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Is there money that is not subject to government devaluation?

*Dow Theory Letters, by Richard Russell, January 8, 2008

“Shocker! The Financial Times (they own the anti-gold Economist magazine) has been anti-gold for as long as I’ve been reading this great newspaper. But today I opened the paper, blinked, and rubbed my eyes. The lead editorial in the today’s Financial Times in big black letters reads, “Gold is the new global currency.”

And it’s true. There are now three reserve currencies. Two of these currencies consist of fiat paper that can be manufactured at any time in any quantity at the touch of a button. The two are US dollars and euros.

The third reserve currency is gold. Gold is the ultimate reserve currency, the only one that defies being manufactured or printed by a central bank.”


*This information is solely a highlight of the opinion of a third-party publication and is incomplete.  Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

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