In what seems like an unstoppable event, the US dollar continues to lose value. (The US dollar is down again in early trade).
As I have been saying for months, the US dollars downward spiral will continue with no end in sight as the Federal Reserve strives to hit their inflation target.
Although the weaker dollar is stock market supportive, the fact that the dollar is losing so much of its purchasing power has the potential to pinch the consumer as now consumers will need more of these weaker dollars to buy everything.
In my opinion it is just a matter of time before the weak dollar starts to hurt consumers, as they watch their purchasing power whittle away. Moreover, because consumer spending is about 70% of the US economy, the weak dollar has the potential to hurt GDP moving forward.
Gregory Mannarino @marketreport
Somebody's getting ready for a big reset , this can't go on forever, cheers mike
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Thank You Greg I really appreciate all of your insight on the markets. There is never a BAD TIME to Buy Physical Silver..............................Up Voted.
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Yup...You are so right. Use the time wisely and buy now.
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it's a steal right now
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Is it? Then what was silver 3 weeks ago...when nobody was saying a word about buying because everyone was waiting for more "direction" or they were all just plain too skeeerd to buy at SLV 14.50 or less. Now that SLV is about to push thru $16 though (taking "physical" silver with it)...it's now painfully "obvious" how cheap it is...right? Ever wonder why the "ave Joe" gets his ass kicked trading silver? Are you the "ave Joe"...now proclaiming that silver is cheap?...or is there truly only one Joe...JUST Joe! :-) I dare you to buy silver whenst I announce my next "add to" in my silver short at my blog. Go ahead...be a hero. :-)
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Accumulate not go all in!
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You won't hear any "all in" calls anytime soon. "All out!" is MUCH more likely. And wait'll you see what the locals are spewing "by the minute" about Bitcoin and the rest of that "fantasy" world soon. Atleast you have "diversified" your future "submersification." Oooh! Gotta copyright the word submersify (Copyright: JoeJustJoe, 7/31/17) :-)
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A weaker dollar, stagnant wages and unemployment actually closer to 20% does not bode well. Our dreaded house guest stagflation looks more and more like he's coming for a visit.
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I really thought it would bounce before further downside, but it hasn't yet. I agree, consumers will start to feel the lack of purchasing power soon
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Not with me on the job. Not only will the dollar become king again soon, but you will be paying less than 1.50/gal for gasoline if you live anywhere but the state of California. People from Cali are "required" to pay a premium for EVERYTHING that the rest of the country does not have to pay. It's written in the state of Cali's govmint charter. Don't quote me on that though. Personally I think you get stupid the second you cross the Cali state line. :-)
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Possibly, but I was expecting a rally in commodities first. We will see
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Huh? Even physical silver has run almost 10% in 3 weeks. What do you consider a rally? And how much are you earning on your passbook savings account at the bank if 10% in one month wasn't good enough for you to even consider it a rally in silver? :-)
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I've been expecting gold to move up to around 1550 soon to complete it's current Eliot Wave structure. Although, it could make another move down below 1200 first. And the dollar and gold could rise together.. I expect silver to move the same direction as gold. So silver over $20..I'm talking in a 6 month time period though, I'm not as good when it comes to short term movements
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Good luck with that. In the meantime I can start a ledger for anyone else here at Greg's place who is waiting for silver $20+ and gold $1550+. Simply log in your name and next of kin you would like me to contact (with contact info) in case the next drop makes you go splat!! :O
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Haha you could be right, but it's a win win for us gold bugs. we would get to buy physical metals for cheap if that happens
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You forgot to ad >>> "...and besides, who cares about the time value of money when Argamegdon is almost upon us anyway? Sure, I could have used the 50% I lost in dollars by holding gold and silver to buy Weight Watcher's (WTW) menu items at a drastic discount now that JoeJustJoe is working on Oprah via the Oprah diet. But do I look like I have to lose weight?" :-) Oh, gotta go, Tessie is approaching an impotent weight loss goal now that I have her back on my Tessie diet. If I don't watch her she will jump right thru the internet and chew Greg's face off! What would you guys n gals do then? :-)
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Thank you Greg; your updates are always appreciated!
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In Canada inflation for things we need are up %30. Of course they are 2 steps behind trying to match a sinking US dollar.
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Inflation!! Citizens be damned!
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It is a race to the bottom. Who can devalue their currency the fastest. That is why I am a crypto metal head.
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Thanks Greg. So even if some OPEC member don't cut supply or out right dump, crude will still go up as a result of the dollar slide? Is there a point where there is just too much supply that crude goes down?
