by Simon Black
Maybe it’s greed. Or fear. Or blatant irrationality. But there’s something inside human nature that makes us think unsustainable situations can last forever.
One of those has been the meteoric rise of the US dollar, particularly over the last year. The dollar became king once again in 2015, towering over oil prices, gold prices, and just about every other currency on the planet.
The South African rand, the Colombian peso, the Canadian dollar, the Australian dollar, the Singapore dollar, the euro, the pound. Each of these has reached a multi-year, multi-decade, or even all-time low against the US dollar within the last several months.
This, clearly, is not sustainable.