This is SO significant and yet the talking heads have not given a hint of the significance of this record breaking fall in the US $. Just a few thoughts:
The $ at near 0% and shrinking in value should finally shut off the purchases of notes, bills, and bonds.
Break-the-banky wants to buy debt! And he wants to keep the Fed reserves up! The only way they can do that is to create more $'s. Add this massive currency inflation to the weakness in the US economy and the fall in the $ becomes self reenforcing! The $ is the worlds reserve currency for heaven’s sake!
If the $ pays no interest, and it is losing value in real time every day... that kind of makes that old “gold doesn’t pay interest” argument rather vacuous. The question, as always is, “Which would you rather own?”
In its effort to “save the economy” the Fed has committed to buying all forms of debt. Mortgages, MBSs, agency debt, long term securities.... Hey I got an IOU I want to dump on somebody!
The fed in an impressive one liner says “inflationary pressures have diminished...” This is unbelievable. The Fed chairman does not know what real inflation is; he will print and dump fiat by the ton and claim inflation is done.
This is all so bullish for gold and silver..... But don't say anything to anyone, it may wake the sheep.