Dan Walker

OPEC's Move to Devalue the Euro

The dollar will be forced up by the market if not by OPEC. The Chinese equity market has already dropped over 50% from last year's high and as another article here points out, it has another 1000 points to go before it hits any support. Inflation there was estimated at 7% and 8% per annum respectively for the last two months which makes them among the better off in Asia inflation-wise. Sooner or later the smart money will realize that all this 'increased Asian demand' will be another 5 years down the pike and short oil until it overshoots where it 'should be trading' by $20-40/bbl. That gets us to $35-55/bbl, which, as our friend who posted this article points out, will force the dollar higher by default and with no effort on our DC idiots' part. Let's just hope they don't do something to screw it up.