James Turk BlogJames Turk BlogJames Turk BlogJames Turk Blog
  • Blog
  • About
    • About FGMR
    • James Turk
    • GoldMoney
  • Books
    • Money and Liberty
    • The Money Bubble
    • The Collapse of the Dollar
Next Previous

Currencies

James Turk 9 September, 2009

September 9, 2009 – September has so far been a bad month for the US dollar.  From its close on September 1st, the US Dollar Index has declined 2.1%.  The following chart is looking increasingly bearish.

The Dollar Index is now at its lowest level this year.  Today’s close is the lowest since last September, when the collapse of Lehman Brothers triggered a massive de-leveraging and a mini-flight into dollars.  That scramble for dollars ended early this year when the short-term uptrend line on the above chart was decisively broken.

Importantly, the Dollar Index is now below 80 once again, the previous record low until two years ago.  It therefore suggests that the temporary retracement back above 80 last year was a false rally, given that it was not sustained.

There is one last point I would like to make about the above chart.  The downside momentum in the Dollar Index is building, which suggests that before the end of this year, the Dollar Index could reach its all-time low of 71.33 (set April 22, 2008).

ABOUT

FGMR My objective is to share with you my views on gold, which in recent decades has become one of the world’s most misunderstood asset classes. This low level of knowledge about gold creates a wonderful opportunity and competitive edge to everyone who truly understands gold and money.

RECENT POSTS

  • The Forgotten Fourth Function of Money & G-SIBs

    Money is routinely defined by what it does, rather than what it

    13 December, 2022
  • A Century of Fascism

    In 1922 Benito Mussolini became prime minister of Italy, putting that country

    31 August, 2022

TAGS

bitcoin bonds central banks currencies debt dollar doug casey ecb economy euro fed gold greece hyperinflation inflation markets mining stocks MMGA money oil Politics QE recommended silver stock market trading Trump usd us dollar Washington
Copyright © 2001-2022 Free Gold Money Report | All Rights Reserved
  • FGMR
  • GoldMoney
  • James Turk
  • Money and Liberty
  • The Collapse of the Dollar
James Turk Blog