Tag: "dollar"

Still confused about the future of the dollar?

Doug Tjaden | January 21, 2011 | 0 Comments

The Chinese leaders have a 5, 10, 50 and 100 year plan.  The U.S. leaders have a plan to get re-elected in two years.

Chinese President Hu Disses the Dollar; Says U.S. System is a ‘Product of the Past’

Published January 17, 2011

Dec. 31, 2010: Chinese President Hu Jintao delivers a New Year's address in Beijing.

AP2010

Dec. 31, 2010: Chinese President Hu Jintao delivers a New Year’s address in Beijing.

BEIJING—Chinese President Hu Jintao emphasized the need for cooperation with the U.S. in areas from new energy to space ahead of his visit to Washington this week, but he called the present U.S. dollar-dominated currency system a “product of the past” and highlighted moves to turn the yuan into a global currency.

“We both stand to gain from a sound China-U.S. relationship, and lose from confrontation,” Hu said in written answers to questions from The Wall Street Journal and the Washington Post.

Read more: http://www.foxnews.com/world/2011/01/17/chinas-president-calls-based-currency-product-past/#ixzz1Bi0wJ3K1

View Post

Update on the most important chart…

Doug Tjaden | December 22, 2009 | 0 Comments

Here is an update on “the most important chart in 100 years.”  The dollar broke out to the upside, but did so in a manner that suggests a short squeeze more than a major turn.  If it can consolidate here without turning down sharply, it should set up a sideways trading range. It may even make 80 for a final test of the major multi-decade breakdown level.  However it could just be a bull trap where it turns back down violently.  It will bear watching closely.  74 has now become a very important technical level.  When it is broken to the downside it will bring on accelerated selling similar to the buying we have seen on the upside breakout.

View Post