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The Dollar Bulls Are Looking Increasingly Like a Cult

  • Article
  • Jul 19, 2022
  • #Money
Jared Dillian
@dailydirtnap
(Author)
www.bloomberg.com
Read on www.bloomberg.com
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1 Mention
The U.S. dollar has appreciated against every Group of 10 currency this year. It’s done even better on a longer-term basis, with the Bloomberg Dollar Spot Index rising as much as 16... Show More

The U.S. dollar has appreciated against every Group of 10 currency this year. It’s done even better on a longer-term basis, with the Bloomberg Dollar Spot Index rising as much as 16% since May 2021 -- a massive move for a developed-economy currency. Naturally, betting on gains in the greenback has acquired a huge following, even among retail investors, gaining a cult-like status almost equal to the self-described “apes” that cheerlead for meme stock AMC Entertainment Holdings Inc.

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Alex Gladstein @gladstein · Jul 19, 2022
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Good explanation of @SantiagoAuFund's "Dollar Milkshake Theory" here in Bloomberg TLDR all fiats are devaluing in purchasing power over time but the dollar is devaluing less rapidly because everyone else's currency is weaker and they all want dollars
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