Wednesday 27 January 2016

A Banquet of Consequences - Good. Bad. Ugly...................................from Rico

Attached is a chart of the "increase" in the price of Gold by country since 2000.
- This "increase" is, of course, in terms of the local fiat currency (the prettily engraved claim checks on wealth backed by the full faith and trust of the government).
Put another way, Gold remained constant, but this is a very good "heat map" of tanking fiat currencies around the globe.
- Paper money becoming worth less, and eventually worthless? That wasn't supposed to happen according to St Maynard of Keynes and Central Bankers. [read: inflation]
Here are a few examples of how much LESS paper currencies are worth in relation to Gold since 2000.
a. The not so GOOD:
- Australia 258%
- United States 261%
- Canada 274%
- Hong Kong 281%
- United Kingdom 335%
b. The pretty BAD:
- Russia 1003%
- Syria 1080%
- Ukraine 1690%
c. The very UGLY:
- Serbia 3822%
- Belarus 5096%
- Argentine 5123%
- Iran 6447%
- Venezuela is completely missing from this list. maybe because their inflation (another word for what we're looking at here) is not just figuratively, but literally "off the chart?"

1 comment:

Quentin said...

Those fake gold bricks are marvellous doorstops.