As part of its ongoing “Race to Debase” competition, GoldSilver.com tracked how gold & silver performed against 164 fiat currencies in 2012. Approximately 94% of the fiat currencies lost purchasing power to gold and 96% lost purchasing power to silver.
The median loss of purchasing power against gold was 7% and against silver it was 8.3%. The best performers against gold were the Hungarian forint and Polish zloty, each gaining less than 5%. Among the 34 fiat currencies that logged double-digit losses against gold was the Iranian real, down 17.5%, and the Japanese yen, down 19.4%.
- Dow Jones 30,000 Trigger Leaked by 27-Year-Old Stock Research Firm CLICK HERE
- The Inevitable: Dow Jones 30,000 CLICK HERE
News & Views
MarketWatch/Reuters: Gold ends lower, logs first loss in three sessions; Gold down 1.2 pct as Fed minutes show doubts on QE, silver off 1.8%
USA Gold/Zero Hedge: Fed split about when to halt QE3
BullionVault/Dan Norcini: Gold, silver slip as fiscal cliff euphoria recedes; Commodity index back to where it started the year:
Seeking Alpha: Gold will trend higher in 2013; More good news for silver
GoldSeek: The case for Dow 20,000 and $2500 gold
Bullion Street: Turkey imports 120.78 tons of gold in 2012; China’s silver transition to continue
Mineweb: Dec 2012 American Eagle silver coins sales 3rd highest in history
KWN: James Turk – A Black Swan event, global monetary reset & chaos; Robert Fitzwilson – Gold & the frightening picture of our financial abyss
Jim Sinclair: The global derivative graveyard problem
Zero Hedge: The 96 charts that have to be seen to be believed for 2013; Two magazine covers to commemorate the end of the 112th Congress
Nouriel Roubini/Peter Schiff: U.S. has been let down by its leadership; Congress avoids the cliff by selling us down the river
Washington Examiner/Spiegel: How corporate tax credits got in the ‘cliff’ deal; Today’s American politics a ‘tiresome farce‘
Bull Market Thinking/NY Times: Ground vibrations in the gold & silver market; A Swiss region where the gold comes in solid and liquid forms
This entry was posted on Thursday, January 3rd, 2013 at 11:07 pm and is filed under China, Federal Reserve, General Economy, Gold, Monetary Policy, Short Sellers, Silver, U.S. Congress, Wall Street. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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