Saturday, September 25, 2010

Is Gold Really at A Record High? Not in Other Currencies

Much is being said about gold's record price. The financial entertainment media certainly makes much hysteria about it. However, is gold really at a record rice, or are the world's major currencies simply being devalued. As readers know, our thesis is that there is a  race to devalue currencies. Cheaper currencies, means cheaper exports, cheaper debts. As we reported last week, that is exactly what the Brazilian finance minister said about the world's major powers.

Well, we do track the price of gold in other currencies. Here is the latest price showing perfoemnce wince 2009:

You can view this live at or tracking site.
These are the numbers. (Numbers do not lie).
  • Gold in USD: 46.92%
  • In EUROS 52.03%
  • In CAD 24.49%
  • In AUD 7.01%
  • In BRZ -4.26%
While the gains have been massive in USD and Euros, they are not so much in Australian dollars, and gold has still lost value in Brazilian Reais.

Beware what you read out there or what the fanatics tell you!

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