Skip to main content

With Gold Just 1% From Record Nominal High of $1,444/oz The Risk Of A Dollar Crisis Increases By Day

From GoldCore.com
Gold Just 1% From Record Nominal High of $1,444/oz – Risk of Dollar Crisis Increases By Day
The U.S. dollar and yen are under pressure again today while gold and silver have taken breathers after yesterday’s gains (see table). Rather than gold and silver rising in price, we are seeing the continual devaluation of the U.S. dollar, the yen and all fiat currencies and thus their prices falling against the precious metals.

Incredibly, the dollar has lost 7.5% of its value in less than 3 months (since January 7th 2011) and more than 17% in just 8 months since August 2010. Hence the nominal record highs in gold and silver. The volatility and sharp falls in the dollar are leading to deepening inflation throughout the world (as seen in the UK inflation rate of 4.4% today).

Read more: Here

Comments

Popular posts from this blog

The Debt Bubble Expands As Auto Loan Amounts Hit A New Record

Is anyone surprised that the poorest and least credit worthy of Americans are being saddled with piles of debt in order to buy new cars? It’s not enough that a generation of our citizens will toil pointlessly to pay off more than $1 trillion of student loans, we may as well add some other form of debt burden on top of it. It’s hard to even imagine this is happening so shortly after the last credit bubble train wreck, but happening it is. Creative ways for people to purchase cars they can’t afford have been on my radar screen for some time now, and if you recall, I posted an article last April titled:  Just Keep Dancing: Introducing the 97-Month Auto Loan . Well the dancing has continued, and now we have Americans borrowing at all-time record levels to buy cars. USA! USA! Read more: here