In this report, I cover the early market action from London on Tuesday, April 9th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I look at the origins and history of the Dollar Index or DXY, USDX and show how this index is a good measure of the value of the dollar only against all other fiat or paper currencies but if you really want to protect your wealth or savings in the longer term you need to get out of fiat currencies dollar included.
Since 1973 when the Dollar Index was created at a value of 100 the index has fluctuated but with where it is now at around 97 it shows that the dollar has dropped around 3% versus this basket of other major currencies while gold has gone from around $100 in 1973 to around $1300 at present.
My conclusion is that even though the strength or weakness of the dollar index in the short term might affect the precious metals, in the long run, it does not matter what fiat currency you choose to favor as they are all sinking versus real money or gold and silver.
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Currencies: They Are All Sinking (2007 article): http://www.marketoracle.co.uk/Article850.html
