GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Wednesday, July 25, 2012

BOB CHAPMAN : The U.S. Dollar Index USDX could go down to the 45

BOB CHAPMAN : I think that on the U.S. Dollar Index (USDX), the dollar could go down to the 45 mark. On the other hand it's about 82 right now, down from 89 and up from 74, six or seven months ago. If you think the dollar is going to go down in value, as I do, in order to hedge against that one could buy Treasury Securities denominated in Swiss francs or Canadian dollars. I think those two currencies will do well versus the dollar. If you look at the figures for the last seven years, you'll find that every currency in the world went down versus gold. In the first six months of 2010, most of the major currencies went down 12% or 13%. The final arbiter here is gold. The question is who's going to win? Is gold going to become the ultimate currency or is it the dollar or will it be another currency? It's hard for another currency to compete with gold with all the debt out there and all the problems the world's got when you have a fiat currency that's backed by nothing. The only currency out there that has a backing of gold is the euro; it used to be that 15% of the currency was backed by gold, but now it's about 7%. - in the aureport

5 comments:

  1. This is certainly one of the most valuable posts. Great tips from beginning till end. Lots of suggestions for me and for people. Superb work
    Collect Silver Coins

    ReplyDelete
  2. If the dollar does continue to plummet then my investments in physical bullion will almost assuradely be on the rise. Cheers, good post.

    ReplyDelete
  3. Do you know why Bob Chapman suggested Mexico as the preferred location during the upcoming economic upheavals?

    ReplyDelete
  4. It's glad to see good information being convey. Its a very nice written, and I really like this blog. Thank you for sharing this info.

    ReplyDelete

Related Posts Plugin for WordPress, Blogger...