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Strong Dollar and Weak Mining Stocks

In: The Gold Cartel

Author

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  • Dimitri Speck

Abstract

We now want to turn to two markets that are connected with the gold market interventions. In the context of the gold market interventions in the financial crisis year 2008 and the during the euro crisis in 2011, the main motive was clearly the combating of crises. At other times, however, it was the fight against inflation or support of the dollar. Support of the dollar deserves further examination. Since the mid-1990s, US politicians – deputy secretaries of the treasury, treasury secretaries and even presidents – have stressed time and again that they were pursuing a ‘strong-dollar policy’. As they have never explained what the ‘strong-dollar policy’ actually consists of, it was suspected that this could only be the suppression of the gold price (for instance, on the part of GATA, which was founded to oppose gold market interventions). We want to examine whether there is any truth to the thesis that the ‘strong-dollar policy’ consists of gold market interventions in order to support the dollar indirectly.

Suggested Citation

  • Dimitri Speck, 2013. "Strong Dollar and Weak Mining Stocks," Palgrave Macmillan Books, in: The Gold Cartel, chapter 0, pages 140-143, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-28643-7_25
    DOI: 10.1057/9781137286437_25
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