COMMENT: Mr. Armstrong, I read Reuters comments this morning and they said “The dollar sank to a three-year low … the greenback down more than 10% for the year. If it stays that way in the coming days it will be its biggest first half of a year fall since the early 1970s – effectively the era of free-floating currencies.”
The exaggeration and bias in the financial news have become outrageous. I have been in this field for 30 years. Never have I found the press so dishonest and politically driven. They are trying to create the collapse of the dollar to overthrow Trump. This is like the polls. They lie about everything.
REPLY: I fully agree. It makes me want to quit and hide under the covers, for they are deliberately distorting the world, and everything they do is to push us into war. I am so sick of the exaggerations and lies, as they do not care about the people, the country, or our future. NOTHING – just the moment and how to win at all costs.
Here is our Dollar Index back to 1902. It allows you to see the real trend and put it all in perspective. Below is the US Dollar Index, which began in 1988. It omitted the dollar high in 1985, no less than the dollar decline into 1976.
Here is CNN faking the news, standing in the deepest puddle he can find, while the film crew is only ankle deep. Everything is always the worst they can possibly project. The trash the dollar because Trump wants to replace Powell with someone who will lower interest rates. Sorry, Trump is a biased borrower, not a lender. So he looks at everything from only one side of the table. Europe entered negative interest rates in 2014, stripping pension funds and bank reserves. Lower rates harm savers for the benefit of borrowers. This is always a one-sided view that never makes sense.
So let me see. Interest rates rise in bull markets and always decline in bear markets. However, the press has somehow sold the idea that lowering rates is bullish for the stock market. It is all based on Keynesian Economics, which was based on Government Intervention following Karl Marx. This presumption that the government is capable of managing the economy under socialism is merely presumptuous. Why worry. The socialists will take everything, we will own nothing, and be so excited, happy, and thankful, for in their book, we are too STUPID to understand anything anyhow.
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Author: Martin Armstrong
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