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What Happened to the End of the World & Dollar Today?

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COMMENT: Well Marty, I guess you are right and the lunatic fringe who said the world would end today and the dollar would crash all because the IMF would include the yuan of China in the SDR failed. These people always bad mouth you, but they are never right. Looks like the Dow is up and gold is down. Was there really a surprise?

REPLY: I do not get this, quite frankly. We get these dire forecasts that never materialize. These forecasts claim everything from Y2K to the opening of Shanghai destroying Comex. It is what it is. I really fail to see how putting the yuan into the SDR calculation would cause the dollar to crash when nobody uses the SDR besides the IMF, and the dollar is the major component of the SDR. It just makes no sense. They really are just like Chicken Little, always worried the sky is falling.

Look. They sell a lot of BS and strip-mine people of their wealth. That’s just what they do.