By now virtually every investor has heard the argument that the U.S. dollar is slated to lose its status as the global reserve currency. And that's good - as far as it goes.

What's bad is that many of these investors have yet to latch onto the fact that this could happen much sooner than many people realize and in a manner that will catch most by surprise.

It looks like the U.S. housing sector has bottomed. In fact, if you've been thinking about buying a house, this may be the time to make your move. Congress and the Obama administration are considering whether to extend the $8,000 first-time-buyer tax credit for another year from Nov. 30, 2009 - when it expires. With cheap money, housing may show strength in the short term, just as we've seen with other assets. But there is the potential for a market hiccup next year or in 2011.

For several years now, a far-fetched but seemingly plausible investment opportunity has been wreaking havoc across the globe. In the United States alone, an estimated $10 billion has been lost in this particular gambit. The scheme is typically hidden behind such legitimate-sounding names as "Prime Bank Trading Programs," "High-Yield Investment Programs," or "Roll Programs."