Embry: “Someone has actually used the expression ‘dollar strength’ because the U.S. dollar is rising. The reason it’s rising is because the European and Japanese currencies, which are the main currencies in the Dollar Index mix, are collapsing for good reason….
“The European and Japanese economies are in even more dreadful shape than the United States economy. So in this race to the bottom among currencies, right now the European currency and the yen have taken the lead to the downside vs the dollar.
This is why people are trying to say we are seeing ‘dollar strength,’ but in the end the dollar remains the most vulnerable currency because every day you see another announcement that various international entities are planning to remove U.S. dollars from their transactions. There is a massive overhang of U.S. dollars around the world for the express purpose of these transactions.
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