The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Real Man who wrote (38899)	6/5/2011 11:36:00 PM
From: carranza2	Read Replies (1) of 71475

Gold does not have a place in modern central banking, except that some CBs keep it in reserves; some don't. I used to think so, too. Except its rise has eerily correlated negatively with the increase in paper stock. I think we need to have something rare, fungible, relatively portable, and beautiful as a marker. Otherwise, whatever we use can be created out of thin air and therefore devalued. Gold just is, it does not need trust or confidence to hold its value. It inspires confidence in a fiat currency to the extent a CB has it. We - the Treasury - have lots and lots of gold, but there are also lots and lots of USD.

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