Thursday, April 21, 2011

John Embry: The U.S. Dollar Is Over-Owned

“The dollar is seriously over-owned.  They’ve just sent so many dollars out into the world and because they were the reserve currency people accepted them.  And suddenly now, particularly with the S&P coming out and suggesting they are going to put the US on credit watch, maybe it isn’t the safe haven that people have always believed it was. In that case there is an awful lot of dollars that may be looking for the exit so that is why it could plunge at some moment.”

John Embry

1 comment:

  1. The only reason our dollar has maintained the value that it currently has is because it is backed by the US military. And the world markets know that.

    Right now, that is the single biggest reason that it still has the value that it has.