Currency Crisis Has Begun
By Toby Connor
It’s been my position for a while that Bernanke’s monetary policy would eventually create a currency crisis in the worldâ€™s reserve currency.
I warned that crisis would begin as soon as it became apparent the dollar was caught in the grip of the 3 year cycle decline.
I had three conditions that had to be met before I was willing to call the beginning of the end. The first condition was for the dollar to move below `82. That was the warning shot that problems were developing.
The second and third conditions were a move below long term support (80) and a failed intermediate cycle.
The drop below 80 this morning has now completed the final two conditions.