In spite of being backed by nothing more than the full faith and credit of the United States Government (ahem………) the US Dollar is doing great compared to everything since, which is backed by the Full Faith & Credit of Everything Else.

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Weeks ago, I pointed out how the Euro (represented below by the EUR/USD chart) had reached major resistance. Sure enough, it has tumbled very hard since then. Here we see Christine Lagarde discussing the European Union at the most recent Jackson Hole, at which time she also made the surprise announcement about her new business venture, Just Like Leather Skin Care, Ltd.

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