It seems investors and media outlets are hyper-focused on trying to figure out how the Bureau of Labor Statistics ended up being so incompetent and getting the Jobs Report so horrendously wrong, all the while they aren’t talking at all about the massive attack against the U.S. Dollar coming from the BRICS Alliance. And this really needs to have more attention and focus directed to it, because there’s a real possibility that the next Black Swan event could be a result of this assault on our dollar.
Writer AJ Monte with ZeroHedge said, “It is no secret that momentum is building around their master plan to remove the US Dollar as the Global Reserve Currency. According to BRICS, the GDP of their nations accounted for 31.5% of the Global GDP as of 2023, and the alliance is growing. The International Monetary Fund (IMF) has also stated that the BRICS nations still have a significantly higher growth forecast at 3.6% compared to the G7 Nations average of 1%.”
He then goes on to explain that if the de-dollarization plan put into action by BRICS succeeds in its mission, the value of the dollar will go swirly down the toilet and the resulting spike in inflation will absolutely pulverize the economy. I know what you’re thinking. Hasn’t our economy already been beaten to a bloody pulp? Yes. Yes, it has. But believe it or not, it can take even more extensive damage. And if you think it’s rough going right now, imagine how ugly things will get if inflation skyrockets even higher and your dollar is worth less than it is now.
Could this be the Black Swan event that bearish traders have been waiting for? Perhaps, but the charts are giving us a clear signal that the oil stocks could rally from here.Below is a daily candle chart of the Vaneck Oil Services ETF. On Friday it closed with a long bullish candle on higher volume. The Stochastic Oscillator is about to cross with a buy signal and the Commodity Channel Index (CCI) has just crossed the momentum line. My upside target is set at $319.50 which would bring the price up to the gap fill point. Note: This stock has reached my price targets 29 out of the last 35 times I’ve analyzed it. While an 82.9% hit rate is impressive, it does not guarantee future results.
We are currently living through an economic nightmare. Groceries cost double, sometimes triple what they did when former President Donald Trump was in office. Families who made comfortable livings during that period of time are now trying to survive paycheck-to-paycheck. The middle class is quickly going the way of the dinosaur.
If you aren’t the praying type, I challenge you to reconsider that.
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