...bout the state of the world #economy: Gold breaking above $2000 for the first time is a watershed moment for gold bugs such as Peter Schiff. https://www.zerohedge.com/markets/schiff-people-dont-understand-significance-2000-gold In his thesis, the flow of #money into gold means the dollar is under stress as a currency, and its reserve status is in jeopardy. But what Schiff overlooks is the movement of gold against other fiat currencies. They all show similar movement of similar magnitude over the past year. Dollars are not being exchanged for gold at dramatically different rates from Yen, Euros, or Yuan. The Yen: https://www.xe.com/currencycharts/?from=XAU&to=JPY&view=1Y The Euro https://www.xe.com/currencycharts/?from=XAU&to=EUR&view=1Y The Dollar https://www.xe.com/currencycharts/?from=XAU&to=USD&view=1Y The Yuan https://www.xe.com/currencycharts/?from=XAU&to=CNY&view=1Y The flight to gold, therefore, is a crisis of confidence in ALL the world's currencies. Fiat currency is losing credibility, which means it is losing legitimacy. When that legitimacy is gone, the final economic collapse and reset will begin..
