Today the US dollar plunged yet again after Janet Yellen's testimony following Jackson hole.
In what was supposed to be a highly anticipated speech coming from Janet Yellen regarding monetary policy, well, we got basically nothing with regard to her stance on monetary policy moving forward and this hit the dollar hard.
The US dollar is in a downward spiral for as far as the eye can see. So in simple terms, again as I have been talking about for months, get away from the dollar, seek dollar alternatives, because in my opinion the Federal Reserve is stuck-and has no choice but to continue to punish the dollar for the foreseeable future.
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Gregory Mannarino @marketreport
Yep, the dollar hit it's low for the year and just like you said, there's no bottom in site. We all will start seeing the ramifications of this showing up in our every day lives as the prices increase in goods and services.
That's why I'm in mostly metals and crypto
One day they will let the metals run free.
On day, and that day will be soon, the manipulation won't work anymore.
I should be able to take the PM stocks to new 52 week lows starting sometime today. You going to be ready tooooo >>> "buy the pullback!" No wait, you will reply >>> "I only buy "physical."...not realizing that physical will only do what "paper" tells it to do. :-0
I hope your words are true and this day won't be too long in the future.
Janet Yellen's testimony anything new?
The USA Silver Eagle Dollar is safe.
Isn't that the same as all of Janet Yellen's speeches? A lot of words and little to no substance.
Same as all of Greg's speeches for sure, the new video he just posted I mean. :-) Lot's of the same rhetoric but now, since he doesn't even have enough "confidence" in his calls to post his trades any longer...what are you getting for $2 besides >>> Not much. :-) Well, definitely no "proof"that he is ripping anyone's face off like those who actually followed him into his trades (luckily, nobody stepped up) got their faces bloodied and scarred. Would anyone like to argue this point? I didn't think so. :-) You are welcome to chime in, Greg. Why exactly did you stop posting trades pray tell?
Greg you hit this one out of the park and we did upote and restten it too
Did he? Dollar ETF >>> UUP now trading at 24.05 so log in that numba and then let's see how right Greg was in a matter of 2 weeks.
Comments on the S&P500?
I just got back into a SPY long after generating a "close to" 200% one day gain on SPY 245 strike calls for today's expiry that I posted the trade "live!" (as I am the only one with the balls to post trades live) yesterday on my new UVXY options trade blog. This time I went with SPY 244.50 calls. Once UVXY breaks below 29.77 I would "suggest" you exit ANY long positions you are holding.
Thanks!! ^^
I hope you are not long any gold stocks either. "Look out belooooooow!" starting "maybe" today. I will post my personal GDX short and DUST long (and strong!) here at steemit when the Ty Ming is about as perfect as anyone here on planet errrph can possibly time it. :-)
seriously joe for every 1 100% gainer you get you have 3 100% losers. So really who gives a fark what you trade?
2 day event? LMFAO! 2015 2016 2017 maybe 2018????
yikes dollar getting killed
Those holding onto Paper and Digital fiat Dollars when the Switch is Flipped, will more than likely be able to redeem them for a penny per fiat dollar...
@pocketechange
Yellen's speech was a big nothing - burger. . . nothing new.
SO, the DOW shoots higher and the dollar down . . .
Let's see what ECB Pres Draghi says at 3pm. Another statement of nothing will send DOW back over 22K to the delight of mainstream media.
So happy to see you're sticking with Steemit. I know YouTube and Facebook have been not so great for you lately. I personally am about to ditch them soon too. Thanks for introducing me to Steemit, it's been amazing. Keep up the great work Greg!
If that is bad news
Where is Trump's policy lol
Trump got into office with a lot of talk. Now he knows the feeling of what its like to be a muppet with the hand of the deep state up his arse. He doesn't control jack shitt, just like his predecessors....all muppets/puppets
Trumpf is actually doing some good things that will prove beneficial during the coming GRRREAT deflationary spiral that will soon take over. The one thing he is doing wrong is cheerleading the stock market rally and fake jobs data. He put himself in a position to own the coming market crash. I'm wreckin Trumpf's "WooHooing" is in fact on the instruction of the Wall St infiltrated govmint shills though. He is in fact just a puppet. We will always be ruled by puppets until something historical happens. "If" the govmint shills in Congress come to you and tell you that they are once again going to bail out the banks whenst (not if) they are on teh brink of collapse and you don't aim for right betwixt the eyes...you "deserve" the future you gave yourself. I personally don't care what happens. I will benefit no matter what happens as I AM the markets. :-)
you are spot on Joe....and, 2018 will be a year fortunes will be made on the way down.
With trump as president and him getting in verbal fights with journalists and other countries I am more surprised that the dollar has not fallen more sharply.
Nice to see you again! I am trying to find a "notification" like in YouTube for your new post, but I can't find how...
$2? Whats the point? $2? Just give them away. Or, if these systems really work, then $1000 is better.
His systems don't work. I posted blogs tracking "actual" prices on most of the trades Greg was posting. He was trading at a 70%+ losing rate. The last trade he posted (a long in GOOGL) was in fact a sheeeer fabrication as no options were purchased at all in the strike or expiry he chose during the entire day that he posted the trade. For $2 you get something to wipe your ass with basically.
As I always say us dollar will lose its value.
Very informative post about U.S Dollars . Nice to see you again. thanks for sharing..
Banksters/ gangsters not letting metals break free from $1300 level yet, epic manipulation...
And Bitcoin is up. Guess the manipulation of GOLD is well know by now; so people look for yield even in crypto.
Thanks for sharing your insights Greg!
Stocks seems to be making a negative month for august. Prepares for real crash in autumn. I think dow will go to 20000 again soon. Hover there (MSM will trick people to buy the dip) and then it will go way down when reality about the debt sets in.
thanks
We see the spiral, It's on a crash
Hey my friend, get out of the cash
Old Janet is Yellin but no one can hear
The dollar is diving down I fear
This Jackson hole will make you poor
Get out of cash as I said before
The dollar's been hit and so will you
Get out of cash is the thing to do
the crypto is good, the metals shine
Get out of cash and you'll be fine
Great post Greg!!
I do agree that the dollar is at support, e.g. UUP $24 is support and if it falls through and closes below $24, it has a ways to fall, but if this support holds, it will climb for a bit and the euro will fall. There is a battle going on right now :)
I do agree that long term, the dollar is toast, but I wouldn't short it just yet.
LOL
The mess in Washington adds up for punishing the USD too
and economic (strong) data are deteriorating as well
Damn hurricane about to crap all over me. I'll worry about the dollar when I come out the other side. Batten down the hatches cap't
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thank you for good advice
upvote
Greg,
I will follow you till the end of the world :P