Dollar falls off cliff

[Serpo]

..



http://www.goldseek.com/quotes/charts/usdollar/usdollarindex24hour.php

[PatColo]

Eewwww! :o

Here's a live USD java chart (http://netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChartPopUp.aspx?symbol=!DXX|ms_dla&name=US%20Dollar%20Index), 1 hour price bars, change that with the buttons at top.

74.51 right now.

[osoab]

That is ugly.

The DOW is up though on the bucky's movement. All is good.

[solid]

I think I may ask to get paid in Canadian dollars. I wonder if work would do that.

[PatColo]

just got bopped from 74.46 to 74.30 in about 1 second, another mini-cliff-event. Watched it go boom on that live netdania chart (http://netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChartPopUp.aspx?symbol=!DXX|ms_dla&name=US%20Dollar%20Index).

74.35 now.

[solid]

I wonder if today's the day. I keep thinking one day I'll wake up, pour a cup of coffee...and just watch the dollar go swirling down the toilet in unstoppable madness.

Could be it.

[Serpo]

I wonder if today's the day. I keep thinking one day I'll wake up, pour a cup of coffee...and just watch the dollar go swirling down the toilet in unstoppable madness.

Could be it.


Depends if someone pushes the button.....

[Serpo]

just got bopped from 74.46 to 74.30 in about 1 second, another mini-cliff-event. Watched it go boom on that live netdania chart (http://netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChartPopUp.aspx?symbol=!DXX|ms_dla&name=US%20Dollar%20Index).

74.35 now.


See what you mean faaaaaaaaaaaaaaaarkkk

[Neuro]

Will Spain come to USD rescue?

[solid]

Depends if someone pushes the button.....


Right, I remember awhile back when some fat fingered idiot collapse the DOW 1000 points by pushing the wrong button..

That would be the response..."Don't worry folks! We got a guy who pushed the wrong button, go back to watching American Idol."

I remember someone posting long back, that once the dollar falls past a certain point, it's going to go into a freefall. Was that around 70?

[Serpo]

Depends if someone pushes the button.....


Right, I remember awhile back when some fat fingered idiot collapse the DOW 1000 points by pushing the wrong button..

That would be the response..."Don't worry folks! We got a guy who pushed the wrong button, go back to watching American Idol."

I remember someone posting long back, that once the dollar falls past a certain point, it's going to go into a freefall. Was that around 70?


Yes under 70 there is nothing....
Looking at the monthly chart at Patcolos link you can see why.............(alter time to monthly at top)

[PatColo]

I wonder if today's the day. I keep thinking one day I'll wake up, pour a cup of coffee...and just watch the dollar go swirling down the toilet in unstoppable madness.

Could be it.


click the "M" for "Monthly" in the netdania chart- we're re-testing the lows of 11/09, but not yet first half of '08 when USD was bouncing around the upper 70.xx area. If we collapse here to below 11/09 level, she may or may not take out 70 like budduh, then the horse will have left the barn.

Silver's high's $44.83 now, and gold's been trading >1500 for several hours, not just another quick kiss & goodbye, which should make a blip in the news. USD's weakness should keep some buoyancy under gold such that it stays >1500 though comex session, and closes there. Any other outcome would be the cartel's handiwork. G/S ratio 33.6 presently.

[gunDriller]

I think I may ask to get paid in Canadian dollars. I wonder if work would do that.


write a book and find a Canadian publisher. then you might get paid in Can$.



just got bopped from 74.46 to 74.30 in about 1 second, another mini-cliff-event.
...
netdania chart[/b][/url].

74.35 now.


that netdania chart isn't working for me - says i don't have Java.

and i just drank some coffee !

so there's always Kitco ...

http://www.weblinks247.com/indexes/idx24_usd_en_2.gif

[mamboni]

It feels like dollar panic has hit the markets - massive flight into gold and silver and the platinum group metals. The FED risks a massive meltup and hyperinflation if it stands by and does nothing. Very scary!

