Monday, October 12, 2009

Gold Could Hit $2,000 Over Next Decade Jim Rogers to Bloomberg

Commodities Guru Jim Rogers, chairman of Rogers Holdings, told Bloomberg that gold could rise to $2,000 an ounce over the next decade he also talks about commodities, including gold and oil .
(Source: Bloomberg)





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Is the dollar done as reserve currency? Banks shift to Euros & Yen. Investors to Aussie and loonies Greenback down

Dollar Reaches Breaking Point as Banks Shift Reserve


Oct. 12 (Bloomberg) -- Central banks flush with record reserves are increasingly snubbing dollars in favor of euros and yen, further pressuring the greenback after its biggest two- quarter rout in almost two decades.

Policy makers boosted foreign currency holdings by $413 billion last quarter, the most since at least 2003, to $7.3 trillion, according to data compiled by Bloomberg. Nations reporting currency breakdowns put 63 percent of the new cash into euros and yen in April, May and June, the latest Barclays Capital data show. That’s the highest percentage in any quarter with more than an $80 billion increase.
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Click here to Watch Steve Forbes Discusses U.S. Dollar, Economic




Dollar Skeptics Buy Euro


Interview and discussions with Marvin Barth of the Tennenbaum Capital Partners. He talks about the dollar market. (Bloomberg News)

Is gold a commodity or a currency .Gold at $1,500 is inevitable

Gold at $1,500? Don't hold your breath


Is Gold a commodity or a currency? It certainly fits the definition of a commodity: A substance of value, with a uniform quality produced by many different producers.
By Garry White
Published: 6:13PM BST 11 Oct 2009
However, unlike other commodities it has relatively few uses other than as an ornament. Copper is used in wiring, iron is used to manufacture steel but gold's main uses are – and always have been – as a store of value and as a way to demonstrate personal wealth. Even if solid gold bathroom taps are not to your taste, they certainly make a point.

This means that gold really should be considered as a currency – and nothing else. This brings us on to the subject of fiat money.

Fiat currencies are not backed by gold. When most currencies were on the gold standard, a unit of currency could be exchanged by central banks for a fixed weight of gold. That way, paper money could be used instead of using gold or silver coins.
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