So I have finally returned from my Middle Eastern business jaunt and am catching up on the board and all the news. I have the sincere feeling that there is something significant happening now... finally.

As I mentioned previously the Emirates was abuzz with the hummmmm of gold/silver action. On top of that the ever sinking USD was on everyones mind, especially in Dubai where investors were sore, sore, sore after their ridiculous Real Estate bubble burst with more fireworks than those that launched the now fledgling Aquantis Hotel on the Palm. I was in the Silver souk (a subset of the gold souk) last Friday which is usually dead on a Friday (Muslim holy day) and it was still humming! There were touts there in the dozens, and many shops which were normally closed which were open. The funny bit however is that they were largely out of or low on good metal stock! Many silver traders were selling 'genuine' Rolex and Gucci products in hidden apartments over their shops as getting their hands on the metal was proving exceedingly difficult. There was loads of over-priced diamonds though... (personally I think diamonds are just over-priced shiny rocks... too common for real worth)

More interesting was the change in prices. Last time I was there, my gold backed Swiss franc was very weak, some products proving to be 33% higher in cost there than here in Switzerland (that is very hard to do!). On this trip, things were a bargain! I was getting over 3.5 USD backed dirhams for my gold backed CHF. Nice. I feel however that this is not even close to over... as do those living in Abu Dhabi. As reported by others, they want out of the USD and into a basket of currencies. Oh what will happen when the US can no longer 'print' their dollars and know someone will definitely buy them?

Call me a cheerleader, call me some kind of paid pumper, call me whatever you feel bashers... I think we will soon see the resurgence of ECU good and proper. I've been buying this week and you won't get them back from me until we're back over 2 at least. The fundamentals are simply there. It's as easy as the POS times the resource under the ground... I think that's worth more than .62 don't you?