The dollar, fundamentally and completely valueless for reasons that I have discussed here at great length, has gone ballistic. The TV punditry and other halfwits would have us believe that it’s a flight-to-safety, but this is just so much rubbish. We are witnessing the mother of all short-squeezes, pure and simple, and its cause is the inability of borrowers of dollars to cover their short positions simply by rolling their loans. This is a deflationary noose around the neck of the whole financial system, and it will simply have to run its course. As noted here earlier, we should expect little resistance up to around 92.