by Jeff Berwick
Dollar Vigilante
Did you know that Thursday was one of the most critical market days in recent memory, one that should be internalized by gold bulls, currency traders and equity investors alike.
It was the day the latest central banking “bait and switch” died.
What did we learn? The dollar is done tightening in any meaningful way. And the euro is done loosening.
In the past, we’d been told the opposite. The Fed was tightening and the euro was loosening.
But on Thursday, it became clear Mr. Market didn’t believe the Fed’s tightening fairy tale. The dollar dropped hard.