SD Friday Wrap: The dollar didn’t receive a lot of coverage this week, but that may be about to change, and catch people off guard. Here’s why…
There hasn’t been much US dollar talk this week.
That’s not to say there was no US dollar talk at all, you just had to look for it:
For some reason, however, the Deep State Globalists do not want this information getting out at all:
Also concerning, October 1st was the last time President Trump Tweeted anything strong/weak dollar related:
As I predicted, Jay Powell and the Federal Reserve have allowed the Dollar to get so strong, especially relative to ALL other currencies, that our manufacturers are being negatively affected. Fed Rate too high. They are their own worst enemies, they don’t have a clue. Pathetic!
— Donald J. Trump (@realDonaldTrump) October 1, 2019
There are so many problems with what Trump said in that one Tweet, including many outright lies to the American public, but my point is this: Why has President Trump fallen silent on the strength (or weakness) of the dollar since the beginning of October?
That said, check out the US dollar index:
Sure, it’s not huge move percentage wise, but it is significant, and the move is surely toying with the minds of all the Dollar Bulls and Dollar Shortage Salesmen.
Which brings me to my main point of today’s article, and I’ll ask it as a question: Does anybody else have the sense that we’re close to something major happening in the markets or the economy in general, and to the US dollar specifically?
I think we are very close to some sort of US dollar shock, possibly along the lines of a devaluation, but even if something shocking isn’t imminent, the action in the US dollar index could have just signaled the short-term bottom is in for gold & silver.
I have been expressing concern for further downside in silver by means of the gold-to-silver ratio:
I was looking for another move to 90, but it does look like we’re set to rollover, and I think for reasons that gold will be moving up in price, and silver will be moving up even faster.
Gold is under $1500 on Friday afternoon:
If the bottom is in, then we have already carved-out the all important higher-low!
If the bottom is in, silver has carved-out that all important higher-low as well:
Regardless, $17.50 is proving to be some pretty solid support.
Palladium looks ready to consolidate those record-high gains:
Palladium bulls should find comfort in the fact that the 50-day moving average is at a price where there should be big-time, major support.
If the bottom is in, platinum’s 50-day should offer little resistance:
I’d be looking for a quick run to $940 or $960 before running into problems.
Crude oil is finishing out the week in the lower end of its allowable range:
The longer crude oil stays near the middle, and especially if crude oil moves to the channel’s upper resistance of $57.50, the less likely it is we get to that sub-$40 price.
Copper fell mid-week, but rallied back to “unchanged”:
Copper’s chart is looking more bullish by the day!
It seems as if the Dow is having a heck of a time holding on to 27,000:
The technicians out there will say we need to “fill the gap” from last friday, but we could fill it and then just keep on falling!
The VIX has been straddling 14 for most of the week:
The VIX looks like it wants to pivot here.
Yield on the 10-Year Note has kept everybody guessing all week long:
However, to keep the US dollar ponzi scheme going, it’s not a guess – yields must come down.
What’s the bottom line as we find ourselves here this beautiful Friday in mid-October?
There hasn’t been much said about the US dollar this week, but it’s now falling.
Is this a signal that gold and silver have found their short-term bottoms?
Well, if we’ve bottomed, it would no doubt catch people off-guard.
But I’m getting the feeling something bigger is in the works.
Something along the lines of a US dollar devaluation.
That would surely catch everybody off guard.
If it’s coming, it’ll happen on a weekend.
Bad things always happen then.
Of course, it’s not really bad.
If you are not in dollars.
If you are protected?
With some gold?
– Half Dollar
About the Author
U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.