Alert - 10 May 2009
The US Dollar Breaks Down
Last week the US dollar dropped 2.7% against both the euro and the Swiss franc. The dollar fell 2.4% against the basket of currencies comprising the US Dollar Index.
The dollar has been in a bear market rally since last July. Last weeks decline is further evidence that this bear market rally has ended, which is clear from the following chart.
http://goldmoney.com/en/images/commentary-images/commentary-charts/alert_2009-05-10a.jpg
The last bear market rally in the US Dollar Index topped out on November 16, 2005 at 92.33 (green dashed line). The current bear market climbed to only 89.11, well below the previous peak, which is a clear sign of weakness. The pattern of lower highs therefore remains intact, confirming that this index is still declining within a long-term downtrend.
Importantly, we can see that the US Dollar Index has now broken down from the uptrend channel marking the present bear market rally. Then on Friday it easily knifed down through its 200-day moving average, currently at 83.01. Next support for the index rests around 80, which marked the December 2004 low (red dashed line).
It is too early to say that the US Dollar Index is headed for a new all-time low. It may be that this index is just moving into a broad trading range, say, between 89.11 and the black dashed line. After all, the euro and other currencies that make up this index are not in much better shape than the dollar. In other words, the purchasing power of all national currencies is being inflated away.
http://GoldMoney.com/en/commentary/2009-05-10.html
Duration : 0:3:20
25 Responses to “The US Dollar collapse starts now! - Peter Schiff”
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LOL all you want. …
LOL all you want. Something will trigger the collapse whether it happens in the next 28 days or the next 28 months.
National debt as in …
National debt as in “Federal Deficit Spending” which has NOTHING to do with the sovereign American individual….
Just saying…..
I gotta laugh at …
I gotta laugh at most of these comments. The USA, Inc has been bankrupt since 1800’s….Look it up, USA incorporated in England in 1871 and renew their bankruptcy every 20 years. Especially google HJR 192, ALL our gold was confiscated and given to European bankers….
WTF….never mind……all Americans should just go back to their regularly scheduled progam and TUNE OUT what is really going on….such as ALL YOUR property and future labor was pledged to pay interest on the national debt
woot! anti-NWO …
woot! anti-NWO conspiracy realists WERE RIGHT AGAIN!
Time to wake up everyone and acknowledge that corporate imperialism has taken over the US and is leading the way on our path towards fascist globalization
The NWO is now a recognized fact. Start researching Start spreading the information Start protesting Start attending street demonstrations. Peaceful noncompliance starts now!
WANT OUR COUNTRY BACK!? Then put your conditioning aside and acknowledge the pink elephant in the bedroom: the NWO
baronmorris you …
baronmorris you moron, the only reason a transistor went from 1.00 to .00001 or whatever you say is because we buy it from sweatshops in taiwan because our dollar has been much stronger than theirs. When our dollar keeps falling against other currencies then all of a sudden collapses against those currencies, that transistor will be 1.00 again. All this wealth has been phony from a manipulated dollar and gold price. Its time to pay the piper.
fuck gold. …
gold. arbitrary BS.
and that Mayan 2012 doomsday e too.
that said, peace be with you.
I’m sorry you don’t …
I’m sorry you don’t get it.
go hide in your basement with a gun, some canned goods, and your precious (think Gollum) gold. lol
the fiscal apocalypse is not at hand.
ur false scarcity-model is outdated.
read “The Accursed Share” by Georges Battailes.
peace
The government …
The government printing money has NOTHING to do with price of a freaking transistor. The US government has NEVER gone to this route EVER before and every other country that has ever tried it has had their currency collapse. This is not about technology advancment it’s about stupid monetary policy. By the way when the dollar collapses that transistor will cost 10,000 dollars.
I resist the …
I resist the tyranny coming!
so is antarctica. …
so is antarctica. your region is melting due to global warming. LOL
i agree with you, …
i agree with you, more than i agree with the others.
besides, even if the us dollar does fall, the us still has the worlds best uni and th best guns
Amerika is ed. …
Amerika is ed. LOL.
“we’ve only seen …
“we’ve only seen the first phase,” of the downturn according to Prechter. Next to come, is “a credit implosion” destroy the value of stocks, commodities and especially real estate. “The biggest area of overvaluation because of credit extension is the real estate area,” he says.
When this next phase of “deflationary depression” happens the only investment advice he can give is: safety first. “” And as discussed in a previous segment, that means investing in dollars or dollar equivalent ets
AVG COST of a …
AVG COST of a TRANSISTOR (used in all computers & many other technologies) has gone down exponentially in the same period of time.
Price of Transistor in 1970 = $1.00
Price today: $0.00000001
This is FAR LESS ARBITRARY & more pertinent to ECONOMY than ur coveted lumps of metal of poor tensile strength.
The last country to back their money w/ gold was Switzerland (40% b4 joining the IMF in 1999)
when will u wackos ever learn? the sky isn’t falling. ur not the prophets of doom.
peace
I prefer the …
I prefer the Georges Batailles Economic theory. Try “The Accursed Share”.
peace
amen
amen
AVG COST of a …
AVG COST of a TRANSISTOR (used in all computers & many other technologies) has gone down exponentially in the same period of time.
Price of Transistor in 1970 = $1.00
Price today: $0.00000001
This is FAR LESS ARBITRARY & more pertinent to ECONOMY than ur coveted lumps of metal of poor tensile strength.
The last country to back their money w/ gold was Switzerland (40% b4 joining the IMF in 1999)
when will u wackos ever learn? the sky isn’t falling. ur not the prophets of doom.
peace
very good, you can …
very good, you can hear, “what ifs” refers to conjectures without support facts, (not literally) coming from a man whose bias is apparent to anyone other than the people writing on this page and anyone else with common sense
Never says “if” …
Never says “if” pdidc0… not once…
To imply Schiff …
To imply Schiff wasnt saying the same thing and wasnt blaming BUSH and Greenspan is nonsense… Wake up… Read his book written in 2006… This is not rocket science… Austrian School of Economics is real, greenspan/bernake economics is a house of cards…
sept. 2009: gold …
sept. 2009: gold over 1000 dollar
mar. 2010: gold over 1200 dollar
the crack up boom ends in a hyper inflation 2012
well if Obama …
well if Obama wasn’t doing the same things that the bush administration was doing we might have some hope. Unfortunately for us, obama has adopted the bush policies but has multiplied them by 1000! it’s not a democrat or republican thing. both parties are to blame and to be honest the only difference in the two parties now days is their stance on a few social issues so there is no actual difference just a change of face. the government needs to get out of the way and out of our lives!!!
pdidc0,
Are you …
pdidc0,
Are you kidding me? Open your eyes… Do a little research… If anyone persued the same policies to try to fix the economy they deserve the same critisism. Get off the Obama high and wake up.. Theres no such thing as left/right anymore.. Besides Peter Schiff here has been predicting this for years.. I am proud to say I dont belong to either party anymore. The Bush and Obama Adminsitration has been trampling the constitution, both of their administrations.
Information is …
Information is Power.
You CAN make a diiference by write messages and web links on money to spread the word. Think of how many times just one dollar bill must change hands, then do it will every bill you spend.
Lets wake as many people up as possible!!!!!!!!!!!!!!!!!!!
peter schiff?…he …
peter schiff?…he throws in whole lot of what ifs in the beginning. How convenient for Republicans to advocate for the failure of the administration when they are not in power. They didn’t say a thing when it was happening before their eyes during Bush’s administration. Republicans messed up, give Obama a chance to fix things, and stop using politics to destroy this country