Call it The Fed’s Covid Blitz. The Federal Reserve expanded its balance sheet (red line) as a result of the Covid epidemic.
The US Dollar (green) has declined from 102.817 on March 20, 2020 to 89.937 today.
Since the end of November (pink box), Gold and Bitcoin (particularly Bitcoin) have surged.
Silver? Like Gold, it has rallied since the end of November. But Silver was beaten out by Bitcoin as well.
The big winner today? XRP! US regulator has charged Ripple over its XRP asset, saying it’s a $1.3 billion unregistered offering, not a cryptocurrency. And Ethereum is down slightly.
Speaking of Ripple …