[JDRock]

...the planned dollar crash goes right on schedule :oo-->...a fools hope remains for a metal backed currency, but we all know the replacement currency will be even worse than the frn.
to add insult, they will prolly put a valuation of an oz of silver at a 1 to 1 ratio......again, its not who holds the PM's that makes the rules its the tribe that owns the media, and hence, frames the terms in which the public will hold the debate. There will be NO intelligent disscussion of a bi-metallic standard, only propaganda about how " the crisis calls for drastic action"....and old man rothschild has EXACTLY what the sheep will be led to cry out for.

[Ponce]

I am soooooooooo glad that I got my Canadian dollars......another browny point for Ponce? ;D

[SHTF2010]

I am soooooooooo glad that I got my Canadian dollars......another browny point for Ponce? ;D


you don't really think Canadian $$$ are any better than US FRN's
they're just another paper promise


if you don't hold it ( physical PM's ) you don't own it

[Son-of-Liberty]

I am soooooooooo glad that I got my Canadian dollars......another browny point for Ponce? ;D


you don't really think Canadian $$$ are any better than US FRN's
they're just another paper promise


if you don't hold it ( physical PM's ) you don't own it


Well CAD is gaining vs USD but still losing value vs PM's just not as fast as the USD.

[learn2swim]

From what I read yesterday, the FED might have something up their sleeve.

L: David, in recent editorials you’ve warned of what could be an important shift in Fed policy – can you fill us in?

David: Sure. The purpose of The Casey Report is to keep subscribers well positioned in powerful, long-term trends – the kind of trend that will keep giving and giving. The trend in precious metals – gold and silver – which we’ve been heavily recommending for ten years is a good example. The overarching goal of The Casey Report is first and foremost to identify those critical larger trends and then closely monitor them until they play out – which is another way of saying that we aren’t big about market timing or jumping in and out of trades. I mention this to set the context for the coming shift in Fed policy.

L: And that context is?

David: That the shift, and it is imminent, will not change the larger trend, but it has the potential to be quite disruptive over the short term.

L: Explain.

David: In terms of the larger trends, the fundamentals that have caused so much pain and economic woe over the last ten years or so remain intact. If anything, they’ve gotten worse. We’ve gotten currency debasement, not just in the U.S., but especially in the U.S. dollar, which is not just any currency, but the world’s reserve currency.

We’ve got a truly mind-boggling expansion of the reach of government into all aspects of society and the economy, with all that that implies in terms of regulation, taxation, controls over investments and finance, impact on personal liberty, and so forth. By recognizing this destructive trend for what it is, investors can position themselves to avoid the worst, and to profit by betting on things like the continuing debasement of the dollar.

So that’s the big picture.

There is growing evidence that in the next month or two, we will head into a very dangerous period. The Fed has been extremely supportive of the U.S. government’s insane spending, polluting its own balance sheet by buying up toxic loans by the hundreds of billions and by pumping enormous quantities of cash into the money supply.

You don’t have to look very hard to understand why we have seen some small recovery in the economy, much of which has been driven by the financial sector that has been the recipient of so much largess – it was bought and paid for by the government, working hand in glove with the Fed.

But there is about to be a fundamental change in this arrangement. It appears that the Fed has decided that it’s time to take a step back from its monetization – or quantitative easing (QE), as they now term it – in the hopes that the market will step in to fill the large gap it will leave.

They can’t know how that’s going to work out, but if they don’t stop pumping money into the economy, they never will know if the quantitative easing has worked.

Based on a lot of statements from a number of the voting members of the Federal Open Market Committee, the change just ahead is that they are serious about stopping QE in June.

As they won’t wait until the last minute to confirm the end of their Treasury buying, I would expect their intentions to be made clear following their end-of-April meeting, the full minutes of which should be released in early May.

L: To be clear, do you mean no QE3, or that they cancel the portion of QE2 they haven’t spent yet?

David: They may leave themselves a bit of wiggle room by holding back some of the funds slated to be spent as part of QE2, in the hopes of demonstrating a high level of confidence in their decision to stop the monetization.

That would also give them a bit of powder to use should the need suddenly arise, without exceeding the mandate of QE2. The important point is that I am increasingly sure they won’t just roll out QE3, and that will have consequences.

L: Are you saying, no QE3 at all?

David: No. I think there will be a QE3, but it won’t materialize until after a relatively lengthy period during which the Fed stands aside in order to give the market the opportunity to adapt and adjust to their exit from the Treasury auctions. In other words, once they stop, I wouldn’t anticipate them jumping right back in at the first sign of trouble – say, if the stock market crashes.

