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US Dollar on Track for Sharpest Monthly Decline in 10 Years

serfserf Member Posts: 9,217 ✭✭✭✭
edited July 2020 in Politics
The Federal Reserve joined at the hip with The U.S. Congress along with The Wuhan Virus is destroying the value of the dollar. More stimulus and welfare is not going to fix the problem either. The Fed has run out it's course as a fallacy of Keynesian money theory with unlimited Fractional Central Bank lending.
                                               serf
            https://www.fxleaders.com/news/2020/07/31/us-dollar-on-track-for-sharpest-monthly-decline-in-10-years/

Even as the coronavirus pandemic rages on across the world, the US dollar is expected to experience the steepest monthly fall seen in a decade during the month of July. Fears of a second wave of coronavirus further delaying any hopes of recovery in the US economy are weighing on the greenback and driving weakness in the currency that had previously gained as a safe haven currency during the initial weeks after the coronavirus spread.

The dollar has come under pressure lately after Fed chairman Jerome Powell highlighted that coronavirus cases rose in the US during mid-June, weakening consumer consumption further and adding more strain on the economy. Other Fed officials have also cautioned that any recovery in the US economy can only begin once the pandemic is brought under control.

President Donald Trump’s latest comments about possibly delaying the upcoming presidential elections beyond November have also heightened uncertainty in markets and sent the US dollar lower against other major currencies. On the other hand, the Euro received support and made gains against the dollar after EU leaders came to a consensus about the 750 billion euro economic recovery fund, raising optimism about stabilizing Eurozone economies.



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Comments

  • serfserf Member Posts: 9,217 ✭✭✭✭
    us55840 said:
    Gee ......... it wasn't a problem when Obama spent more in two terms than all the previous presidents COMBINED!
    And he didn't have a pandemic or other huge crisis to deal with.

       The next President will be hand strung to nithth degree along with Congress to explain why the Republic failed with/by delegating the making of money to The  Federal Reserve. Who is going to pay off the debt other than A.I. Factories with
      Socialism with free money for all?
                                                                           serf

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  • chiefrchiefr Member Posts: 14,083 ✭✭✭✭
    us55840 said:
    Gee ......... it wasn't a problem when Obama spent more in two terms than all the previous presidents COMBINED!
    And he didn't have a pandemic or other huge crisis to deal with.

    Its OK, Obama was a DEMOCRAT
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  • MrMag00MrMag00 Member Posts: 532 ✭✭✭
    Who would have thought that 3 trillion bailout of fake money would have an effect on the dollar.  Nobody could have possibly seen this coming. It has never happened before, you know, print more money to pay off your debt. 
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  • serfserf Member Posts: 9,217 ✭✭✭✭
    edited August 2020
    Congress is at it again, gosh what did they do in The 1918 Flu pandemic? Of course gold was in circulation, so I guess it stabilized all by itself. No bailouts for corporations ,no free rent or mortgage subsidies certainly no free cash of 1200 for each taxpayer. Now another 2-3 trillion won't matter much here in August, will it?
       Negative interest rates and new cryptocurrency maybe along with cuts in social security and Medicare while handing out 600 dollars a week again to the unemployed that will help people who can still work (HAhahahaha!) In The future A.I. factories sweeping floors! B) Ain't nobody going to have a job to make purchases with small business either.
                                                    serf
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