This will create major financial shockwaves across the globe.
July 9 (King World News) – Eric King: “Alasdair, as you know King World News put out a chart of the US Dollar Index this week. I don’t think it’s something anybody is really looking at. It was a long-term look at the US dollar and I was pointing out that the US Dollar Index was trading at around 105 but the upside breakout was very real. It even closed on a monthly basis (above the breakout point). The lower lows and the lower highs have been wiped out now and the target for the US Dollar Index is 120. I don’t think many people have looked at or even understand the significance of that (upside breakout). I know that chart was very interesting to you [KWN chart is shown below].”
US DOLLAR INDEX MAY CONTINUE TO SURPRISE:
Next Target For US Dollar Index After
Major Upside Breakout Is 120!
(Currently Trading At 105)
This Will Create Financial Shockwaves Across The Globe
Alasdair Macleod: “It is very, very interesting. And looking at this (US dollar) breakout it tells me one thing and that is that we are heading into, and this is pretty immediate, a major currency crisis. If you are right and we are looking at this breakout maybe taking the US Dollar Index up to maybe 115-120, then the euro is toast, the yen is toast, sterling is toast. And these are the three other major currencies.
But I’ve also been looking at the changing of bank deposits in America, trying to get a handle on bank credit policy. What’s happened is the trend for increasing deposits has now turned down, which if you work through the bank balance sheets means that bank credit is contracting. And it is contracting at a faster rate than we saw back in 2008 following the Lehman crisis. So this is a very serious situation.
So we have systemic risk escalating very, very rapidly, and we have central banks which are basically bust. We’ve even seen with the Fed, at the beginning of May, that they had notional losses on all of their holdings of about $320 billion and they’ve only got capital of about $50 billion. So the Fed is technically bust…to continue listening to Alasdair Macleod discuss why the coming crisis will be far worse than anything seen in 2008 global collapse CLICK HERE OR ON THE IMAGE BELOW.
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