Let's go back a couple of weeks and recap some of the major occurances. Last week the Fed announced a press conference. When does the Fed announce a press conference ever? Could it be timing based upon how the dollar was less than a $1 away from the all time low. Could it be if intervention didn't occur immediately a waterfall decline was a distinct possibility. How quickly was the Fed event forgotten after the next series of events unfolded.

Next came the bombing of the commodities and precious metals. What is strange is the dollar did not really go along with the sell off until just the last 2 days.

Lastly the Osama bin Laden event where the story has been amended and modified from the original version several times within the last few days. I have been amazed at the number of stories from former political officials and aides discrediting so many aspects to the sequence of unfolding events.

All of this goes back to the dollar and whatever it takes to keep critical levels from being broken. Look at the dollar chart and realize we are at the critical point in time that the dollar will be defended at all cost. The next few days to next few months may determine the history of the dollar as a store of value , medium of exchange, and reserve currency.