The Dollar is taking a beating in the global markets & no one is doing anything about it. Ben Bernanke & the Fed, who are supposed to keep the Dollar on an even keel, are like the captain of the Titanic preparing to ride the current course to the bottom of the financial sea. The citizens who rely on the Dollar many will find themselves with out a life-boat to survive.
With the negative forces impacting the Dollar, the battle in Congress over the National Debt, Bernanke’s refusal to raise the rates along with QE2 continuing, & the Presidents refusal to hold any of these accountable, it appears set to blow right through the previous lows. Dennis Gartman, hedge fund manager and author of The Gartman Letter was quoted on CNBC, Panic dollar selling is setting in… This may carry farther than any of us dream of or, worse, have nightmares of.
Also, the shot across the Fed’s bow by S&P about a potential down-grading of the US credit status sent the Dollar on its latest downward drive. The Dollar is in jeopardy making it harder for the average Joe on the street to make ends meet.
If the predictions of $6 a gallon gas and other energy prices sky rocketing it will be hard for the Dollar to survive possibly sending the economy into a second recession. Sean Hyman, currency director for World Currency Watch told CNBC, It doesn’t help anything that commodities keep going through the roof. There are a few dynamics working in a concerted effort all at once, and that’s killing it.
Should the Dollar sink those who are invested in a Tangible Asset Portfolio will have the added financial security of gold & silver working to help them survive. This is life insurance against the failure of the US Dollar, take time today and start or add to your personal TAP.