The WSJ Dollar Index, a gauge of the dollar’s exchange rate against seven of the world’s most heavily traded currencies, is up 3.4% in the past two months, after barely budging in the first half of the year. The Wall Street Journal on Tuesday stated that it rose 0.4% to its highest level since July 2013, as “a report showed U.S. manufacturing activity in August accelerating at the fastest pace in more than three years”.
That very well may be the case or it could be a loss of confidence in other currencies.
Nor does a rallying dollar change the fact that these following nations have all been large buyers of gold, and likely candidates for a future anti-dollar alliance. Some of them have already joined an anti-dollar alliance. But in order to truly safeguard themselves against the monstrous debt obligations worldwide and the debased US dollar, they must buy much, much more gold.
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