Gold $7.04, the British pound bumping up against $2.03. Is the system settling for a controlled skid?
UPDATE
A day later, gold is up another 1%, (or would that be, the dollar is down 1% against it?), the pound is marginally nearer $2.03, and the Dow is rising.
2 comments:
I have bought my share of gold last year, but I'm also holding a lot of those worthless dollars.
If you're holding a *lot* of dollars, then most of us overtaxed and overcharged Brits won't know whether to pity or envy you! But the foreign exchange people are, no doubt, keen to help you out. Which currency would you rather hold? Do you think a gold currency will reappear, or will the gold dinar turn out to be another krugerrand?
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