by Jeff Paul, Activist Post:
The US Dollar is quickly weakening compared to commodities, cryptocurrencies and other national currencies. Is it a normal cycle? Or is it something more serious this time?
Economist and money manager Peter Schiff recently summarized the current trajectory and consequences of the falling dollar in this tweet:
The U.S. dollar Index just broke below 90. Which will happen first, Dollar Index breaks below 80, Gold breaks above $1,500, 10-year treasury yield rises above 4%, or oil prices rise above $100 per barrel? What happens to the stock market & the economy if all 4 happen this year?
— Peter Schiff (@PeterSchiff) January 24, 2018
The dollar has fallen to its lowest level on the US Dollar Index (DXY) since December 2014:
The US Dollar is considered one of the least-worst national fiat money in times of financial crisis because of its petro-dollar status as the world’s reserve currency. Yet everyone is beginning to understand that it will eventually lose that status and its dominance. But when?
The recent peak in the strength of the petro-dollar was also marked by a low of $40.59 for a barrel of oil in January 2016, and it has been on a clear march higher for the past six months.
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