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But...but...but...Greg. I just told you I bought the dollar this morning. Oh ye of little faith! :-)
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The party is almost over and the race to the bottom is fast motion. Our paper money will be fashionable as wall paper for a while. All in time for the master plan of the great reset to steel our money. Stock up now while you can. Go estate saling and garage saling. Buy silver. WAKE UP FOLKS!!!!! SMELL THE DECEPTION WHILE YOU STILL CAN! PROTECT YOURSELF!!!!!! Thanks Greg!
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The party is almost o
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Dude, You truly are a man of the people. You are here to help us understand what is going on and also helping us with trades. I appreciate this so much. I am glad I found you on YouTube last year and started to follow you there. Then I was convinced after some time to come here to Steemit. Great choice by far.
I really am glad that I followed you and started getting out of the Dollar and being my own Central Bank. This has been important since you and many others have awaken me to what really is going on in this economy and this world.
Thanks
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by by dollar
thanks greg
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This whole economy is going to implode and that Dollar seems to be the catalyst as they contuine to devalue that Dollar.
I am not real sure what the outcome will be, but that Dollar is already starting to hurt us. This is why I have moved more and more into Cryptos (multiple) to help protect some of my capital.
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Upvoted, ReSteemed and of course I already Follow you.
You info is always great and I always look forward to your videos. You are so right with this Dollar. She is so weak and only getting weaker. Yet Gold and Silver are still surpressed. I hate this game. I am so ready for a new system.
Thanks for the post.
I am watching the Dollar with a passion!
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The Dollar is in complete collapse like you are saying. This thing is way done. Put a fork in her, she may be heading to the bottom and taking this economy with it.
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Jim Rogers seems to think the old school, the dollar will be a temporary safe haven. I think the writing is on the wall. The dollar will soon be dead and the world will continue without us. The US needs to collapse so the fiat currency fueled genocides can stop.
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Inflation...Inflation...Inflation!!!
But I am sure there will be Deflation too cause as people spend less and less, certain things will become cheaper. Velocity of Money I hear is weaker then during the Great Depression. We need to change this system now!
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Good post and insight. The dollars purchasing power may... just may open peoples minds a bit here in the U.S. even though it seems nothin' at this point does? I suppose when they're in debt every month just to get to work and buy the basics they may start to wake........... wait....... for most....... it's that way already. Strange.
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I think next month USD will be in a continous rise
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Why?
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The jwolf of Wall St has spoken, Greg. That's good enuff for me... so I won't even ask why? :-)
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lol man
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I'm with you on the dollar Mr Wolf...sir. Soon you and I will take our dollars and begin buying up America! Oh, in the meantime. please follow me and my protege @alexmiller as we are together working to make America great again by saving retailer JCPenny Co from a bankruptcy filing. I'll be doing most of the heavy lifting. But Alex should have some surprise sale announcements. Bitcoin and crypto HODLers should all follow this blog as I believe there is going to be a sale on underwear soon. And if you are HODLing bitcoin and especially trading it...you will be needing plenty of clean underwear soon. Stock up when prices are low! :-)
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you are so crazy man!
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Crazy like a fox! The fox and the wolf! Could be a HUGE best seller! :O
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unfortunately I have already a fox :p
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that's happening every year in July, after 10th August I think will grow again
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That's "The $64,000 Question" - or whatever the 2017 Dollar equivalent is in 1950's Dollars.
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Why dead cat bounce?
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I think what you said is right on and do not understand why the FED can not see this.
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I agree with you 100%. We need to capitalize against both USD and the markets!
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Thank you @marketreport!
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Thanks for the update mate!
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So true Greg. It's crazy that the dollar continues to fall but I guess that's because the central bank wants it to fall. Because if they didn't it would not happen. Excellent post!
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Thank you Greg
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thanks gregory bro for sharing such a nice and informative post...keep posting and thanks for update
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where will it end huh?
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The weak dollar already hurts THIS consumers purchasing power.
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Thank you, again, Gregory. Heading up to coin shop to see what kind of deal is available today.
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I think the weak dollar is hurting the consumer even now. More later.
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amazing dear
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thank you for sharing
upvote
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Hey Greg. Do you have a recommended online physical bullion dealer? I've been using SDbullion - great prices and customer service.
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This post has been ranked within the top 10 most undervalued posts in the second half of Jul 31. We estimate that this post is undervalued by $24.91 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jul 31 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
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It is unfortunate that the weak dollar also has a nationwide effect since as you said new consumers will have to buy more of these weak dollars.
Thanks for the update @marketreport
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