The “Pesofication” of the U.S. Dollar
By Martin Hutchinson, Contributing Editor, Money Morning
I’ve dubbed this the “pesofication” of the U.S. dollar.
But we’re really talking here about the dollar’s long-term demise.
The pesofication of the dollar represents the end of the greenback as a major world currency and figures to be one of the major long-term challenges that we U.S. investors will face.
The dollar’s demise was set in motion several years ago. But the greenback’s fate was sealed in late April, when U.S. Federal Reserve policymakers had a final chance to take a stand against inflation – and failed to do so.