Below is a US dollar chart graphic up until today. A lot of people today are asking is the US Dollar strong?
Well, that my good friends is a very good question! In fact such a good question that instead of ramble on I thought I would draw a pretty picture about the whole situation for you to feast you eyes upon (see below)
A PICTURE SPEAKS A THOUSANDS WORDS!!! Wouldn’t you agree!?
Ok, now for the fun rambling entertaining bit!
Alot of people thought we was crazy when we hinted the dollar would die a sickly death. Well consider this last few weeks, the sore throat, and runny nose of the US dollar. You know what those symptoms mean, yes!….OH OH.
Today was interesting, as every the popular news wires were hinting on evidence that seems to suggest china is quietly trying to get out of the dollar. These guys are very VERY smart, but the thing is they have themselves in a sticky situation. They own alot of US dollar and want to get out fast..
AINT GUNNA HAPPEN, OR IS IT?….
Warren Pollock today discussed the problems the Chinese are experiencing with the US Dollar and how they are orchestrating a quiet exit. The Chinese know the US Dollar will be devalued through inflation or simply by way of a straight-up default, so they want out, ASAP. If The Chinese are getting out, perhaps we should all be thinking about how to get out of dollar denominated assets, as well.
China selling big portions of the US dollar (which we could see on the horizon) would be the same as walking up to a raging fire, and pouring another 20 litres of pure gasoline onto this already raging enferno. But Obama seems to be playing Monopoly with these US dollar notes and giving in to all the rich bankers holding out there greasy palms for more cash. At the same time the word or term “Bailout” is now used like an oily old rag.
Even though we are hitting some newish lows in the dollar you ain’t seen nothing yet. Until then I guess its the old ‘Cat & Mouse’ game for China who are sitting on the sideline writing out their strategic plays for the coming months.
Whatever the case this whole Monopoly situation is not good for the economy and is not good for the little guy on the street..including you and me. I am sure China is saving their “Get OUT OF JAIL FREE” cards for the right moment.
A Change in mentality as well as currencies will only be a small part of the many bigger changes and challenges laying ahead. A complex multifaceted topic that will be saved for another day.
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