Concerns are rising in US media over a much-feared shock to the dollar once Iran and P5+1 reach a deal over the Iranian nuclear energy program.
The dollar is getting perilously close to losing its status as the world’s reserve currency, and the nuclear deal with Iran could push it over the edge.
Read more: Fears rising Iran deal may kill dollar
Tagged with: dollar
The central bank high is euphoric, the crash and burn equally epic.
Just out of curiosity, I called up a few charts of key markets: stocks (the S&P 500), volatility (VIX), gold and the U.S. dollar (UUP, an exchange-traded fund for the dollar). Interestingly, all of these charts displayed some version of a wedge/triangle.
In a wedge/triangle (a formation with many variations such as pennants), price traces out a pattern of higher lows and lower highs, compressing price action into the apex of a triangle as buyers and sellers reach an increasingly unstable equilibrium.
As price gets squeezed into a narrowing band, the likelihood increases that price will break out of the triangle, either up or down, in a major move.
So which way will these markets break–up or down?
Tagged with: dollar
, technical analysis
Originally appeared at GoldSilverBitcoin
Google is known as a massive technology company. Best known for its Search, Adwords, Adsense, Analytics, Google Books, Google News, YouTube, Google Voice, Google Maps and other products and services, something Google is not known for is financial advice, but that might be changing. (more…)
Stacy Summary: I do appreciate a little context.
Stacy Summary: via Youri Carma, comes this headline from Bloomberg news.
Russia Sanctions Accelerate Risk to Dollar Dominance
While no one’s suggesting the dollar will lose its status as the main currency of business any time soon, its dominance is ebbing. The greenback’s share of global reserves has already shrunk to under 61 percent from more than 72 percent in 2001. The drumbeat has only gotten louder since the financial crisis in 2008, an event that began in the U.S. when subprime-mortgage loans soured, and the largest emerging-market nations including Russia have vowed to conduct more business in their currencies.
“The crisis created a rethink of the dollar-denominated world that we live in,” said Joseph Quinlan, chief market strategist at Bank of America Corp.’s U.S. Trust, which oversees about $380 billion. “This nasty turn between Russia and the West related to sanctions, that can be an accelerator toward a more multicurrency world.”
It seems everything started going wrong for the American empire from 2001. I think future historians will mark that as the beginning of the rapid part of the end.
There are a lot of things wrong with fiat printed money like euro and dollar. But this article doesn’t point out the downside of fiat money, but the upside of Maxcoin.
Maxcoin is a coin with big opportunities for everyone. Not only as a payment system, but also as an investment.
Gold sales from Australia’s Perth Mint, which refines most of the gold bullion from the world’s second largest producer, rose in October as a drop in prices to a three month low led to increased demand and the mint filled a backlog of orders. (more…)