Gold Coin Sales Halted After Retail Rush

Another vote of non-confidence in the US dollar, economy and government.

The US Dollar's Collapse -- "In Context"

In my post Another Vote of No Confidence from the World, I showed how the US dollar had tanked over the prior week, showing what international investors thought of how we were handling our affairs. A reader took me to task for this, claiming that I should have shown the move in greater context.

Well, the point was the reaction to the financial crisis, but fine. Here's what the US dollar index has done during the Bush presidency:



I think that should be sufficient "context" for anyone with even an ounce of objectivity.

Another Vote of No Confidence from the World

This is what the world thinks of how we are handling our economic affairs right now.

This is the price we will pay. Our children and grandchildren will pay much more.

By the way, gold is up another $30 an ounce today, and oil spiked a record $25 a barrel before falling back before the close.

How Much Confidence Does the World Have in the U.S. Economy Right Now?

Here's one indication:


Yep, spot gold up almost $90 an ounce in one day. The price of gold is affected by many things, but it most often makes big moves upward when investors panic and want to get into something more "tangible". Even so, a move like this is almost unheard of -- by way of reference, gold went up by a smaller percentage than this on 9/11/01.

Part of the reason for it is also that the US dollar tanked today, reflecting further lack of confidence in our nation's ability to manage its affairs.