Strong Dollar is Black Swan -Rick Ackerman & Greg Hunter Video | Economy:
Strong Dollar is Black Swan -Rick Ackerman & Greg Hunter Video
So, will there be a point when the dollar will be knocked down in value? Ackerman says, “The Fed can monkey around with the little stuff, but when you talk about a quadrillion dollar market ($1,000 trillion), it’s much bigger than all of the central banks put together. It’s a real humpty dumpty situation, and all the king’s men couldn’t begin to address strength in the dollar. It’s just going to happen.”
Ackerman says, “The strong dollar is the black swan.” Ackerman explains, “It’s the one thing that can’t be controlled, and it’s there in front of our faces, and you can see why foreign investors want to put their money in dollar denominated assets. . . .When you take a couple of steps back, you can see the extent of mal investment in this world. The only European country that is paying higher interest than the U.S. is Greece. You go to Spain and Portugal, and they are borrowing for practically nothing. When you consider the risk there, you have to conclude investors have lost their minds. Money has been so easy for so long that we neglect to consider there is not reward for putting your money out there for 10 years in some European bond.”
(There is much more in the video interview.)
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