Quote:
Originally Posted by wig
Okay, so I take it we can agree that since gold is going up against all major currencies and is not specific to the dollar, your position is that all currencies that are declining against gold are "crashing"?
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in effect: yes. If you are going to base your currency on a certain product and the value of that product goes down, than in effect the value of your currency will go down as well. Most of the worlds central banks are using the USD and the EUR as their reserve currencies these days. In other words: their currencies are based on the USD and EUR.