The US dollar continues to show its true colors as it bleeds off purchasing power, meanwhile cryptocurrency's are surging higher.
Today Bitcoin hit a new all time record high breaking above $2900, a trend which will continue.
The action that we have been seeing as of late with regard to the US dollar should be a clear sign of lack of demand for the dollar in a failing economy. With money velocity, that is the rate at which cash is moving through our economy, near historic lows it is easy to see that there is in fact no sign of a recovering economy here in the United States despite what the mainstream media and their corporate governors want you to believe.
The falling dollar value occurring simultaneously along with surging cryptocurrency's is an "in our face" sign that the Smart Money is diversifying away from the dollar.
Not to be ignored, is the recent high demand for both physical gold and physical silver, again a sign that the Smart Money no longer believes in "king dollar."
With regard to the US dollar, the writing has been on the wall for a very long time however, the recent surge in the value of cryptocurrency's, who's market capitalization has now reached over $100 billion, should serve as a clear sign that the US dollar is not where you want to be.
Gregory Mannarino
