For the first time the position of the dollar as world reserve currency in the United States has come under criticism by Obama’s former chief economist, Jared Bernstein (2009-2011). Bernstein argues that the accumulation of dollar reserves abroad make the US currency too strong. This destroys jobs in the United States and weakens the economy. Retaining […]

Prosecutors are simply lawyers gone really bad and enjoy their power without comprehending the full depth of their actions. The sanctions against Standard Chartered are insane and this will drive more and more banks away from using the dollar in international transactions. It is the prosecutors who are setting the stage for the new one-world reserves […]

The recent attempts by the USA to impose huge fines on foreign banks for violating US sanctions with Iran based solely on transactions in dollars is having the same impact as FATCA. The US Justice banking penalties are becoming a threat to the dollar being used in such transactions. While this is unlikely to cause […]

There has been a prevailing piece of propaganda used by the dollar-haters to support this idea that the dollar is really the Petrodollar and that the move in the Middle East to create a single currency like the Euro and the Russia-China energy deal will make the yuan soar and the dollar collapse are just […]

QUESTION: All over the web there are these doom and gloom that the dollar will collapse because of Obama’s new law July 1st. This seems like more fraud to sell gold that has become the greatest hedge against making money from my perspective. Any comments? Here is a direct quote: “On this date, U.S. House […]

One of the most difficult concepts for people to grasp is the fact that a currency is the OPPOSITE of assets. When assets rise, like gold and stocks, this means that the currency MUST decline in purchasing power. This is the standard function of a currency regardless of what it might be. This is why […]

Chinese holdings of US Treasurys declined in December by a modest $48 billion. China’s holdings of dollars dropped from $1316.7 billion to $1268.9 billion. The US Treasury holdings by foreign entities increased in December, from $5716.9 billion to $5794.9 billion. This is still showing the rising trend on a global basis for the dollar. The US […]

 QUESTION: Mr. Armstrong; I read somewhere that neither gold nor silver were the actual unit of account in Rome. Is that true? And what did that mean? Thank you J ANSWER: The “unit of account” in Rome began as bronze. The earliest money was just lumps of bronze that has practical value for it could […]

QUESTION: Mr. Armstrong; I understand you will be speaking in Vancouver tonight. Given the size of the audience, could you at least answer one question about the currency. You said the dollar would decline following gold’s lead. It is true that the currency has declined by more than 10%, but it did not make a […]

The dollar haters remain fixated on supply is supposed to determine value with a very myopic view that never considers DEMAND. They simply cannot understand why the dollar has not collapsed and in turn cling to some wild all-powerful conspiracy behind the strength of the dollar. I have stated countless times, the money center banks […]