In time, however, as the ponderous problems weighing on the economy come back to the fore and return the economy to its knees, the Fed will be forced to reinstitute the monetization, though they will likely try to come up with a moniker other than quantitative easing to describe it.

L: You’re as cheerful as Doug. Why are you so sure there will be a QE3?

David: Because the problems that made the economy stumble in 2008 have not been solved. As I said before, most have gotten worse. Have the impossible levels of sovereign debt and trillions in unresolved bad mortgages embedded in the balance sheets of Fannie, Freddie, the Zombie Banks and even the Fed been resolved? Hardly.

Is there any real sign coming out of Washington that the deficits will be substantively tackled? You don’t have to be as active a skeptic as I to understand that the deepest spending cuts being discussed don’t even scratch the surface of the $1.5 to $2 trillion deficit. As for the $60 trillion or so in debt and unfunded obligations, forget about it.

The U.S. government and the governments of most large nation-states are fundamentally bankrupt. In time, they will have to default on their obligations. While there will be some overt defaults, I expect most of them to follow the path of least resistance, which is to try to inflate the problem away. And that means QE3.

For now, however, the Fed will claim victory over the economic crisis and follow suit with many other central banks – switching to a less accommodative monetary policy.

http://www.lewrockwell.com/orig10/galland25.1.html

[Horn]

click the "M" for "Monthly" in the netdania chart- we're re-testing the lows of 11/09, but not yet first half of '08 when USD was bouncing around the upper 70.xx area.

Yeah, I remember that one's when Silver took a dump... :-X

[Libertarian_Guard]

That is ugly.

The DOW is up though on the bucky's movement. All is good.


Or so it may seem!

[Neuro]

click the "M" for "Monthly" in the netdania chart- we're re-testing the lows of 11/09, but not yet first half of '08 when USD was bouncing around the upper 70.xx area.

Yeah, I remember that one's when Silver took a dump... :-X
Good learning experience, I stayed bullish from 21 to 8.50 almost all the time, apart from the time it was freefalling through $15 down to 10 or so...

[JDRock]

I am soooooooooo glad that I got my Canadian dollars......another browny point for Ponce? ;D


you don't really think Canadian $$$ are any better than US FRN's
they're just another paper promise


if you don't hold it ( physical PM's ) you don't own it

aahaaa soo funny i snorted coffee all over haaa :ROFL:

[Neuro]

From what I read yesterday, the FED might have something up their sleeve.

L: David, in recent editorials you’ve warned of what could be an important shift in Fed policy – can you fill us in?

David: Sure. The purpose of The Casey Report is to keep subscribers well positioned in powerful, long-term trends – the kind of trend that will keep giving and giving. The trend in precious metals – gold and silver – which we’ve been heavily recommending for ten years is a good example. The overarching goal of The Casey Report is first and foremost to identify those critical larger trends and then closely monitor them until they play out – which is another way of saying that we aren’t big about market timing or jumping in and out of trades. I mention this to set the context for the coming shift in Fed policy.

L: And that context is?

David: That the shift, and it is imminent, will not change the larger trend, but it has the potential to be quite
disruptive over the short term.

L: Explain.

David: In terms of the larger trends, the fundamentals that have caused so much pain and economic woe over the last ten years or so remain intact. If anything, they’ve gotten worse. We’ve gotten currency debasement, not just in the U.S., but especially in the U.S. dollar, which is not just any currency, but the world’s reserve currency.

We’ve got a truly mind-boggling expansion of the reach of government into all aspects of society and the economy, with all that that implies in terms of regulation, taxation, controls over investments and finance, impact on personal liberty, and so forth. By recognizing this destructive trend for what it is, investors can position themselves to avoid the worst, and to profit by betting on things like the continuing debasement of the dollar.

So that’s the big picture.

There is growing evidence that in the next month or two, we will head into a very dangerous period. The Fed has been extremely supportive of the U.S. government’s insane spending, polluting its own balance sheet by buying up toxic loans by the hundreds of billions and by pumping enormous quantities of cash into the money supply.

You don’t have to look very hard to understand why we have seen some small recovery in the economy, much of which has been driven by the financial sector that has been the recipient of so much largess – it was bought and paid for by the government, working hand in glove with the Fed.

