Today Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, spoke with King World News about the violent trading in global currency markets, stock markets as well as gold and silver. And if you are worried about the price action in gold and silver just read this…

Chaos In Global Markets
Eric King:  “Michael, it’s such a great time to bring you on the air here at King World News because there is all of this chaos happening in global markets, particularly the currency markets. The US dollar was up almost 2% on Friday. The pound fell almost 3.5% against the dollar — that’s not how (first world) currencies normally trade. You and I had discussed the chart King World News published July 5th issuing a 120 target for the US Dollar Index when it was trading at 105 (see below).

CHART BELOW PUBLISHED ON KING WORLD NEWS JULY 5TH:
US DOLLAR INDEX MAY CONTINUE TO SURPRISE:
Next Target For US Dollar Index After
Major Upside Breakout Is 120!
(Currently Trading At 105)

Eric King continues:  “We’ve already seen this move up to 113 (on the US Dollar Index). It’s been very orderly so far. But now I’m saying that if it continues to surge without consolidating then something is really, really wrong and that would suggest a violent move that could put the US Dollar Index at the 120 level quickly.

UPDATED US DOLLAR CHART TODAY:
US DOLLAR INDEX MAY CONTINUE TO SURPRISE:
Next Target For US Dollar Index After
Major Upside Breakout Is 120!
(Currently Trading At 113)

Eric King continues:  “And I told you before we kicked this off that I am very uncomfortable being a US dollar bull. But I also know that for the gold bulls they are worried because they are looking at that US dollar target and wondering what does that mean for the price of gold or silver?

Here is what people need to step back and understand: gold is in a bull market vs all of these fiat currencies. They’re all trash! All of them! The US dollar happens to be in a unique position at this moment in history where it’s rising against the yen, the pound, and the euro. There is a catastrophic electricity crisis in Europe, the yen is having its own problems and the British pound is collapsing. So yes, the dollar can go higher but they’re all garbage fiat currencies.

If you own gold, relax and sit back because gold has gone from $250 an ounce to $1,650 today because it’s in a bull market vs all fiat currencies, including the US dollar. We will also talk about what’s happening with the Dow, the S&P, and the NASDAQ, but let’s start off with the dollar and gold.”

Michael Oliver, founder of MSA Research:  “I don’t trust the dollar. This is very much of an orgy on the upside…to continue listening to Michael Oliver discuss what to expect for gold, silver, the US dollar, mining stocks, the Dow, S&P, NASDAQ and more CLICK HERE OR ON THE IMAGE BELOW.

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