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Subjective value and currencies
“The issuer’s promise” is a phrase I have used recently to describe the backing for fiat currencies.
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“The issuer’s promise” is a phrase I have used recently to describe the backing for fiat currencies.
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Gold, traditionally a safe-haven asset, has been moving in tandem with riskier assets such as equities, industrial metals and oil this year, as investors for some reason which is difficult to fathom, have turned to the supposed “safety” of the dollar.
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It may not seem like much happened yesterday, but a very important event occurred.
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As we go through the first significant pullback in the market for 2012, the dollar seems to be at a turning point that should influence market trends for the next few months. Going all the way back to 2002, there has been a strong inverse correlation between stocks and commodities, and the U.S. dollar.
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In our previous essays, we emphasized that the long- and short-term trends for gold are up.
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he Jobs Jamboree on Friday didn’t turn out to be as robust as the “experts” forecast, as jobs created totaled 103,000 far less than the 170,000 that was forecast