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Venezuelans Abandon Bolivar – Merchants Insist On Being Paid In Dollars

Venezuelans are struggling to carry out basic transactions like purchasing food as the value of their currency, the bolivar, has plunged against the dollar amid the country’s worsening economic collapse. According to Reuters, over the past year, Venezuela’s currency weakened 97.5% against the greenback: Put another way, $1,000 of local currency purchased in early January […]

Venezuela’s Maduro Flunks His Economic Literacy Test

During my testimony in April, 2017 before the U.S. House of Representatives Committee on Foreign Affairs, I stressed that, to establish stability and turn Venezuela’s economy around, runaway inflation must be stopped in its tracks. After all, stability might not be everything, but everything is nothing without stability. Since then, Venezuela’s inflation has skyrocketed to new […]

The Demise Of The Dollar? Smith Warns “Don’t Hold Your Breath”

Authored by Charles Hugh Smith via OfTwoMinds blog, So let's look at currency flows, reserves and debt. The demise of the U.S. dollar has been a staple of the financial media for decades. The latest buzzword making the rounds is de-dollarization, which describes the move away from USD in global payments. De-dollarization is often equated […]

Offshore Yuan Tumbles To 2-Week Lows, Biggest Drop Since Election

Offshore yuan has now dropped almost 16 handles in the last 8 days since Chinese officials voiced their concerns "about a rallying yuan as exporters come under strain." Tonight's tumble pushes the Yuan to its lowest since August for the biggest 8-day drop since the election…   And offers Trump some excuses to be mad […]

China Battles “Impossible Trinity”

Authored by James Rickards via Daily Reckoning blog, Just because something is inevitable does not mean it cannot be postponed. The popular name for this is “kicking the can down the road,” which is a perfectly good description. I prefer more technical terms such as dynamic systems in “subcritical” and “supercritical” state space, but it […]

The Single Most Important Chart in the World is Breaking Down

While everyone continues to focus on stocks, a much larger, far more important situation is brewing in the single most important asset class in the world. That situation involves the US Dollar ($USD). While CNBC and the financial media love to talk about stocks, the reality is that stocks are actually one of the smallest […]