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dom1971
Member since May 2012
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has posted a comment on the article :
Is the Eurozone Crisis a British-American Fantasy?
- John Rubino -
Dollar Collapse
I completely agree. Check out this chart of currency indexes...
http://www.forex-central.net/currency-indexes.php
... go to the "weekly" view showing 2003 to present. Can you see the euro drop below the 0% line EVER? No. It rises 25% and then takes a few tumbles in recent years, but despite all of this hallabaloo about the death of the Euro, its still worth more today than it was in 2003.
Now look at the red line (the US dollar). Does it ever once rise above 0%? No. It stays WELL below its value in 2003 at all times. Right the way down to -40% today. Look at the tiny weeny upturn in the line at the very bottom. Thats the big "rally" in the US dollar at the we're seeing at the moment. In a word? Meh.
Ultimately the money we work for (I live in Australia and get paid in US dollars) is worth 40% less than it was in 2003. A sound argument for PM investment? Maybe if you bought years ago, but my frustration is high right now with yet another silver tumble.
Unfortunately I didn't get in on the PMs in 2003 (young and dumb), I'm a small-time latecomer who bought physical around the 35-40 mark before the previous silver massacre in May. I survived that (stayed in) but support for the white metal has been lacklustre at best since then. It never reached its May $49 high again, and didn't get much of a boost from Gold's big August upturn either. Not very encouraging. My faith is waring thin (see my dummy-spit in a previous comment) and I'm kicking myself for not bailing out when I had the opportunity at 40-43 in early September.
I look at my gold/silver sometimes and wonder... is this (tiny) little pile of raw metal actually worth a car? Or a university degree? or 6 months salary for us "regular" folk? Hmmm.
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Beginning of the headline :
The English-language media seems to be of one mind on Europe in general and Greece in particular: the system is toast, and a series of sovereign defaults leading to either a fundamental restructuring or failure of the Eurozone is inevitable. But that's not the universal view on the Continent...
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chers Vladi,il est lor, oui, effectivement, et alors ? un fonctionnaire crée de la richesse ? creuser des trous crée de la richesse ? si nous arrêtions, pour voir, de payer nos impôts, vos 55, fonctionnaires compris, font quoi fin du mois ? merci d'expl
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- 20/04/2013 à 20:03 GMT
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