rank this rumor? Do we rank it right up there with the “news” that the COMEX was going to default on gold and silver deliveries a few months back? Or perhaps it is the sister of the “US about to attack Iran” or “Osama is about to detonate a nuclear suitcase bomb in a US city” rumors? I have a simple rule which seems to work:

The probability that a rumor is true is in inverse proportion to the magnitude of the rumor.

Now we know that China and so on are not happy about the US flooding the world with dollars to quell the credit crisis. It is quite understandable when they talk about new reserve currencies but that is all saber rattling. Back in 1933 Roosevelt did indeed devalue the dollar by a large amount. But now we have floating exchange currencies with the odd insipid intervention by governments. The markets and bond vigilantes will pronounce on the Dollar and just now it looks like it is breaking down again. No need for interventionist magic – the markets will do it for you.

So will there be a sudden financial shock within 120 days? I doubt it but since I and perhaps you are invested in silver anyway it won’t matter. We are ready for any such eventualities whether they come grinding out of the rumor mill or are based on real and sound fundamentals.