For about 82 cents from my account, I would get one Euro.
Ping!
Ambrose has been yelling day after day that the dollar was about to collapse and a depression was imminent...
We’ve been hearing this for two weeks, but it is not being reflected in the exchange rate here in China.
Today $1.00 USD buys 6.86093 RMB Yuan, 15% less than 20 months ago.
Interestly, however, in April this year, I was able to get more Hong Kong Dollars for a buck than I could 15 years ago. Very strange.
The US$ rally was set into motion on August 4, by the movement of huge sums of money into short term US Treasury Bonds. The money for the bond purchases was funneled through Swiss and Eastern European institutions. We’re talking $50 Billion. It appears, though no smoking gun, that the funds that set off the US$ rally, was big Russian money. Russian money from connected insiders that knew in advance of the Russian invasion of Georgia. As it came to pass, the Russian invasion caused the Ruble to crash and Russian stock markets to do a swan dive.
All the Russian money pouring into the US$ set off a buying/short covering $ panic. Institutional/hedge fund black box trading algorithms are programmed to do the following when the dollar moves up: Sell Oil, Sell Gold and Commodities, Buy US equities.
The mass movement of Russian money into the $, combined with program trading is THE reason that gold and oil sold off on the news of the Russian invasion, a geopolitical event that normally would have had the opposite effect on oil and gold.
Ambrose Evans-Pritchard, International Doom & Gloom Ed.
Wow AEP, where did the Swami let you down...I thought you said we are all going to die...friggin’ frauds all!
For about 82 cents from my account, I would get one Euro.