Dump the dollar! Buy gold!

You know I have been seeing more of these commercials lately urging us to invest in more Gold, especially on Fox but that's not exactly the only place you can find them. You might see a commercial with either G. Gordon Liddy or Dan Florek (you might know him from Law & Order as Capt. Don Cragen).

Anyway this article is about Chris Pia, this article talks a lot about his background in trading and then offer's his picks on both the US Dollar and Gold:

The dollar: Down 10% vs. euro

Pia predicts that the dollar will take a double hit: First, China and other Asian exporters to the U.S. are already maxed out on dollar reserves from the ever-rising sales of their exports and the interest on the Treasuries they've been buying with their dollars. In addition, those exporters will diversify into gold and the euro as they fret about U.S. inflation.

Gold: To $1,300+ an ounce

Pia now sees gold as a smart play during both market crises and booms when investors think stocks are overvalued. Other drivers include central banks' decreasing their dollars as a reserve currency in favor of bullion (as India did in early November), and gold's populist appeal: "Joe Investor understands gold much better than, say, IBM stock."

Oil: $70 - $100 a barrel

Cheap oil no longer equals a healthy economy: "Oil now goes up with stocks, and prices rise with growth," says Pia. He predicts that oil will swing between $70 and $100 a barrel, so investors should buy it toward the low end of that range and exit as soon as prices hit triple digits. "At $100," says Pia, "rig and pipeline construction booms. New oil supply comes out of the woodwork, and prices fall sharply."

I added oil just because. I hope that I can own some gold. Well there are many that hopes that the US Government will once again adopt the gold standard. Even better, I think I should be able to make purchases with gold. We'll see.