James Turk: QE3 Announcement to Send US Dollar into Oblilvion

July 5, 2011 By 3 Comments

James Turk today made a fairly simple call in our opinion- the official announcement of QE3 will send the dollar to new lows and gold to new all-time highs. 

Gee…this economics stuff is tough, right?
The little guy on the right holding the baseball bat can tell you where the US dollar is headed from here over the long term.
The fact of the matter is that QE3 has already begun, and QE will continue until the point where The Bernank precedes to his next step of gold revaluation, or the point when the US dollar collapses into hyperinflation.

QE to Infinity….AND BEYOND!!

I think the dollar chart basically confirms my point that quantitative easing will be started again soon.  Last week’s big jump in the major stock market indices is basically saying the same thing.  All we need now is an indication from policy makers that QE3 is imminent.  The effect this will have on gold and silver will be nothing short of spectacular given how sold out both of the metals have become during their correction over the past two months.


When they start QE3, the Us dollar index will plunge to new lows.  Gold will also be at a record high by then as well.Click here for more from James Turk:


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Comments

  1. Lonerangersilver says:
    July 6, 2011 at 1:45 AM

    What if the downfall of the dollar was planned that way by the powers that be.

  2. Anonymous says:
    July 6, 2011 at 5:31 AM

    Loneranger……that is lindsey william's call.

  3. Anonymous says:
    July 10, 2011 at 10:08 AM

    The Federal Reserve has been making money in the markets, to offset the bailouts since 2008. Bernanke will short the US$Index before the announcement. The Federal Reserve is the largest commercial trader of the US$Index.

    Evidence presently shows that the net Commercials in the CFTC COT report show that the net Commercials are indeed increasing their short positions. This has been occurring for the past several weeks. Thus Bernanke has already started to short the US$Index.

    Once the foreign buying subsides, the $US will fall. This weeks' COT report shows that this might be starting. Three weeks of increasing net Commercials should confirm the next downturn in the dollar.

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