Thanks Grampa Dave, and that is an interesting question isn’t it.
For all the carping about the dollar though, it’s still a very respected currency. Where else are you going to go?
If the U. S. goes, there isn’t a currency on the planet that would be worth a darn.
Thanks for your comments below. They might give us a hint to who might be happy selling gold/silver for our ‘loser’ $’s.
“For all the carping about the dollar though, it’s still a very respected currency. Where else are you going to go?
If the U. S. goes, there isn’t a currency on the planet that would be worth a darn.”
It seems that whenever there is a potential or real financial crisis in Europe or Asia, there is a rush into our bonds and certain financial markets like ETF’s for bonds, and the new high dividend/low votality ETF’s. The later have been excellent to own this past year and in particular YTD. Besides producing excellent dividends, far better than most bonds. Many of these high dividend/low votality ETF’s have YTD $ increase from 10 to 15% YTD.
So, who owns the gold seller outfits wanting the ‘loser$’s’ or their gold/silver?
It could have been until the past year, a good deal for someone swapping foreign currencies losing their value into $’s, then buying gold/silver and then selling it for $’s based on the increases in Gold/Silver Values. That profit goes out the window when Gold/Silver prices tank as they have. Any foreign banks trying to hedge on their devaluing currencies would have gladly taken $’s for any gold/silver they had bought until the last year or so.