The U.S. Dollar, the Market, and the Day of Reckoning

Email Print
FacebookTwitterShare

Despite all of the rhetoric we hear from mainstream economists and our government masters, the unprecedented printing of U.S. Dollars is taking its toll:

The U.S. dollar’s day of reckoning may be inching closer as its status as a safe-haven currency fades with every uptick in stocks and commodities and its potential risks – debt and inflation – are brought under a harsher spotlight.

Ashraf Laidi, chief market strategist at CMC Markets, said Wednesday a “serious case of dollar damage” was underway.

“We long warned about the day of reckoning for the dollar emerging at the next economic recovery,” Mr. Laidi said in a note.

Not that the Dollar was any great thing before Greenspan and Bernanke gave us their tag-team effort to utterly destroy it, the markets are speaking about our doomed currency and speaking loudly. The response from Washington? “Move along, people, there’s nothing to see here….”

6:44 am on May 21, 2009
  • LRC Blog

  • LRC Podcasts