"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput

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Friday, March 4, 2011

The US Dollar - sick and looking sicker

Even with a safe haven bid seen in the markets today on account of a roaring crude oil price, the US Dollar cannot get any sort of decent bid - This fact, more than anything else, is telling us that the Dollar is very close to crashing through major chart support just north of 75. After all, if it cannot rally on the payrolls number in combination with a safe haven bid, what is it going to take to rally it??

The facts are nearly every other major nation, with the exception of Japan, are now fully engaged in the battle against the Kraken (inflation monster). Only the US Federal Reserve refuses to see the obvious. They will print, print some more, and keep on with their damn printing, until they succeed in driving King Dollar into the latrine.

1 comment:

  1. that is one sad looking chart. If it can't hold 75, wow....


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