Skip to main content

quote:
$105 per barrel oil. Cotton prices at record levels. Food prices at 2008 highs. Typically, such commodity price increases would send central banks running to the U.S. Dollar to secure the value of their savings. After all, the dollar has been the reserve currency since World War I.

But not this time.

Central banks are shedding dollars [DXC1 76.36 -0.125 (-0.16%) ], reducing their holdings by about $9 billion in previous quarter, according to Nomura Securities� Jens Nordvig, global head of G10 FX Strategy.

What are they buying instead? Gold [GCCV1 1416.70 -9.50 (-0.67%) ].

The yellow metal hit a fresh record high this morning, while the dollar index dropped to a 15-month low.


http://www.cnbc.com/id/42250806

We would be wise to keep an eye on this. If this continues we are in deep trouble.

Run Sarah Run

Original Post

Replies sorted oldest to newest

quote:
Originally posted by JimiHendrix:
CNBC is a poor source of information. When Beck is right you will know for sure that it is the end of the world.


No offense intended, but you seem so god dang stupid that you need an instruction manual to breathe. Do you live in a "home" where you have plenty of help with the basics like eating and wiping your ass?I hope so.

Add Reply

Post

Untitled Document
×
×
×
×
Link copied to your clipboard.
×