The dollar is in trouble. Despite offering relatively high interest rates, it’s not just cratering against safe havens, it’s also falling against soft alternatives. Gold and the Swiss Franc, Sterling and the Peso, are all rising against the greenback. Of course, short-term currency moves are essentially random. We should fight the temptation to take too much notice. We know the trader’s graveyard is heavy with those who did. As best we can, we should avoid joining them. But we do know some things. The United States emerged from World War 2 as the supreme provider of product and credit to…
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