We've been hearing it for years. A matter of 'when,' not 'if'
Maybe this is, the tipping point?
We'll have to wait and find out.
Intentional devaluing coupled with the massive economic problems, and countries slowly but steadily divesting out of the US Dollar in their currency reserves. The Greenback is getting close to it's floor.
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Don't Like a Weak Dollar? Might as Well Get Used to It
Published: Thursday, 21 Apr 2011
By: Jeff Cox
CNBC.com Staff Writer
Weakness in the US dollar, which is causing everything to go up???including gas prices, food and stocks???is unlikely to go away soon as a selling frenzy hits the currency market.
The greenback is approaching pre-financial crisis lows and threatening to smash through its all-time low when measured against the world's predominant national currencies.
A combination of factors accounts for the weakness, with the Federal Reserve's easy-money policies, huge national debts and deficits and the consequential possibility of a debt downgrade because of the financial mess in Washington leading the way.
In short, as trader Dennis Gartman noted Thursday, "the rout of the US dollar" is in full effect.
"Panic dollar selling is setting in," Gartman, a hedge fund manager and author of "The Gartman Letter," wrote in his daily commentary. "This may carry farther than any of us dream of or, worse, have nightmares of."
How low can it go?
News Headlines
Maybe this is, the tipping point?
We'll have to wait and find out.
Intentional devaluing coupled with the massive economic problems, and countries slowly but steadily divesting out of the US Dollar in their currency reserves. The Greenback is getting close to it's floor.
---
Don't Like a Weak Dollar? Might as Well Get Used to It
Published: Thursday, 21 Apr 2011
By: Jeff Cox
CNBC.com Staff Writer
Weakness in the US dollar, which is causing everything to go up???including gas prices, food and stocks???is unlikely to go away soon as a selling frenzy hits the currency market.
The greenback is approaching pre-financial crisis lows and threatening to smash through its all-time low when measured against the world's predominant national currencies.
A combination of factors accounts for the weakness, with the Federal Reserve's easy-money policies, huge national debts and deficits and the consequential possibility of a debt downgrade because of the financial mess in Washington leading the way.
In short, as trader Dennis Gartman noted Thursday, "the rout of the US dollar" is in full effect.
"Panic dollar selling is setting in," Gartman, a hedge fund manager and author of "The Gartman Letter," wrote in his daily commentary. "This may carry farther than any of us dream of or, worse, have nightmares of."
How low can it go?
News Headlines
