The US Dollar: Laughing Stock of the Global Marketplace
The Underground Investor's JS Kim is great; in reading him, one realizes that he probably wants to insert an expletive or two between his assessments but because he's a classy sort of guy, he bites his tongue and inserts snarky commentary on those who are methodically imploding our dollar instead. It's truly an art. Kim also gets the Jr Deputy Accountant stamp of approval for his position that fraudulent fiat money is the root of this crisis, going so far as to institute a gold standard for his own company. Now you're talking...
Via Kim's Dollar Chart Tells a Much Different Story Than Pundits Do (again, always glad when I'm not the only one calling BS):
CEOs from every industry imaginable are saying that the global economic crisis has bottomed and that the recovery will definitely be recognizable and reach a sustainable status by the latter half of this year. But in my opinion, every single one of these CEOs falls into one of either two categories. (1) CEOs that have zero understanding of this global crisis; or (2) CEOs that understand this crisis yet will unethically lie to the masses. Today, in my business travels throughout Asia, the US dollar is still only nominally stronger than monopoly money. Two years ago, when I spoke to a friend of mine whose family owns a large construction business in Dubai, when I asked him if his family business accepts US dollars for payment, his response was laughter. The truly ugly US dollar chart below also confirms the stance I take in this essay. It does not surprise me at all that the banking elites continue to lie about the true state of this crisis. In fact I would expect no less from this sector of society that former US President Andrew Jackson once labeled as “vipers” and “thieves”. However, I am still, at times, astounded at how easily the masses allow themselves to be manipulated by their nonsense.
The chart to which Kim refers:
I, too, find the dollar's weakness to be a tad bit suspicious.
And hey, dollars are down, oil and gold are up, commercial real estate is still threatening to break - what happened to that? Good morning, America! Our dollar is dead! (Bloomberg video on the "Great dollar sell-off")
Ready for more LOLZ? A blast from Ben Bernanke's past, a mash-up starting from 2005 discussing "the housing markets are frothy but safe, I believe in the fundamentals, there's plenty of liquidity, the auto companies are great" blah blah blah.
I am convinced at this point that about 70% of "experts" are liars, 20% are simply confused, and 10% are maliciously attempting to pass off a phony before the truth comes bursting forth. As if you couldn't SEE this? And maybe 2% of those "experts" are actually well-informed and entirely honest in their intention but who can possibly hear them above the noise?