The Turkey Iran gold for energy trade shows the benefits of gold. While not a productive asset, it can create much employment, preserve wealth and has important monetary uses – especially in times of crisis. Gold is becoming an essential means of payment again in the Middle East again. We expect to see this trend continue in the coming months as competitive currency devaluations are pursued by nations globally in order to prevent deep recessions and depression. In time other large energy exporters such as Russia and Venezuela may take payment for their oil exports in gold. Those continuing to simplistically call gold “a bubble” have yet to realise how gold is becoming money again. As doubts grow about the euro, the dollar, the pound and fiat currencies internationally we expect currency devaluations and currency and gold wars to intensify. Gold is going from a fringe investment asset to a mainstream store of wealth held by prudent individuals, institutions, banks and nations. Obama Likely To Approve Gold Sanctions on Iran As Currency Wars Escalate(Zerohedge grammar, typical... but you get the point.)
Wednesday, December 12, 2012
The high cost of the destruction of America's economic language for the sake of banksters....
The trend:
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