US Dollar in Unchartered Territory
Interesting,
As many who trade FOREX, you know what the once almighty dollar is doing day to day. And as such, I think most know the dollar has lost its luster over the past year.
When the dollar was in a death spiral late last year falling 20% to a point where CAN loonie was at dollar to dollar, this was a real wake up call for feds, yet what did they do, the simply bribed world banks to bolster dollar saying that it would be far worse if they didn't, and this is the first time the gov. has ever spoken the truth. lol
It is a sad situation, but with first 700 billion dollars going to world banks as a bribe, what other tricks are left in feds bag? Technically, we are in unchartered territory, so what comes next nobody knows, but given the artificial measures used to bolster dollar over past year given severe recession, it is time to short the dollar for sure.
Simply put, I think most here will agree, you cannot just keep printing more money and expect a different result, and this is what is being done, to the tune of trillions, and problably more we don't even know about for gov. has been great at keeping the truth from people, just look how long it took to admit we were in a recession. lol
The 20% bump back to former levels has to be temporary, and once the truth of China and other countries start cashing out the dollar, which is quietly happening at this very moment, watch out, we are in even more unchartered territory, like a black hole, then what? Can anyone make a case for the dollar to rise again? Bribing world banks only goes so far, and even if economy were to bounce back overnight, highly unlikely, this would not solve the trillions in debt with nothing but debt backing dollar. Good faith only goes so far, and who has faith in banks, gov. or dollar these days? Oh well, atleast it allows us to make money in FOREX market.
Success to all,
Bernanke is last person to believe
Funny,
It was Bernanke which only admitted we were in a recession a year late after most people already knew it. Seems he was the last to know, or admit it, so he would be the last person I would believe when he commented that we were turning the corner. He didn't mention which corner, so same old double talk from fed. lol
Success to all,