alpha24seven

Only Gold Can Replace the Greenback As the World's Reserve Currency

Nicely done. Currently presented along the same lines is this nonsense that oil will move from dollar denomination to Euro denomination. Because the Euro currently trades at near 1.50 to the dollar, this allows the EU zone to be buying oil at a steep discount. Some argue the reason that oil is this expensive in the first place is because of US dollar policy. Maybe so, but if oil were to reprice in Euros, the immediate shock would be a near 50% one day increase in oil in the EU and this would savage their economy.

Oil will not be denominated in Euros any time soon.

Dollar Breakdown to Ignite Gold Market

Perhaps I'm reading that chart wrong, but it looks bullish for the dollar to me. I see a double bottom forming with the first leg on Sept 25 with the other leg around now. I see the MACD in the oversold area (never trust the MACD BTW)

In the pennant I see compression leading to an upside bounce.

On fundamentals. The EU is a train wreck and I see fundamentally no reason to diversify currency reserves to the base currency of a consortium of constantly revising down countries. The French have serious issues and the Germans will have to absorb the increase of a very large jump in VAT come January.

I'll take the other side of that trade.