From The TSI Trader:
The U.S. Dollar is falling apart fast. Really fast. Two days ago it completed a failed daily cycle when it traded below 76.12.
Now, literally within this hour, the U.S. Dollar has already failed its yearly cycle by trading below 75.63. The next downside target for the U.S. Dollar would be the three-year cycle low at 70.70.
Can you comprehend what will happen to the price of commodities when people realize that the world's reserve currency is in a precipitous freefall? Who will want to own the currency then?
Who wants to own it now, for that matter? Something like 70% of all new government debt is being purchased by our FED – not the Japanese, or Saudis, or Chinese. We Americans are buying our own debt because no one else wants it.
So what will people buy with dollars to get rid of them?
Read full article...
More on the U.S. dollar:
This could be the day the dollar falls apart
Jim Rogers: "We're at a moment of truth for the dollar"
BREAKDOWN: The U.S. dollar is plunging to new lows for the year
View the original article here
No comments:
Post a Comment