Post by
MaterialsMan on Sep 05, 2023 5:58am
Matter of time
In catching up with world news, I see that another fiat currency is in serious trouble.
Turkish banks are reported to be paying up to 45% interest, at the governments request, in an attempt to deter the transfer into dollars.
What I think this says is that the Turkish people have totally lost faith in their government and are turning to the U.S. dollar for salvation.
The dollar is turning into the last resort for many.
Countries that are trying to maintain there own individual currencies seem to be facing a loosing battle.
They missed a great opportunity at the BRICS conference to show the intention of shoring up their committment to adopting sound money.
It's probably just a matter of time before something gives. What that is, I have no idea. Everything is becoming conjecture.
I'd love to see gold become part of the picture.
Comment by
cleareye on Sep 05, 2023 9:00am
The US dollar is still the currency of choice for the troubled world. USD index up this monring, gold down. The dance continues, long into the night. cleareye.