No man’s land is a lonely place. The US Dollar is there and has been there for a while now. It is a subject that has been covered religiously on this blog for two years . It has been one of the best trends and significant trends in the global markets. Here is one of my faves from way back in March 2006 .
Billions, likely trillions of profits are being made and lost.
You can slap all the fundamental and technical analysis on this trend that you want, but it’s quite simple. If you print ANYTHING non-stop, it loses value. Dollars, Lithographs, Rocky movies…
Lindsay learned today that you can’t give US Dollars away, even on New York subways . That shocked even me.
Back just in July I tried to exchange a Canadian $20 to get uptown to a meeting. No dice. Today that dollar is worth 2 cents more than a US Dollar, which is a gigantic 7 percent move in the exchange. Here is the Canadian/US dollar chart and ETF (symbol-FXC).
Here’s the drama as it unfolded:
That raspberry salesman made out like a seasoned currency trader :) .
Disclosure – Long Canada :) .