On Aug. 22, about 2½ months from today, the most significant development in international finance since 1971 will be unveiled. It involves the rollout of a major new currency that could weaken the role of the dollar in global payments and ultimately displace the U.S. dollar as the leading payment currency and reserve currency…
U.S. Dollar “Fear Mongers” Only Need to Be Right Once…
The fact is that warnings about the precarious nature of the U.S. dollar – whether bombastic or not – are probably more important today than they have ever been. But these warnings can’t compete with 50 years of the “trend being the United States’ friend”, a hurricane force tailwind that includes politicians on both sides of the aisle, the nation’s central bank, the treasury secretary and the roaring concert of all financial news media…
Here Comes the Open Revolt: A Reeling Europe Lashes Out At the Fed for “Bringing Us to a World Recession”…
As a result of the Fed’s relentless tightening blitz, which on November 2 will have hiked rates by 75bps on four occasions in just 96 trading days, the fastest tightening campaign since Volcker, both US capital markets (the S&P 500 is down -24%, for the 4th worst year on record, only 1931, 1974, and 2002 were worse; and 10Y TSYs are down -17% for the worst year on record… 1987 second worse, and bonds were down -10%) and the US economy have been left reeling…