Bloomberg.com reports that, because of the drop in the dollar, investors are seeking alternative investments in precious metals, effectively pushing the price of palladium to a nine-year- high.

The story is quoted as saying:

“The Fed has put the world on notice that the dollar can no longer be viewed as a safe-haven currency,” Michael Pento, a senior economist at Euro Pacific Capital in New York, said in a report. “During the next crisis, investors should seek the safer harbor that is derived from owning commodities and precious metals.”

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