Monday, April 11, 2016

Foreign countries possibly losing respect for the US Dollar

What we're seeing is a lesser respect for the U.S. dollar, and a greater use of other currencies to buy commodities. This all began because of a loss of confidence in the U.S. to begin with. We are less strong than we used to be, and we're perceived to be weakening. 

We might be seeing more pricing of crude oil in Asia in renminbi terms. We may be seeing greater pricing of grains in Europe in euro terms. We may be seeing a greater pricing of base metals in yen terms in Asia. I think that's really what's happening here.