Global Markets A Sea Of Red As Dollar Selloff Resumes | Zero Hedge: All export markets targeted the USA for the last decade as ‘free trade’ liberals opened the barn doors. US jobs migrated away from our country and into other countries with cheaper labor. Now, that is reversing. This is causing panic across the planet. The old way of doing things is ending and ‘protectionism’ is rising. All systems go through these ‘revolutions’ because you can’t do anything, forever. Things have to balance out eventually or crash and burn.
The euro advanced alongside the yen, and the pound erased a drop. The yen advanced against all of its Group-of-10 peers as a stock selloff prompts risk aversion. Tokyo-based funds are selling the Aussie against the yen ahead of Trump’s speech Tuesday night, according to a trader who spoke to Bloomberg. “After last week’s large moves, currency markets are wary of this week’s upcoming events but also of the implications for higher yields,” said Mansoor Mohi-uddin, head of currency strategy at NatWest Markets in Singapore. “The focus in G-10 currencies is whether higher yields cause stocks to weaken, thus supporting safe haven currencies.”
There is plenty of ‘froth’ in markets. The bitcoin mania being a huge clue as to many people having money to waste on silly things. All surging markets attract scams and this is one epic scam from hell. The struggle to get the fake money scam shooting to the moon is a sign that childish schemes to loot people are beginning to not operate at prime speed.
I have pointed out for years and years and years that the ‘strong dollar’ was how our ‘trade partners’ systematically undercut our domestic industries. It is an invasion tactic. It bombed out Detroit, it destroyed Cleveland, it left the Midwest in ruins. It literally turned former great manufacturing cities into smoking ruins, as bad as any war.
Stopping this is a monumental task and Trump has applied as much pressure as humanly possible to reverse this. About time, too. The super rich also park all their loot overseas, too. They manufacture overseas, collect the profits and then export this, too.
They are traitors, open traitors. We get cheap goodies but pay a very steep collective price. The news about the dollar being ‘weak’ against say, the yen or yuan is great news for US businesses competing with imports.