Money

John Williams: Things have never been more negative for the dollar

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The Dollar

(YouTube) “We have ahead of us here probably the worst fundamentals ever facing the dollar. I don’t think the U.S. dollar against the rest of the world’s major western currencies including the Canadian dollar. I don’t think things have ever been more negative. Not only do you have problems on the fiscal front, which I don’t think I need to go into further detail with, you have problems on the monetary front with the Federal Reserve. The Fed, let me just back up a point or two. We had a financial panic in 2008. People in Washington were saying, oh my goodness, we’re within a day or two of a collapse of the banking system. Well, they weren’t kidding. They really were. We should not have gotten to that point. There are all sorts of reasons that we’re there never should have happened, but we were there.”

 

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