(CHART) The US Dollar's Death Spiral Is Just Getting Started. By Gregory Mannarino
If you need yet another reason why you should be dumping US dollars, well here it is.
The chart below, is ticker UUP, dollar bullish ETF to date.
As is very clear to see, the US dollar is in a multi-month downward trajectory, in fact stuck in a trading channel, with no end in sight.
What makes matters even worse for the US dollar moving forward is again the federal reserve, who has promised to create inflation by any means necessary. What this means is we can all expect the downward trajectory of the US dollar to continue.
In my opinion, despite the fact that "dollar alternatives" such as precious metals and cryptocurrency's remain under pressure as of late, these are the places you need to be-simply because of the fact that the Federal Reserve is determined to continue devaluation of the dollar until they hit their inflation objectives.
Gregory Mannarino
If you don't want those crispy, green backs - I'll take them. There will be a battle between Alt currency and USD, which we've been seeing lately. It will only intensify as we transition to a fully digital currency... say 10 years?
It wont take 10 years...
This is even more concerning since the Federal Reserve just raised rates too!
Fed hikes interest rates despite declining inflation, sets plan for balance sheet reduction.
If you are looking for a good investment to step into during this downward spiral, please read my review of GameCredits that I just posted.
The cryptos have had a bad time of late and the metals hopefully things will turn around soon fingers crossed. Cheers mike
upvoted and resteemed
Somebody buy some Steem, the price has dropped thru the floor.
Any idea why? I see my posts are dropping in value.
Thank you!
US Dollar has lost a shit load in the last 3 months.
1 US dollar =$1.45 Canadian / now down to $1.29
Thanks for the reminder. I'm off to the Canadian casinos where the US buck still buys 30% more gambling and buffets!
Enjoy the 30% premium while you can.
The Canadian and US dollar will be par by year end.
Good time to buy Canadian dollars?
Canadian dollars? Not for me.
I want Litecoin and Veritaseum
Stay away from the $5 blackjack tables. That's where all of the playas who just got off the "dollar crash!" bus will be headed once they get their fill at the free buffet. :-)
Trading channels show trends. The dollar is going down without doubt. Channels however imply a relatively smooth trip. I doubt this trip will be smooth. I expect the bottom to drop out quickly. But that is reason to exit sooner!
This just made my day!
Thanks for the info @marketreport. That chart is pretty ominous. Time to sink some more fiat into some real assets. Thanks Greg.