“The entire house of cards economy that has been erected over the years, and the Federal Reserve has been the architect of this house of cards economy, is rested on the foundation of the dollar’s reserve currency status.”
No one seems to be worried about the falling dollar, veteran stockbroker Peter Schiff writes on Twitter, as the US currency continues to slide versus major rivals amid gold and silver record growth.
According to Schiff the ignorance is “likely to remain the case until the fall becomes a crash, which I don’t think will begin until the Dollar Index breaks 80. At its current rate of decline that level could be breached before year end, perhaps by election day.”
The decline of the US dollar accelerated in recent weeks on a rise in coronavirus cases in the United States and indications of a pickup in global economic activity. The ICE US Dollar Index, which tracks the greenback against a basket of six major rivals, fell 0.4 percent on Friday to 92.635 and traded at its lowest since July 2018. Meanwhile, gold continued its rally to hit fresh all-time highs.
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Be ready when they talk about a bank holiday and closing for a few days.
ReplyDeleteWhat are you talking about? Banks are prohibited by federal law from being closed more than 2 consecutive days.
DeleteHistorically gold remains the only indicator how well the economy is doing. When it goes up, that means things are not healthy. When it drops the economy hums.
ReplyDeleteWatch and you decide what to do when the time comes!
Good- what American need is some tough love. Let the woke cybullies go a few years without enough food and that'll stop 'em from feeling offended at the drop of a hat. Better yet, when the economy does collapse- DO NOT HELP THE LEFT. Do not share food. Do not help them out.
ReplyDeleteSHOULDA, WOULDA, COULDA. The fact of the matter is NOBODY KNOWS. Just like they said when TRUMP got elected. The economy was going to crash dive. It didn't. There was to be food shortages. It didn't. So if what I have seen when people make stupid predictions. They are clueless.
ReplyDelete227
ReplyDeleteYou are very naive.
Not just a little bit naive.
VERY naive.
There are PLENTY of people "who know" when to buy, what to buy, and when to sell.
Read: The Creature from Jekyll Island
Blah blah blah. You have no facts to back up your comment. Talk about being naive?? I know when to buy as well. Not buying what you're selling.
DeleteAfter 911 I bought and took possession of Troy at about 300 an OZ. A simple 40K investment is now worth 240k. If the shit really hits the fan cases of Bourbon would make better bartering.
ReplyDeleteMmmmmmm,Bourbon!
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