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Offline mystery-ak

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As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« on: April 21, 2025, 01:15:11 pm »
 April 21, 2025 12:41pm EDT
As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
Weak US dollar means ‘turbulence and higher prices,’ Steve Forbes cautions

By Kristen Altus FOXBusiness

Tariffs, the Fed and America’s crumbling reserve currency – the economic volatility is painting a gloomy fiscal picture that will result in a recessionary slowdown, according to one expert.

"The dollar is weakening, and that always leads to future inflation," Forbes Media Chairman and editor-in-chief Steve Forbes said on "Varney & Co." Monday.

"Since 2023, gold's gone from $1,800 to $3,400 an ounce. That's a sure sign we're going to have a weak dollar ahead," he expanded, "which means ultimately turbulence and higher prices in the marketplace. Just look at the 1970s, and we can see where that leads unless something is done about it now. But I don't see any sign that the authorities have any idea, constructively, of what to do, sadly."

Wall Street’s top indexes each lost more than 1% and the U.S. dollar fell to a three-year low on Monday, Reuters reported, as President Donald Trump’s public criticism of Federal Reserve Chairman Jerome Powell continues and markets battle global trade and tariff tensions.

Trump most recently called Powell a "major loser" and said the central bank should make "preemptive cuts" to interest rates. Trump's comments come after he said in a Truth Social post last week that Powell is "always TOO LATE AND WRONG" and that, "Powell's termination cannot come fast enough," though the chair has confirmed serving the remainder of his term through May 15, 2026.

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https://www.foxbusiness.com/media/gold-soars-dollar-sinks-forbes-warns-us-headed-towards-1970s-style-inflation-nightmare
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Offline Weird Tolkienish Figure

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #1 on: April 21, 2025, 01:34:09 pm »
Yeah, this is the sort of article we should see under Democratic Presidents, not GOP ones.
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Offline IsailedawayfromFR

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #2 on: April 21, 2025, 01:51:27 pm »
Quote from: Weird Tolkienish Figure on April 21, 2025, 01:34:09 pm
Yeah, this is the sort of article we should see under Democratic Presidents, not GOP ones.
When Democrats are in power, a falling dollar is a good thing.

Ever hear about how weak the dollar was during Obama's term?

See the graph
https://www.cnbc.com/quotes/.DXY/

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Offline LMAO

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #3 on: April 21, 2025, 02:03:12 pm »
Quote from: IsailedawayfromFR on April 21, 2025, 01:51:27 pm
When Democrats are in power, a falling dollar is a good thing.

Ever hear about how weak the dollar was during Obama's term?

See the graph
https://www.cnbc.com/quotes/.DXY/


So now the MAGA response is to go back and blame Obama. Good luck with that!!!! :rolling: :rolling: :rolling:


In case you forgot, Obama’s tenure ended in January 2017. It’s April 2025. Try to keep updated



But, continue to defend all of this and we’ll see if the voters next year agree that a weak dollar and their purchasing power declining is actually a plus for them. Of course, what else should we expect from  people who support a president who claimed not long ago that egg prices are getting too low. :rolling: :rolling: :rolling:


https://thehill.com/homenews/administration/5256708-trump-egg-prices-low/amp/
« Last Edit: April 21, 2025, 02:24:11 pm by LMAO »
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Offline Weird Tolkienish Figure

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #4 on: April 21, 2025, 02:04:30 pm »
Quote from: LMAO on April 21, 2025, 02:03:12 pm

So now the MAGA response is to go back and blame Obama. Good luck with that!!!! :rolling: :rolling: :rolling:

It's all they got.
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Offline LMAO

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #5 on: April 21, 2025, 02:06:02 pm »
Quote from: Weird Tolkienish Figure on April 21, 2025, 02:04:30 pm
It's all they got.

They’re doing the exact same thing that eventually cost the Democrats and destroyed the Biden presidency

Dismissing people’s economic concerns is a sure path towards electoral defeat. Trump also claim that grocery prices were going down when they are not.

https://amp.cnn.com/cnn/2025/04/17/politics/fact-check-trump-grocery-prices-down

Donald Trump says a lot of things that are  untrue because he knows his cult will not question him. But telling people they’re not seeing what they’re seeing didn’t work for Biden and the Democrats and it will not work for Trump and his MAGA movement

« Last Edit: April 21, 2025, 02:22:07 pm by LMAO »
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Offline catfish1957

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #6 on: April 21, 2025, 05:19:05 pm »
DJT...

We need to see some of these negotiations come to fruition soon.  I have supported this strategy, but this is towards equity, not lengthy  market downturns that will over bleed the equity to the point we have lost not only business value, but currency stability.   $3500 /oz. gold,. and doubling in a year is not that. 
« Last Edit: April 21, 2025, 11:51:44 pm by catfish1957 »
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Offline berdie

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #7 on: April 21, 2025, 05:21:48 pm »
Quote from: LMAO on April 21, 2025, 02:06:02 pm
They’re doing the exact same thing that eventually cost the Democrats and destroyed the Biden presidency

Dismissing people’s economic concerns is a sure path towards electoral defeat. Trump also claim that grocery prices were going down when they are not.

https://amp.cnn.com/cnn/2025/04/17/politics/fact-check-trump-grocery-prices-down

Donald Trump says a lot of things that are  untrue because he knows his cult will not question him. But telling people they’re not seeing what they’re seeing didn’t work for Biden and the Democrats and it will not work for Trump and his MAGA movement



Totally agree. If the economy doesn't improve before the mid-terms we are in deep doo-doo. Even worse if there is no improvement before 2028. And hopefully there won't be a full on crash. Most people vote on how well they are doing financially.
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Offline IsailedawayfromFR

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #8 on: April 21, 2025, 06:31:54 pm »
Quote from: LMAO on April 21, 2025, 02:03:12 pm

So now the MAGA response is to go back and blame Obama. Good luck with that!!!! :rolling: :rolling: :rolling:


In case you forgot, Obama’s tenure ended in January 2017. It’s April 2025. Try to keep updated



But, continue to defend all of this and we’ll see if the voters next year agree that a weak dollar and their purchasing power declining is actually a plus for them. Of course, what else should we expect from  people who support a president who claimed not long ago that egg prices are getting too low. :rolling: :rolling: :rolling:


https://thehill.com/homenews/administration/5256708-trump-egg-prices-low/amp/
Your comments show you obviously have an agenda as your comments do not pertain to what is shown on the graph.

