Old Joe

Excellent concise perspective!

The world is bulging with unwanted U.S. dollars. The two largest holders, Japan and China welcome weakness in metal prices as they have an opportunity to trade in their eroding U.S. dollars for something real.

Articles like this one, yes, do report changes in the base metal prices but the main theme is the U.S. dollars held its value while base metals didn't. Yes, there is a slant here to the story. This is an old trick, post something real like price changes, weakness is much better, and plug in the comments that appeal to and support your agenda message. If you can't read between the lines like Old Joe then you get sucked into to their vacuum of dollar delusion.

Does the weakness in Copper surprise anyone? It doesn't surprise close watchers of its price action as the metal has had its share of troubles in the $3.75-$3.80 zone. Last on copper is $2.94 with the $2.80 area looking like a reentry point for the longs. Zinc's last is $0.9943 and looks like another reentry point. The lead price is a mystery at $1.33. An important trendline at $1.55 is now history.

The article would have been better stated: Is it time to trade dollars for base metals? Heard the other day that the current inflation rate in the US is 20%. Even if you bought some of the base metals in here and they went a little lower, it would be a lot better than holding US dollars.