Wednesday, October 22, 2008

New GoldMoney Commentary: Gold's New Highs vs Most Currencies

James Turk's latest GoldMoney commentary is now available on his website.

Check out the charts of gold vs. other currencies - it really took me aback. As down as we all are on golds recent performance, it's important to realize that gold's performance is disappointing in US dollar terms. It is holding up relatively well in comparison with other currencies.

The US dollar is on an absolute tear right now, as we discussed this morning. It could go on longer than we all think - for me, it already has.

But all of the cash that has recently been added into the system is going to show up somewhere, someplace. Deflation rules the current day - but once the velocity of money picks up again, we could see a very rapid switch into hyperinflation.

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