Saturday, May 26, 2007

Looks Like They've Already Picked Out A Headstone For The US Dollar


“In the coming years, monetary authorities will find it more and more difficult to maintain confidence in paper money,” said our very own Dan Amoss. “The ultimate destination of the almighty U.S. dollar will be no different; it’s only a matter of time before this currency makes its way to the museum.”
Dan was responding to Bank of Canada chief David Dodge’s comments earlier this week. “It is possible there could at some point be a unified North American currency similar to Europe’s euro,” said Mr. Dodge. (Is Mr. Dodge reading our commentary, too? Geez. We’re flattered.)
“In Dodge’s worldview, we might as well eliminate the entire idea of sovereign countries,” chimed Dan. “Heck, it would be easier to tinker with a unified world currency than implement his ivory-tower monetary policies under the current monetary system. Dodge would probably have some tough competition from Ben Bernanke for the job of ‘global central banker.’”
These people make the decision to buy and hold gold pretty easy.

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