There might be some truth behind this. One day the cost to print a dollar bill will be higher than the dollar itself.
Or in Gerald Celente's wording:
"The U.S. Dollar Isn't Worth The Paper It's Printed on".
Showing posts with label dollar. Show all posts
Showing posts with label dollar. Show all posts
Monday, 24 June 2013
Sunday, 1 July 2012
The new numbers of the Currency Composition of Official Foreign Exchange Reserves (COFER) have been released and it shows that the the world has stopped selling euros (Table 1). Claims in euros have increased from $US 1.413 trillion to $US 1.423 trillion, an increase of 0.7%. Claims in U.S. dollars have increased from $US 3.513 trillion to $US 3.548 trillion, an increase of 1%. Interestingly, the increase in U.S. dollar claims is flattening out as compared to previous quarters, indicating U.S. dollar weakness.
In the previous three quarters, the claims in euros had been going down ($US 1.472 in Q2 2011 to $US 1.438 in Q3 2011 to $US 1.413 in Q4 2011). But that decline has stopped for now. I believe this reversal means that it's time to start buying into the euro again in the short term.
In the previous three quarters, the claims in euros had been going down ($US 1.472 in Q2 2011 to $US 1.438 in Q3 2011 to $US 1.413 in Q4 2011). But that decline has stopped for now. I believe this reversal means that it's time to start buying into the euro again in the short term.
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| Table 1: Currency Composition of FOREX Reserves |
To read the full analysis, go HERE.
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