FRIDAY 7/21/17; Euro Pops Above 1.16; US Dollar Drops Under 94; European Indexes Selloff on Stronger Euro; GE; CL; HON; KSU; RF; STI; SLB; VOD; RUT (Russell 2000) and NDX (Nasdaq 100) Print All-Time Record Highs

Euro 1.1629. The euro is at levels not seen since January 2015. Traders are not buying into ECB President Draghi’s dovishness sine he said, out the other side of his mouth, that he would begin discussing the tapering of QE in the autumn.

A double whammy occurs for the euro since the 












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 has greedily amassed huge fortunes over the last nine years courtesy of the Federal Reserve’s easy monetary policies. This is America in 2017; Mark Twain would call it “The Gilded Age.” Social problems and societal unrest in Western nations are papered over by layers of central banker easy money. Enjoy the ride since the destination is not a pleasant place.