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Egon von Greyerz
@GoldSwitzerland
So, the dollar index measures the dollar against six fiat currencies: Euro, Pound, Yen, Canadian Dollar, Swedish Kroner and Swiss Franc.
The Chinese Yuan shines in its absence even though China is the second biggest economy in the world.
But here is the crux. The dollar is in a race to the bottom with 6 other currencies.
Since Nixon closed the gold window in 1971 all 7 currencies, including the US dollar, have declined 97-99% in real terms.
Real terms means constant purchasing power.
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