Editor's note: This is a brief excerpt from Keith McCullough's Morning Newsletter. Click here for more information on how to subscribe.
Most people who are in the business of telling me that my being in some cash isn’t cool don’t look as cool as our YTD return in US Cash does. At +11.1% YTD and the US stock market down for 3 straight weeks, US Cash is king!
For those same people who didn’t know that a rip-roaring ramp in the US Dollar was going to crash both Foreign Currency and Commodity markets, worldwide – now they know. Here’s what that “stuff” has done in the last 6 months:
- Euros have crashed, losing -19% of their value for the European people who earned them
- Japanese Yens and Canadian Loonies have been devalued by -11.6% and -13.2%, respectively
- Brazilian Reals have crashed -28%
- Russian Rubles have collapsed by -39%
- Commodities (CRB Index, 19 commodities) have also crashed, -25.3% in 6 months
- Oil (WTI) has been bludgeoned, losing -50.3% of its “value”, over the same time period