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Gold Makes Triple Digit Moves, Global Currencies Decline
As countries around the world with unwanted strong currencies move to cheapen them by printing more money, slashing interest rates, or just "talking" them down, investors are left with a key question: Just what are those strong currencies declining against?
If your answer is "against the currencies of their main trading partners," you are partly correct. But those declines are only temporary. If strong-currency countries are successful in their devaluation efforts, then their counterpart countries – their trading partners who don’t want their own currencies to go too high – will at some point launch a similar devaluation initiative.
It has…
24Jun2009 | Money Morning | 1 comment | Continued
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