The latest comments from Graham Summers on yesterday's puppet show.

Regards - VHF

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Bernanke Has Officially Killed The Dollar

Graham Summers

April 28, 2011

Yesterday, Bernanke staged a “conference” answering “questions” from “journalists.” It’s striking that the man with the most power in the world would be handled with kid gloves. After all, if he’s in charge of directing the world’s reserve currency, surely he could answer a few hardball questions about his insane policies.

However, instead of holding this miscreant accountable for his monetary madness, the “journalists” let him prattle on with his meaningless drivel.

The markets, on the other hand, read through his BS. Soon after the conference the US Dollar collapsed to a three year low.

At this point, there is only one line of support left for the US Dollar. That’s one line, standing between us and the abyss of all-time lows: a point at which there is no support left.

Gold and Silver also bounced back after having been slammed by various suppression schemes last week. All those, “the rally is over,” folks got shanked in the ribs as Gold hit a new all-time high and Silver retraced almost all of its former losses in a few hours.

In other words, the great inflationary collapse of the US Dollar is in full effect. Again, there is only one line of support left for the greenback. If Bernanke was going to do ANYTHING to support the Dollar, yesterday was the day for him to have done it. Instead, we’re going to enter a mega-inflationary collapse.

Indeed, at the current pace we’re going the US Dollar will be collapsing within one month. This could change, but we’d need another 2008 type event to pull the US Dollar back from the brink. And judging from stocks and inflation hedges’ performance today, that ain’t happening.

So if you are not already preparing for mega-inflation, you need to get moving now. Because time is running out.