Dear me, the illustrious US dollar has suffered a most alarming depreciation, losing over 10% of its value in the span of a single year! 📉 What a pickle! One might say it’s as flimsy as a Jeevesian umbrella in a hurricane.
The US Dollar Index (DXY) has lost 10.41% of its value since the start of 2025, which is like watching a well-dressed gentleman lose his top hat in a tempest. The euro, yen, and pound are now dancing with glee, while the dollar flounders like a fish out of water. 🐟
Meanwhile, precious metals like gold and silver have staged a dramatic coup, with gold soaring 65.32% to $4,331 per ounce and silver leaping 147.97% to $72 per ounce. One might say they’ve taken the reins of the financial world with the flair of a seasoned vaudevillian. 💰
In a new op-ed for The Free Press, economist Tyler Cowen warns that the rush for precious metals is “a flash warning for the economy.” By Jove, if this isn’t a red flag, I don’t know what is! 🚩
“The rush for precious metals should worry us all. It reflects a new and possibly disastrous danger on the horizon…
The economy is becoming more correlated. Translated to everyday English, that means we have fewer sources of financial protection if matters, either economically or politically, were to go very badly. And so precious metals are stepping into the hedge and protective roles that were once fulfilled by the US dollar.”
Cowen laments that US policies and leaders are increasingly seen as unpredictable sources of chaos, eroding confidence in the dollar’s historically protective role. One can only imagine the consternation of a once-proud currency now reduced to a mere footnote in the grand narrative of global finance. 😢
“It used to be that if you were worried about the future, you would move into dollars as the safe haven-in finance terms a countercyclical asset, which stays resilient when higher-risk assets fall.
But if the United States’ own government and policies are unpredictable, and its economy is volatile, you will look for some other hedges instead. Chaos in the U.S., and particularly in the White House, is pushing investors to find alternatives to the dollar.”
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2025-12-30 02:27