The PJ Tatler

Dollar keeps weakening

Cue the Tom Petty. Or maybe the Paul Simon. Depending on your perspective, the dollar is either free fallin’ or it’s just slip-slidin’ away. Either way, King Dollar is ailing badly.

The dollar fell against most major currencies Wednesday, hitting a 15-month low against the euro, after solid earnings from major U.S. companies and a healthier reading on the housing market fueled investors’ appetite for currencies linked to higher benchmark interest rates.

Let’s put on the tinfoil hat for a second. Billionaire currency speculator with a rep for breaking national banks for fun and profit gets into politics, heavily invests on one side. Sets up think tanks, funds pundits, really becomes an impact player. A president whose policies are tightly aligned with the pundits and so forth that he supports gets elected, and whaddya know, another currency gets weakened, massively. The currency of the very country he’s been investing so much in.

D’ya think the minions he pays for will ever catch on? Nah, neither do I. He picked the ones he picked for a reason.