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The one currency that soars while all others plunge
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Monday, June 29, 2009
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By Chris Weber in DailyWealth:

Even though gold has been in a correction during these last few months, it is important to step back and see how it has out-performed every other currency since this decade, century, and millennium began.

I first recommended gold and gold stocks back in February 2002 because the trend I saw of currencies cheapening themselves against their trading partners. You can call this "competitive devaluation." This had not been seen since the Great Depression, and to me, even back then, was a signal that the world economy was heading into tough times.

Since about 2001, whenever any currency rises too much, the local manufacturers or farmers - or anyone who lives by exporting - start to scream about it. Their local governments respond by doing all they can to lower the value of that currency, having it fall in value and thus making exports cheaper, all this in the hope that the domestic economy will become better.

...But there has been one money that has benefited from this huge trend. Moreover, it has benefited by giving profits of hundreds of percent -minimum - to anyone on Earth who has owned it since 2000...

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Topics: Gold | Inflation | Currencies
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