The dollar is plunging because America has been living beyond her means, borrowing $2 billion a day from foreign nations to maintain her standard of living and to sustain the American Imperium.
The dollar is collapsing because every foreign investor with an IQ over 70 knows damn well that the U.S. is embarking on a well-planned effort to engage in a program of massive inflation to pay off our silly, delusional ideas about maintaining a standard of living that we simply cannot afford.
I said this two years ago, and it's looking more real by the day . . . It's 1973 all over again, folks.
You are correct.....remember all the home equity borrowing just a fews ago? Now there’s 4.4 million brand new homes setting empty across the nation. The ‘10-City median price of a single family home’ is -5% less than it was in 2002. Where’s the equity in those now?
Part of the dollar’s fall is opec’s increasing reluctance to accept it for oil.