A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

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Entry from November 13, 2011
POSX (U.S. Dollar Index or USDX nickname)

The U.S. Dollar Index (USDX) began in March 1973 and indexes the value of the United States dollar to foreign currencies. Turd Ferguson, of the blog TF Metals Report (his previous blog was “Along The Watchtower"), nicknamed the USDX as the “POSX” (POS=piece of shit) on March 21, 2011. Ferguson’s use of “POSX” reflects that he doesn’t think much of the strength of the dollar.


Wikipedia: U.S. Dollar Index
The US Dollar Index (USDX) is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies.

It is a weighted geometric mean of the dollar’s value compared only with

. Euro (EUR), 58.6% weight
. Japanese Yen (JPY) 12.6% weight
. Pound sterling (GBP), 11.9% weight
. Canadian dollar (CAD), 9.1% weight
. Swedish krona (SEK), 4.2% weight and
. Swiss franc (CHF) 3.6% weight

USDX goes up when the US dollar gains “strength” (value) when compared to other currencies.

USDX started in March 1973, soon after the dismantling of the Bretton Woods system. At its start, the value of the US Dollar Index was 100.000. It has since traded as high as 148.1244 in February 1985, and as low as 70.698 on March 16, 2008, the lowest since its inception in 1973.

The makeup of the “basket” has been altered only once, when several European currencies were subsumed by the Euro at the start of 1999.

Investopedia
What Does U.S. Dollar Index - USDX Mean?
A measure of the value of the U.S. dollar relative to majority of its most significant trading partners. This index is similar to other trade-weighted indexes, which also use the exchange rates from the same major currencies.

TF Metals Report—Turd’s Glossary
POSX: The Piece of Sh*t Index. Most everyone else calls it the dollar index or USDX.

A Slacker’s Quest
Acronym, Phrase, and Name Glossary
(...)
POS = piece of shit, as in “I bought this stock because of Jim Cramer’s recommendation, but the POS is hitting new lows every freaking day!”
POSX = US Dollar Index, as in “the POSX was down again today while the Federal Reserve kept churning out new dollars.”

Along The Watchtower
Monday, March 21, 2011
The Battle Continues
Posted by Turd Ferguson at 3:16 PM
(...)
Regarding, the POSX (my new name for the USDX), Gonzalo Lira has submitted an update that you should take a few moments to read:
http://gonzalolira.blogspot.com/2011/03/toldja-dollar-broke-lowerso-now-what.html

Along The Watchtower
Friday, April 1, 2011
The Big Picture (What’s Really Going On)
Posted by Turd Ferguson at 10:23 AM
Never lose sight of the big picture. Perhaps today is a good day for a reminder.

The U.S. government is broke/bankrupt.
(...)
This is exactly what we have seen in the past 24 hours. Take a look at this 2-hour chart of the June POSX (our new name for the USDX): ...

Along The Watchtower
Wednesday, April 6, 2011
Others To Watch
(...)
Let’s start with the dollar. What a pig! An absolute, snorting, smelly, muddy, rolling-in-its-own-crap pig! Remember, the POSX is an index. A measure of the US$ vs a full basket of other currencies. To really get an appreciation of just how little the entire investing world thinks of its “reserve currency”, take a look at this chart of the dollar vs the euro:
(...)
That the dollar has fallen this sharply versus this piece of amalgamated monetary shit is startling, frankly, and somewhat disturbing. How desperate must global money managers be that they are running to the euro as a safe haven. The euro, for the love of pete!

InvestorVillage
Msg 71169 of 86051 at 4/27/2011 10:52:31 PM by couplover
Re: POSX @ 73.05...and what that means to me
Here’s a fun exercise to use the POSX . I wanted to see what “real value” for DOW was when measured in USDX (POSX) versus just being measured (quoted) in USD (FRN). 

Posted by Barry Popik
New York CityBanking/Finance/Insurance • (0) Comments • Sunday, November 13, 2011 • Permalink