US dollar: what the voices are saying

Each voice's latest take

Every mention

• Tightening financial conditions driven by the dollar are a warning signal that could hit global liquidity and then markets.

  “Financial conditions have been tightening because of the dollar, etc. That puts up a warning signal.”

  Mentioned in passingRaoul Pal, Raoul Pal, Oct 22, 2026Episode summaryWatch at 8:49#Global liquidity
• The dollar should be going lower according to the Everything Code but has been rising and is stuck.

  “The dollar, the everything code should says should be going lower. It's been rising. It is stuck.”

  BearishRaoul Pal, Raoul Pal, Oct 22, 2026Episode summaryWatch at 11:01
• Over the next few years there is a lot of potential downside for the dollar, especially if the AI capex story turns.

  “zooming out over the next few years, I think there's a lot of uh potential downside for the dollar”

  Mentioned in passingPrediction: dollar downside (next few years)Brent Donnelly, Scott Melker, Oct 19, 2026Episode summaryWatch at 53:33#AI capex
• The dollar's long-term trend is stronger, but DeMark signals suggest it should be relatively weak for a period in the interim.

  “Tells us the dollar should be relatively weak for a period of time.”

  NeutralRaoul Pal, Raoul Pal, Oct 15, 2026Episode summaryWatch at 15:54
• The US government will keep devaluing its liabilities by increasing dollar supply, and the 10-year yield rise is a dangerous signal.

  “The US government just continues to devalue its liabilities by increasing the supply of the dollars.”

  Very bearishSaifedean Ammous, Scott Melker, Oct 14, 2026Episode summaryWatch at 31:00#Interest rates#Treasuries and bonds

Often discussed alongside

• Interest ratesTheme
• Treasuries and bondsTheme
• AI capexTheme
• Global liquidityTheme