Tuesday, September 8, 2009

Got Gold?

From the Telegraph.co.uk
UN wants new global currency to replace dollar

The dollar should be replaced with a global currency, the United Nations has said, proposing the biggest overhaul of the world's monetary system since the Second World War.
In a radical report, the UN Conference on Trade and Development (UNCTAD) has said the system of currencies and capital rules which binds the world economy is not working properly, and was largely responsible for the financial and economic crises.
It added that the present system, under which the dollar acts as the
world's reserve currency , should be subject to a wholesale reconsideration.

With this happening to the dollar it's not much of a surprise that gold is going up

Gold Rallies to 18-Month High on Dollar’s Weakness, Inflation

Sept. 8 (Bloomberg) -- Gold rose to the highest price since March 2008, passing $1,000 an ounce

Looking for the positive spin on all of this...
the rise in gold prices makes newly manufactured jewelry more expensive
which of course makes vintage estate jewelry an even better value

Just thought I'd mention it
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Sharon Rose said...

Wow, I wonder if this will truly happen?? Thanks for stopping by too!

Belle de Ville said...

Sharon, at least while the dollar self destructs, I'm glad that I can save money by buying vintage.

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