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The Rest Of The World Is Waking Up


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John Embry:  “One issue that is being discussed with greater frequency, although never mentioned in the mainstream media, is the subject of de-dollarization.  Stephen Leeb has done an excellent job discussing the subject.  However, the true ramifications of this for the Western world cannot be understated.  The U.S. has benefitted enormously from their privileged position of providing the world’s reserve currency since the Bretton Woods agreement in 1944.  The U.S. has abused this privilege terribly, living far beyond its means while flooding the world with increasingly more worthless U.S. dollars.

                 But the rest of the world is waking up to this unpleasant reality and taking steps to address it.  When the U.S. dollar loses its status as the world’s reserve currency, and that day is rapidly approaching, the implications for the vastly over-indebted bottom 75 percent of the American public are horrifying.  At least half the population is already living day-to-day, with a virtual inability to meet an unexpected expenditure and absolutely no retirement savings to speak of.

               Thus, the Western central banks are working overtime, in unison, to extend the current fantasy as long as possible.  Interest rates are being held at ridiculously low levels, which are totally at odds with the rapid debasement of all global fiat currencies.  Stock markets are being supported at historically overvalued levels.  And real estate continues to be a major beneficiary of these developments.  When this ends, and it most assuredly will, the living standards in the West will be devastated, and then we will find out how well Western society holds together.          

         As part of this whole exercise, gold and silver are being relentlessly suppressed in the paper markets in London and the United States.  You could see the recent takedown coming as Open Interest on the Comex grew relentlessly as the bullion banks, who are acting as agents for the Western central banks, shorted enormous quantities of paper contracts in order to halt the rally.  At the same time, they trotted out their agents in the media and elsewhere to spread their usual disinformation.

But the Eastern hemisphere is on to this fraud being perpetrated by the Western central banks and they are relentlessly buying physical gold, while rapidly taking steps to dethrone the U.S. dollar.  When the dollar is finally dethroned, investors who have large physical gold and silver holdings as well as their respective shares will be the ones who survive because these assets will be one of the few ports in a violent financial storm.”

 

One must ask the question.  If the US dollar is decreasing in value, how does this effect the realation or valuation of the IQD.   After all, questions sometime are more important than answers.  Charlie Echo

 

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I had been wondering about this also??? the valuation of the IQD?? especially when we have herd that the dollar is tied to the IQD,and than you have all these countries pumping money into Iraq, every time we turn around  ,Now ask yourself this question?? why would the World be forgiving debts that Iraq owed???????, we are talking BILLIONS OF DOLLARS, and than loaning them probably more, than they owed in the first place ,and than all the delays, time and time again, I think they are purposely waiting for the World Money Reset, before they revalue there money ,you can't help wonder why??????????????? Other than the Oil excuse??? when we are finding all these different ways to be more efficient in the Energy World where oil will be less sought after, this to starts to make less sense ,Watson there is something a foot?

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image.png.5cb4fef7692bae07190f0ad9b33fcb69.png

 

If you can read a chart... enough said... 

 

There's nothing fancy here, just the basics of moving averages, RSI, stochastics and MACD. There's not much to encourage Bulls in the daily chart: every attempt to regain the support of the 20-day moving average has failed, and triggered another leg down.

RSI and stochastics are oversold, but as this chart illustrates, oversold conditions can continue for quite some time. MACD may be setting up the beginnings of a divergence/reversal, but maybe not. At this point, betting on a reversal might be a case of catching the falling knife.

The weekly chart is even more dramatic. Judging by the steep decline this year, the world is ending--at least for the USD. RSI is oversold for the first time in 2+ years, stochastics have been deeply oversold for months, and MACD is in a cliff-dive that could end in a belly-flop.

The only shred of bullish hope is the decline has finally reached key support/resistance at the 200-week moving average (MA) around 92, a level that also happens to be support going back 2+ years.

A definitive plunge below this support would suggest the freefall has more to go, while a defense of this level would offer some initial stirrings of support for an eventual reversal.

A quick glance at the open options a couple months out on the USD ETF, UUP, finds significant volumes clustered around strike 24 puts--bets UUP will drop below its current level around 24-- and strike 25 calls--bets that the USD will recover in a sharp rally.

Punters seem well-positioned to hedge a big move up or down--just what we'd expect after months of steep decline to a key support zone.

Is the Eurozone economy and banking sector fixed, and all the EU political tensions resolved? Is the Eurozone doing much better than the U.S. on all fronts? The sharp gains in the euro seem to suggest so. Skeptics might want to keep an eye on the USD charts for a market-sentiment read of these political-social-financial trends.

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