Now that the Swiss have pegged the Franc to the soon-to-be-broken-up Euro, the US Dollar is now the primary “flight to safety” paper currency for the world. With that in mind, we need to consider that the greenback appears to be forming a massive wedge pattern:
This pattern predicts a possible target of the mid-80s. Remember, the last two major US Dollar rallies were caused by Crises (2008 and the Euro Crisis of 2010). So if the greenback explodes again here, it will be based on another round of deflation/ systemic risk.
However, in order for us to get there, we need to take our resistance at 76:
This is the line to watch. When we take out 76, the financial system will be in BIG TROUBLE again.
Indeed, I fully believe that the financial system is now more in danger of systemic collapse than at any point in history (including 2008). Do NOT be fooled by the rally of the last few days. We saw rallies of 8%, 11%, even 17% during 2008. Those investors who bought into them got taken to the cleaners.
Things are so dangerous that I’ve had Private Wealth Advisory subscribers open our Crisis Trades: the trades we used to produce triple digit gains during the 2008 Crash.
We’ve also prepared our personal finances and loved ones for what’s coming (Crashes, civil unrest, food shortages, bank holidays and more) with my Prepare Your Family, Prepare Your Savings, and Prepare Your Portfolio reports.
If you’ve yet to take steps to prepare your portfolio and your loved ones for what’s coming, NOW is the time to do so while the markets are still holding up.
Because once the selling pressure comes back into the markets (a matter of days) it will be too late.
To take action now, pick up your copies of my Prepare Your Family, Prepare Your Savings, and Prepare Your Portfolio reports and join my private client list in receiving my bi-weekly market analyses and real-time investment alerts, all you need to do is take out a “trial” subscription to Private Wealth Advisory…
To do so… and start preparing for a Crisis that will make 2008 look like a picnic (heck just look at the first leg down that occurred in early August)…
Best Regards
Graham Summers
