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The hyperinflation of a currency is typically described as an event, as if one day everything is normal and then the next day hyperinflation is manifest throughout the economy. This description explains, for example, how the hyperinflations that destroyed the currencies in Germany in the 1920s, Serbia in the 1990s and Zimbabwe more ...
Euro strength continues to astound, especially given the absolute lack of fundamental change or political will to resolve the underlying issues of insolvency, excess debt and chronic deficits in many countries within the eurozone, and certainly not limited to those in the euro-periphery. The EURUSD is now approaching $1.36, a 12-month ...
Precious metals and commodities enjoyed another up day yesterday, with steady but unspectacular gains. Global equities are hitting levels not seen for four-and-a half years as investor confidence grows. Sales of Silver Eagle coins in America have surged to an all-time record high this month. (Chart courtesy of ZeroHedge) We’re ...
Happy New Year! 2012 saw yet another year of gains for gold – the twelfth in a row. Silver also recorded gains across all major currencies, in contrast to 2011, when it appreciated against just the Indian rupee across the calendar year. We’ll be publishing a new James Turk article later today analysing the metals’ 2012 ...
In the summer of 2011, as the United States government approached its supposed “debt ceiling”, there was a raucous debate in Washington. The highly publicised (and politicised) nature of the battle captured the market’s attention and cast a spotlight on American profligacy. It also clearly showed that there was no ...
As 2013 approaches, the market continues to wait and see how Washington will handle the impending fiscal cliff. The cliff refers to a combination of tax hikes and spending cuts that are scheduled to go into effect in the United States next year. There is pressure coming from Democrats, Republicans, and various interest groups for Congress ...
The gold price has encountered selling resistance at $1,650, while the silver price is still being pegged below $30. Though fears about the US going to war with Iran are growing, crude oil prices slipped yesterday on news that the European Union will not embargo Iranian crude for another six months, in order to allow countries such as ...
More downbeat economic news from Europe yesterday sent the euro down to $1.2790. As The Wall Street Journal points out, this is the single currency’s lowest level against the US dollar since September 2010, following the initial turmoil in European sovereign debt during the spring and summer of 2010. Sentiment remains uniformly ...
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