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Friday, August 09, 2013

Dollar About To Break Down; Gold Take-Down to Get it Into Insiders' Hands?

http://www.kitco.com/ind/Conner/2013-08-08-Currency-Markets-The-Next-Crisis-Has-Begun.html

I've been warning for months and months that this was coming. Anyone with a modicum of common sense knew that printing trillions of dollars was going to eventually have consequences. There is no escaping the inevitable; if you aggressively debase your currency eventually you are going to have a currency crisis. The first one has now begun.
Over the next 3-4 months the dollar is going to test the lower trend line of the megaphone topping pattern and ultimately break through. When it does we are going to witness a spectacular collapse in the dollar, probably testing the 2011 bottom by the next intermediate cycle low due in November.

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