Summary
“The safe haven properties of the dollar are being eroded,” said Deutsch Bank in a note to clients warning of a “confidence crisis.”
Since mid-January, the dollar has fallen 9% against a basket of currencies, a rare and steep decline.
“It is no longer hyperbole to say that the dollar’s reserve status and broader dominant role is at least somewhat in question.”
“Global trust and reliance on the dollar was built up over a half century or more,” says economist Barry Eichengreen. “But it can be lost in the blink of an eye.”
What? You mean investors might be wary of placing trust in the value of the dollar under the administration of a vindictive childish, capricious, narcissistic moron who’s surrounded himself with grotesquely unqualified sycophants?
Who would’ve guessed?
A sure sign that the US is going down the shitter is investors selling off US treasury bonds. That’s normally unheard of.
It probably didn’t help that Trump said foreign owned bonds were invalid and fraudulent.
I always wonder why these headlines and articles are phrased like these are only possibilities. It’s plainly obvious what is happening and why.
Protection from libel
Between the market and US Dollar devaluations, it’s only going to get harder to leave the US.
So, they’re joining the rest of us? About time.
Sure, blame it all on Trump. Because this hasn’t already been happening for the past. Like, 20 years. More slowly.
