– Crude, Copper, & Euro Currency Crushed By King Dollar’s Best Week In Over 3 Years (ZeroHedge, Jan 23, 2015)
The man who trades freedom for security does not deserve nor will he ever receive either. – Benjamin Franklin
– Crude, Copper, & Euro Currency Crushed By King Dollar’s Best Week In Over 3 Years (ZeroHedge, Jan 23, 2015)
The dollar is only strong because the EU is allowing another trillion in QE; making the dollar look stronger. But, it isn’t….and it won’t hold.
We have to look at the whole picture, not just a week or month, and the whole picture is this. In January, 2010, 100% of world economies concluded their international trades in dollars.
Today, about 30% use the dollar…….most of the time, unless they can find a way around it. The only economic stronghold (if you can call an organization of 28 different states subjecting themselves to a trillion in QE strong) is the EU. Right now, Germany, France and the UK are already finding trading avenues avoiding the dollar.
Last week, Putin told a literally hungry Greece that he would see they would not suffer for food if they leave the EU. How long does anyone think they will go on suffering needlessly on a whim of the US?
Putin is slowly and methodically chipping away at the EU. The more it breaks apart, the more the US loses. Putin is no joke, and it is a pity he isn’t on the side of the west…..when the EU breaks apart or dumps the dollar (whatever happens first) the dollar will collapse.
I don’t know how much longer it will take. A friend stopped by, one with multiple properties and ARM mortgages. Hoping to sell……..and retire. I don’t know how to express what I see coming……..so say nothing. One property has a million dollar first and a $200K second, others are not so heavily encumbered, but the debt level is well over $2 million. The plan is to sell the heavily encumbered property in the next year or so and retire to a smaller property. Said they got lots of requests from real estate agents…………..I reminded her of how they operate, and mortgage rates are going up, not down. Still plan to sell in the next year or so, the US media says the US is in recovery, but the growing unemployment is a concern…………….you think?
I don’t think we have a year or so, I think we are down to months……….maybe weeks. Putin tirelessly works on behalf of Russia and BRICS, US politicians work for special interest that has nothing to do with benefiting the US. God, how we need an FDR! A man who would really work for the nation, not a few greedy guts. Since we don’t have one, all that is left is for the fat lady to sing.