From King World News
With gold trading at all-time highs and silver at multi-decade highs, today King World News interviewed James Turk out of Spain. When asked about the US dollar Turk stated, “The key development is that the US dollar is in fact breaking down. This is something that we have been talking about for a few weeks now and the dollar index here in Europe is at the lowest levels since November of 2009. We’re closing in on those lows of 74.17, once that level breaks the floodgates open. Put another way, the dollar falls of the edge of the cliff.”
“Let me give you some reasons why I am focusing so much on the dollar. Here in Europe they have started acknowledging the growing inflationary pressures. As a consequence the ECB yesterday raised interest rates a quarter of a percent. It’s a small step but going in the right direction. What the KWN readers globally need to understand is that what we are seeing is a trend change in interest rates, a directional change in the cycle.
So it is not too surprising to see the Euro breaking above the $1.42 level that we discussed in our last interview. That was an important tactical point and suggests that the Euro is headed toward the $1.50 mark. Meanwhile, on the other side of the Atlantic, the Federal Reserve is asleep at the switch because they contend there is no inflation. Here we have crude oil prices at $112 a barrel and gasoline prices are putting a big dent in the consumer’s pocketbook.
It is important for the readers to understand that there are two “dollar destroyers” at work here. In addition to the Federal Reserve, the politicians in Washington DC are spending money so quickly that the federal deficit for the first six months of this year has already eclipsed the first six months of last year by roughly 10% despite promises to control spending. These twin “dollar destroyers” have created a significant possibility of a waterfall decline leading to an earthshaking dollar collapse.”...
Jim Rogers: U.S. Dollar may be Near “Tipping Point”
From Beacon Equity
“If it keeps going down, I’m going to have to dump the rest of my dollars, and then it’s all over for the dollar.”
“If it goes down 3% or 4% from here, I would have to sell and get out and hope I’m still solvent. Then it’s going to, you know, multi-decade new lows.”
Somewhere along the line we’re going to have a tipping point for the dollar, then, it’s all over,” Investor Jim Rogers chairman of Rogers Holding said about the dollar in recent interviews