How idiotic to say I am blaming Obama for anything, just looking at the graph it is apparent that our dollar did much poorly during Obama's time in office than it is doing now.

Get yourself together, troll.
« Last Edit: April 21, 2025, 06:32:46 pm by IsailedawayfromFR »
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Offline Smokin Joe

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #9 on: April 22, 2025, 12:17:00 am »
Quote from: LMAO on April 21, 2025, 02:03:12 pm

So now the MAGA response is to go back and blame Obama. Good luck with that!!!! :rolling: :rolling: :rolling:


In case you forgot, Obama’s tenure ended in January 2017. It’s April 2025. Try to keep updated



But, continue to defend all of this and we’ll see if the voters next year agree that a weak dollar and their purchasing power declining is actually a plus for them. Of course, what else should we expect from  people who support a president who claimed not long ago that egg prices are getting too low. :rolling: :rolling: :rolling:


https://thehill.com/homenews/administration/5256708-trump-egg-prices-low/amp/
Might want to update that. Obama's tenure ended January 2021. Biden sure wasn't running the show.
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Online kevindavis007

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #10 on: April 22, 2025, 05:26:48 am »
I feel so liberated.
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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #11 on: April 22, 2025, 05:28:18 am »
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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #12 on: April 22, 2025, 05:33:02 am »
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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #13 on: April 22, 2025, 05:54:50 am »
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Offline Right_in_Virginia

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #14 on: April 22, 2025, 07:16:30 am »
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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #15 on: April 22, 2025, 08:13:47 am »
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Offline LMAO

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #16 on: April 22, 2025, 10:13:39 am »
It’s obvious that Donald Trump is already looking for scapegoats to blame for his failures. Right now it’s  Powell. 

It’ll  sell with the red cap brigade. Doubtful the public at large is gonna buy Trump’s bullshit
« Last Edit: April 22, 2025, 10:16:44 am by LMAO »
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Offline rustynail

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #17 on: April 22, 2025, 10:17:31 am »
Will this bring back Disco?
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Offline DefiantMassRINO

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #18 on: April 22, 2025, 10:28:31 am »
Foreign nations used their trade surplus dollars to purchase US Government Debt.

Now, they are not doing that; they are parking their trade surplus dollars in gold.

Trump has also made thinly veiled threats that he won't allow nations that store gold at the NY Federal Reserve Bank to repatriate their gold.

When demand for Treasury Bonds drops, bond yields increase (prices decrease) to attract more buyers.  That's what's happening.  Higher rates have little to do with Powell; it's payback from foreign nations for Trump's tariff tantrum.
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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #19 on: April 23, 2025, 08:02:04 am »
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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #20 on: April 23, 2025, 08:03:33 am »
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Offline IsailedawayfromFR

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #21 on: April 23, 2025, 11:08:07 am »
Quote from: kevindavis007 on April 22, 2025, 05:28:18 am

https://twitter.com/StealthQE4/status/1914396577650893043
Those % drops do not even make the alltime top 20 drops of the DOW in history.

So easy to also forget the 2,962 point increase of March 9, 2025 that did make the alltime top 20 increase, isn't it?
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Offline MeganC

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #22 on: April 23, 2025, 11:11:11 am »
Quote from: IsailedawayfromFR on April 21, 2025, 06:31:54 pm
Your comments show you obviously have an agenda as your comments do not pertain to what is shown on the graph.

How idiotic to say I am blaming Obama for anything, just looking at the graph it is apparent that our dollar did much poorly during Obama's time in office than it is doing now.

Get yourself together, troll.

Some people refuse to let facts get in the way of their agenda. Reminiscent of the pro-Russian crowd at a certain website.
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Offline LMAO

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #23 on: April 23, 2025, 12:36:38 pm »
Quote from: kevindavis007 on April 23, 2025, 08:03:33 am

https://twitter.com/KenGardner11/status/1914785987361968375


Conservatives used to know all this pre Trump

I guess those red caps keep information from reaching the MAGA brain and making them  low information voters 88devil

They still believe foreign countries pay the tariffs :silly:

Now he's caving to China and claiming he never wanted to remove Powell....lol.  He would have been better off in doing nothing. Now China will smell weakness in US policy. Must be his “Art of the Kneel”

Watching some defend Trump's chaotic policy(when we know they wouldn't do the same if this was done by a Democrat) has been telling and further evidence that MAGA is indeed a cult
« Last Edit: April 23, 2025, 05:28:54 pm by LMAO »
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Offline DefiantMassRINO

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Re: As gold soars, the dollar sinks: Forbes warns US headed towards 1970s-style inflation nightmare
« Reply #24 on: April 23, 2025, 12:37:23 pm »
Dollar-phobes are feeing to gold as their preferred store of value because there is no other currency they trust as much or more than gold.

America's elites needs to get their $h!t together or get out of the way.
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