from Gold Core:
Gold has risen to near record highs in many currencies internationally. Bullion is again acting as a safe haven for people throughout the world whose currencies are devaluing and for those who are fleeing instability, terrorism and war.
Gold is not reaching record highs per se, rather these paper currencies are losing their value or are being devalued. People throughout the world who own safe haven gold are, again, protecting their purchasing power.
Yet you would not know this looking at the many negative headlines and sentiment surrounding gold. Our Western-centric views lead to a simplistic focus on gold solely in dollars, euros and pounds. For most of humanity, gold’s price in dollars is irrelevant. What is relevant is gold in their local currency terms.
The gold charts from Nick Laird’s excellent www.sharelynx.com clearly show this important and little known fact.
People in all continents of the world are being protected by owning gold. People in the Ukraine in Europe, in Syria in the Middle East, in South Africa in Africa and indeed, in Brazil and Argentina in South America are all seeing their currencies devalue rapidly as competitive currency devaluations and currency wars intensify.
The direct experience of these people – both historically and today – clearly shows gold’s importance as financial and monetary insurance. The terribly sad scenes of desperate refugees and economic migrants trying to access our wealthy European shores and nations is a tragedy of biblical proportions. Indeed, it has parallels with the tragic Jewish experience throughout history.
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