But there is about to be a fundamental change in this arrangement. It appears that the Fed has decided that it’s time to take a step back from its monetization – or quantitative easing (QE), as they now term it – in the hopes that the market will step in to fill the large gap it will leave.

They can’t know how that’s going to work out, but if they don’t stop pumping money into the economy, they never will know if the quantitative easing has worked.

Based on a lot of statements from a number of the voting members of the Federal Open Market Committee, the change just ahead is that they are serious about stopping QE in June.

As they won’t wait until the last minute to confirm the end of their Treasury buying, I would expect their intentions to be made clear following their end-of-April meeting, the full minutes of which should be released in early May.

L: To be clear, do you mean no QE3, or that they cancel the portion of QE2 they haven’t spent yet?

David: They may leave themselves a bit of wiggle room by holding back some of the funds slated to be spent as part of QE2, in the hopes of demonstrating a high level of confidence in their decision to stop the monetization.

That would also give them a bit of powder to use should the need suddenly arise, without exceeding the mandate of QE2. The important point is that I am increasingly sure they won’t just roll out QE3, and that will have consequences.

L: Are you saying, no QE3 at all?

David: No. I think there will be a QE3, but it won’t materialize until after a relatively lengthy period during which the Fed stands aside in order to give the market the opportunity to adapt and adjust to their exit from the Treasury auctions. In other words, once they stop, I wouldn’t anticipate them jumping right back in at the first sign of trouble – say, if the stock market crashes.

In time, however, as the ponderous problems weighing on the economy come back to the fore and return the economy to its knees, the Fed will be forced to reinstitute the monetization, though they will likely try to come up with a moniker other than quantitative easing to describe it.

L: You’re as cheerful as Doug. Why are you so sure there will be a QE3?

David: Because the problems that made the economy stumble in 2008 have not been solved. As I said before, most have gotten worse. Have the impossible levels of sovereign debt and trillions in unresolved bad mortgages embedded in the balance sheets of Fannie, Freddie, the Zombie Banks and even the Fed been resolved? Hardly.

Is there any real sign coming out of Washington that the deficits will be substantively tackled? You don’t have to be as active a skeptic as I to understand that the deepest spending cuts being discussed don’t even scratch the surface of the $1.5 to $2 trillion deficit. As for the $60 trillion or so in debt and unfunded obligations, forget about it.

The U.S. government and the governments of most large nation-states are fundamentally bankrupt. In time, they will have to default on their obligations. While there will be some overt defaults, I expect most of them to follow the path of least resistance, which is to try to inflate the problem away. And that means QE3.

For now, however, the Fed will claim victory over the economic crisis and follow suit with many other central banks – switching to a less accommodative monetary policy.
I believe this to be correct, I think the Fed and other central banks will turn off the money taps for a few months over the summer. The owner banks are well capitalized, they will go treasure hunting during the autumn, when everyone will scream for the QEIII injection!

[Book]

...massive flight into gold and silver and the platinum group metals...



Anybody notice that ALL the gold and silver dealers still demand DOLLARS for their stuff?

:dunno makes no sense

[keehah]

Anybody notice that ALL the gold and silver dealers still demand DOLLARS for their stuff?

They keep demanding more and more dollars for the same amount of stuff!
And recently still even more before they'll take American dollars.

As this continues, at some point the marginal value of extra dollars for those selling that stuff drops towards 0. ;D

[platinumdude]

USD 74.09 -0.25

[Son-of-Liberty]

...massive flight into gold and silver and the platinum group metals...



Anybody notice that ALL the gold and silver dealers still demand DOLLARS for their stuff?

:dunno makes no sense


Not sure if you are just playing devils advocate but the dealers are in the business of turning over inventory and making the spread. They make money regardless of market direction. If they just decided to hold their inventory and the market tanked they would be SOL.

Most of them likely have their own hoards of PM's though.

