While it’s shocking and amazing that our President can do that many TV appearances in 48 hours and not talk about this chart, don’t bet on our Treasury Secretary saying anything about it any time soon either. Today, at $76.11 (US Dollar Index) America’s currency is crashing to new lows. All the while, America’s said financial “fiduciaries” are being willfully blind to this real-time global macro event.
The marked-to-market, Global Financial System, fortunately, must not be as stupid as Timmy Geithner thinks Americans are. Everyone with bucks is seemingly blowing them out again today. This assures a setup for the G-20 meetings in Pittsburgh where the world’s economic power is set up to shift.
The Chinese, the Russians, the Germans, the Australians – they’ll all be there, calling for the same thing. A diversification away from the US Dollar serving as the worlds Reserve Currency. No more Madoff. No more Stanford. No more Japanese style ZERO rates of return for your citizenry and creditors alike every time your stock market goes down.
From Bush to Obama, fully loaded with the most politicized financial system the US Government has ever overseen, does the world trust the US currency? The answer is in this chart. Price charts don’t lie; people do.
Keith R. McCullough
Chief Executive Officer