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Joe Biden’s MAJOR Problem

Graham Summers

Posted January 19, 2021

Graham Summers

The Biden administration has yet to take office, but it already has a MAJOR problem on its hands.

That problem is the U.S. dollar.

The greenback has declined over 13% since March 2020. That’s a significant decline to begin with. What’s particularly concerning, however, is the fact that the U.S. dollar continues to plunge without ever staging a significant rally. 

Put another way, this decline is occurring with few, if any, breaks.


We are currently seeing a “dead cat bounce” off of CRITICAL support (black line in the chart below). However, once we take that line out, (and we will soon) we’re in VERY serious trouble.


Below this level, there are only TWO lines of support left for the U.S. dollar: support established during the 2012-2014 debt crisis in Europe, and support established by the 2008 crisis. Put another way, the ONLY time in history that the U.S. dollar fell to these levels was when a major Black Swan event was taking place in the global financial system.

Anything below these levels and we are talking about ALL TIME LOWS here for the greenback. Think U.S. dollar crash.


Bear in mind, this is the situation BEFORE the Biden administration implements its intended $2 trillion stimulus program along with its $2 trillion infrastructure program. Throw in the various climate change, reparations and other social spending programs that Biden and his allies have been talking about and you’ve got the makings of an inflationary storm.

What does this mean for Americans?

I’ll detail this in tomorrow’s article. Until then…

Best Regards,

Graham Summers
Editor, Money & Crisis

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