[PatColo]

DOH! (http://netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChartPopUp.aspx?symbol=!DXX|ms_dla&name=US%20Dollar%20Index) (74.10, another swan dive minutes ago)


eta:


USD 74.09 -0.25


you posted this ~2.5 hrs ago, I saw it then but my source(s) didn't agree, showed 74.35 area with low 74.2X, but I didn't post anything in objection at that time. Now seeing dive to 74.10 mins ago -- whahappened?! is netdania ~2.5 hrs delayed? What was your source?

eta again: I now notice netdania's graph says at the bottom 21:19:XX PDT, or 30 mins delayed, ?! Still not 2.5 hours. Netdania's other graphs are real time (the ones I look at anyways, find them under the "Instruments" drop down menu), so I'm just now noticing this USD Index is delayed, grrr! A lot of good that does... still, shows the big dive from ~74.36 to ~74.14 was at 21:00 PDT, 56 mins ago.

[platinumdude]

I go to kitco.com for the usd price. Currently showing

USD 74.12 -0.22

[PatColo]

I go to kitco.com for the usd price. Currently showing

USD 74.12 -0.22


thanks. I see at lease one problem now with netdania's USD graph (http://netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChartPopUp.aspx?symbol=!DXX|ms_dla&name=US%20Dollar%20Index): put it on 1 min price bars, and notice the time scaling on the bottom; they're missing a few hours, from 15:30 it jumps to 21:00 PDT, missing all the details of the waterfall in between. I'm thinking the 30 min delay might be temporary too? Or maybe the time stamp at bottom is wrong? currently indicates USD is 74.125.

Netdania's live silver chart (http://netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChartPopUp.aspx?symbol=XAGUSD|netdania_fxa&name=Silver,%20spot) shows none of these bad data anomalies. In fact I now see silver's launch above it's ~45.40 platform corresponded with the USD's latest swan dive.

[Bullion_Bob]

http://1.bp.blogspot.com/-hN5H2d8ATZM/Ta7dvbb7hdI/AAAAAAAAIVc/XvX1NTiLpY8/s1600/dollardown-goldup_dees.jpg

[Libertarian_Guard]

http://i52.tinypic.com/nvphqf.jpg

[Libertarian_Guard]

http://i52.tinypic.com/34ox2ki.png

[PatColo]

cutting new lows again according to netdania, 73.988 low touched just seconds ago, but time at bottom still indicates 30 mins ago; is it real or is it memorex? kitco says 73.91 now, lower than netdania claims the lowest, so I've gotta conclude that netdania USD chart is useless, apparently 30 mins delayed! But silver just spurted over 46 so that's cool. :)

[Son of Dave]

The real question is; what happens when QE2 officially stops? We're talking June here. Lets get a roll call on those SPY puts we've all been pining about.

QE3 and miss the major "Don't fight the fed moment?" Or wait for the markets to tank Ala 2008 style and back up the truck. Yeah. You know what I'm sayin.

[Neuro]

The real question is; what happens when QE2 officially stops? We're talking June here. Lets get a roll call on those SPY puts we've all been pining about.

QE3 and miss the major "Don't fight the fed moment?" Or wait for the markets to tank Ala 2008 style and back up the truck. Yeah. You know what I'm sayin.

I think we'll get the 2008 style tanking, I am underweight silver, and high cash, now I sold about 190 ounces of silver granule 3 hours ago, for USD, very happy about the price!

[1970 silver art]

The USD is now down to 73.78 according to the Kitco quote (delayed quote).

[Spectrism]

The real question is; what happens when QE2 officially stops? We're talking June here. Lets get a roll call on those SPY puts we've all been pining about.

QE3 and miss the major "Don't fight the fed moment?" Or wait for the markets to tank Ala 2008 style and back up the truck. Yeah. You know what I'm sayin.



I have already seen the front of it. My customers are paid by researchers. This industry has been federally funded for the last 2 years. NIH has been paying megabucks to researchers for all sorts of projects. You know what they make when government favors an industry? Bubbles.

Now my customers are being told to cut costs.... they see an end to the funding. They are marching into the future and there is no road there. In fact, it is looking like a cliff. They can't see the bottom.

[ShortJohnSilver]

According to the chart I have found, lowest in the last 5 years was March 31, 2008; low point of that day was 70.67 , close was 71.74.

A search for "usdx chart 5 year" will get you what you want...

[PatColo]

live USD:
http://www.weblinks247.com/indexes/idx24_usd_en_2.gif

USD, crude, w/30 min price bars,