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Mon Aug 3, 2020, 01:01 PM

Dollar Sends Warning That U.S. Is Losing Its Grip on the Virus

This discussion thread was locked as off-topic by applegrove (a host of the Latest Breaking News forum).

Source: Bloomberg

The dollar is flashing a warning sign to U.S. policy makers -- get a grip on the virus.
After hitting an all-time high in March, a gauge of the greenback lost 10% of its value, with declines accelerating in recent weeks as infections spread seemingly unchecked across the nation. Much of the sell-off has come during New York trading hours, suggesting domestic investors are closing out bets on U.S. strength and spurring renewed questions about the supremacy of the dollar. Meanwhile, a popular model thatís guided dollar traders for the past two decades has warped.

Read more: https://www.msn.com/en-us/finance/markets/dollar-e2-80-99s-slide-is-a-warning-that-us-has-lost-grip-on-virus/ar-BB17uloo



The other shoe is wobbly and wants to drop. With the debt pushing pass 25 Trillion and Trillions more that has to be spent soon because of the government bungling of the CV-19 crisis, if/when the day comes that the greenback is no longer the World's default Currency, that will make whatever disaster the country is going through now seem like cupcakes the day that happens. Biden has a Mt Kilimanjaro Crisis to face when he is elected.

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 01:05 PM

1. I could have told them that

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 01:11 PM

2. Well, duh, the economy caught the virus in March

...and ignoring it has worked about as well for the economy as it has for the population.

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 01:12 PM

3. It turns out printing dollars without raising taxes on the richest

to back them up is a bad idea, it causes the dollars to fall in international markets.

This only the beginning, everything this witless administration does is exactly the wrong thing.

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Response to Warpy (Reply #3)

Mon Aug 3, 2020, 01:23 PM

8. Yes we had to do it but

the day I realized all the money the Treasury had to print just to keep the country afloat thought to myself this part of the crisis is a slow burner and was hoping we don't get roasted.

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 01:13 PM

4. its so crazy people are paying $8 over spot for silver now, hyper inflation is a comin imho. nt

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 01:19 PM

5. And repugs will tell anyone who will listen that it's

"ALL BIDEN'S FAULT, WAAAAHHHHH!"

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 01:20 PM

6. I doubt we will see this causing many countries to shift to another form of general currency over

the US dollar for trading though it will happen eventually.

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Response to cstanleytech (Reply #6)

Mon Aug 3, 2020, 01:25 PM

11. That eventuality most thought would take

years and not months. Man I hope you're right.

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 01:20 PM

7. And the tariff war worked out soooo well.

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 01:23 PM

9. We'll need a Democratic Congress so Biden can do what needs to be done.

Biden will need to do an FDR.

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 01:24 PM

10. Where have we seen this show before? Democrats will fix everything and then......

Democrats will get the Covid pandemic and the coming financial crisis under control, with GOPers fighting us every step of the way. Soon thereafter, GOPers will regain control and kill every last gain that was made.

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 01:34 PM

12. Cheap dollars is one reason the stock market has risen so high. . . . nt

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 01:44 PM

13. I hate that I'm a pessimist, but

I don't see how we're not going to have worse than the Great Depression.

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Response to CrispyQ (Reply #13)

Mon Aug 3, 2020, 02:10 PM

14. As Biden said we need consensus

the country has to come together. We stay divided like this the catastrophe will just keep getting worse.

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 02:20 PM

15. "U.S. is losing its grip on the virus"

Jesus Christ! Understate much? Close up the barn the horses are fucking 3 states over.

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 02:27 PM

16. $USD is still strong against $CAD at this moment nt

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Response to Roc2020 (Original post)

Mon Aug 3, 2020, 02:37 PM

17. After discussion.... Locking

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