Global currencies and Bitcoin vs. USD
Reference a previous post on ‘commodity currencies‘
From NFTRH 705‘s Currencies segment…
Everybody in this sad picture is as they were last week. The reserve currency is sucking up all that liquidity fleeing the risk ‘on’, inflated cyclical asset world and the other ‘non-reserve’ currencies are being exposed as the fundamentally valueless instruments they are. Of course USD is also nearly valueless. It’s only value – if I may go gold bug on you for a moment – is its functional status as macro counter-party. Little more than a tool, if you will.
Here is a weekly chart summary that will surprise absolutely no one as Uncle Buck has sopped up all that knee-jerking liquidity that came barreling out of asset markets upon the Fed’s hawk jawboning.
‘Commodity currency’ CAD/USD is still intact to very important support.
AUD/USD has held support so far as well.
BTC/USD offers absolutely no relief from the more progressive end of the currency world. Indeed, from NFTRH 705…
BTC/USD had a gross failure last week. Are they still wearing those laser eyes on Twitter? When those are all gone, all promoters debunked, then maybe we can take interest in the (would-be) future of money.
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