Devaluation of US Dollar
US dollar continues downward trend as major commodities oil, gold, silver, platinum... surge higher.
Higher oil prices (due largely to OPEC cut of 1 million barrels a day in response to Biden not replenishing US oil reserves) resulting in higher gasoline and diesel prices, which will pressure inflation higher.
De-dollarization continues to erode the US dollar.
Federal Reserve is expected to pause rate hikes in April, 2023, which will further erode the value of the dollar.
Gold, silver, platinum and other precious metals surged today with gold surging past $2000 to $2020 an ounce, and silver eclipsing $25 an ounce.
The Federal Reserve is cornered between preventing an economic collapse and reigning in inflation to 2%.
On April 12, 2023 new inflation numbers will be released. A surge in inflation from 6.0% or even a static number will intensify the economic predicament.
Are the dire economic circumstances according to plan or the result incompetence?
The devaluation of the dollar makes the US debt holdings less in terms of overall value. Is the US neocons/neoliberals planning to use their gold reserves to pay off the debt at some point?
The devaluation of the dollars hurts consumers using dollars by decreasing their purchasing, this affecting their quality of life. The main culprit of high inflation is decades of reckless, shortsighted money creation.
Are the Trump indictments distracting people from NATO's failures in the Ukraine Proxy War and the failing US economy?
Stephen.Garvey@EmergingGlobalRealities.com