The Phaserl


A Dollar devaluation is around the corner, you better have Silver and Gold

by JB Slear, Fort Wealth:

US Dollar is trading at a high of 83.770, actually down 6.4 points from yesterday’s close and almost 100 points higher than Wednesday’s end. The Dollar rally was not because of good things happening in the “land of the fees”, but because on Thursday the EU desperately cut interest rates to .05 of 1%. That gives our Treasuries a boost in demand (they’re trading flat at the moment) because we actually pay a better return than Europe, about 1/10th of 1% more (what a joke return). Energy Sector continues to not perform with the fundamentals pointing to skyrocketing prices, however, the Algo’s have been instructed to keep the prices low with Crude Oil now at $94.66, only 21 cents higher with the rest of the sector stuck as well. Gold, which we think did a stellar job yesterday holding onto its value as the Dollar was elevated, is now trading at $1,266.60, up 10 cents with a small drop in its Open Interest (2,992) leaving 368,523 overall positions held overnight. Under normal circumstances, Gold would have been hammered $50 on a Dollar rally like we had yesterday. Now the Dollar is way over bought and Gold way oversold. Silver faired even better in yesterday’s movements and its trade is now at $19.135, down 3/10ths of a penny with an Open Interest drop of only 502 contracts leaving a very hefty count of 161,806 still in the game. We had an increase in physical deliveries as 39 contracts received their warrants with 4 more contracts added to this month’s deliveries.

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4 comments to A Dollar devaluation is around the corner, you better have Silver and Gold

  • Silver86

    Sorry, dollar is still king – I would’t expect a dollar devaluation anytime soon – in fact, I’d look for the opposite, a rising dollar and fleeing from other markets. Regardless of what everybody is saying, the US is actually doing pretty good right now. Now… couple years from now… perhaps a different story.

  • mac

    US economy is not doing well as the presstitutes lie about it all day, every day…hey 6 companies own the media, and Hollywood is very under control, too. Perception molders!

    USD Euro Yen Pound cdn and Swiss – that is the Dollar basket…so if war in Euro, then the dollar may soar, so devaluation is only b/c Euro is weak.

    Real value is the USD vs Gold Price. Get it?

    • Silver86

      Nah… dollar is best there is right now and probably will be that way for awhile. What are you going to buy instead? Yen, Ruble, Yuan? Gold (how many people actually purchase gold in the US for reasons besides jewelry?). We’ve had some inflation, but nothing proportional to a 7x rise in gold.

      Dollar is the goto place for awhile.

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