Friday, October 26, 2012

Gold and Currencies

Central Banks around the globe are printing money in order to keep their economies competitive.

This is a zero sum game. While there may be immediate benefits, sooner or later, the value of those currencies will go to zero. That is, no matter how much of the fiat paper/digital stuff you turn up with to buy assets, you won't be able to.

Hyperinflation is the printing, value loss is the complete breakdown in confidence in fiat currencies that ensues.

At this stage holding assets in any form is the best scenario. Historically, gold is the best asset to own.



Gold in New Zealand dollars: $2083.58 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $39.11 per oz
Previous all-time high: $59.19 per oz (30 Apr, 2011)
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