Rearranging The Deck Chairs
I just read an article on Barchart about the dollar breaking a downtrend it had been in for a year or so. So what, who cares. These analysts, technicians and economists are clueless. The last time what the dollar was doing mattered was fifty years ago when the US and most other countries were still on the gold standard. The dollar index is just an arbitrary comparison of certain percentages of a hand full of other currencies against the US dollar. It is nice to talk about it rising and or falling but it doesn’t mean anything. Not least because it is completely manipulated by govts and central banks but more importantly because none of the currencies are pegged to gold. So it just means that as all the countries inflate their currencies and tinker with their interest rates they are all sinking together against the only measure that matters, GOLD! Yes, sometimes the dollar is depreciating less quickly then others so it appears to be rising. It is still going down,continuously versus gold during any long term time period one wants to look at. So stop being distracted by nonsensical issues like what the dollar is doing. Focus on gold and silver. “Gold is money, every thing else is just debt.”
Sir Chartmaster,
You are so on the money.
The USD is simply the prettiest horse at the glue factory.
I fear for what is coming our way.
Thank you for sharing your thoughts.
Cheers
R
Nice commentary!