Many American economists say the greenback is falling because the global economy is recovering – so investors no longer need the dollar as a "safe haven".
That's nonsense. The reality is that "safe haven" status has shifted away from the dollar and towards tangible assets that the US government can't debauch by printing more of them.
That's why gold just hit a fresh all-time high of well over $1,000 per ounce. That's why commodity-backed currencies like the Australian dollar are now soaring – causing howls of protest from Aussie exporters. Meanwhile, global investors are quitting the US currency because they're worried it's a sinking ship.
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