Russia is flexing its military muscle daily as events in the Ukraine worsen as threats of more threats are coming from the European Union and Washington. Russia has made it known that they will not bow to foreign pressure especially at a time when its ally China is in full attack mode on the U.S. dollar and U.S. controlled central banks.
Today, Sweden reported that Russian combat aircraft entered international air space without having their transponders turned on. NATO jets and the Swedish Air Force tracked four Russian combat aircraft flying over the Baltic sea. Swedish Foreign Minister Margot Wallstron said it was unacceptable for the Russian planes to be flying with turned off transponders that are necessary for identifying aircraft on radar. Wallstrom claims it’s a violation of international aviation rules. Tuesdays sightings come as Finnish and Swedish aircraft are entering a joint training exercise with U.S. fighter aircraft over the Baltic sea.
HSBC analysts in London, Hong Kong and New York believe the dollar is either at or nearing the end to its bull run. Analysts are pointing out that past dollar rallies have seen a dollar appreciation of around 20 percent and lasted less than a year making the current rally already ahead of the norm. They also point that QE boosted declines in the euro and the yen have already exceeded those seen in the first and second rounds of U.S. quantitative easing and believe most evidence suggest the rally is done.
Disappointing U.S. economic data suggest that the dollar is the most over valued currency in the world. This line of thought would also extend to U.S. stock markets as asset bubbles are everywhere. Generally as the dollar goes one direction, gold and silver go another. If indeed the HSBC analysts are correct, it’s going to be a rough year for paper assets.
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