Dollar plunging and its implications
What's going on? The positive read is that this move signals a return to risk taking. Investors are selling the dollar because they no longer are flocking to safe havens.
The negative read? That the Federal Reserve and Treasury Department are completely out of control when it comes to banking bailouts, money printing, borrowing, and spending. We now have both falling bond prices and a falling dollar. If gold starts heading toward and through $1,000 an ounce as well, it will be a trifecta of signals that investors are losing faith in U.S.-denominated assets. My take, anyway.