Jett’s statements were made during an interview with Rick Wiles of TRUNEWS on Wednesday, while discussing how on going international currency wars are destroying the international competitiveness of U.S. manufacturing exports.
Jett began the interview by explaining that when the U.S. Dollar is described as strong, what is really meant, is that it is strong is relation to other extremely weak currencies. He continued to contrast the weakness of the dollar, by using the comparison of how it now takes over 1100 “strong U.S. dollar’s” to purchase an ounce of gold which used to go for $35.
Jett continued by saying other downsides to a strong U.S. Dollar are the crippling effects on U.S. manufactures, who cannot compete on the international export markets due to how expensive U.S. goods are priced in comparison to products from emerging markets.
Another often overlooked downside, Jett explained, is the effect on those with debts annotated in U.S. Dollars, like Nigeria and S. Africa. When the dollar is overvalued, countries with commodity driven economies begin to go bankrupt, while attempting to catch up with their debt burdens to the U.S.
For the full episode tune into the Wednesday, February 3rd edition of TRUNEWS.
Full article: Wayne Jett: Strong Dollar Fools Gold (TruNews)