Gold Bull Market Well Established in Many Currencies

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from Silver Doctors:

If they continue to try to suppress the price of gold on the paper markets, all that will happen is that the…

by Clive Maund of Streetwise Reports

We will start this update by looking at gold’s price measured against various important currencies. These long-term charts quickly make clear that gold is in a major bull market, which is another way of saying that these currencies are losing purchasing power.

Gold in Australian dollars…

Gold in Canadian dollars…

Gold in Japanese Yen…

Gold in Swiss Francs…

So we should clearly not allow ourselves to be fooled by gold not breaking out to new high against the U.S. dollar, especially given the Fed’s recent extreme profligacy involving the creation of trillions of dollars for the purpose of backstopping the credit markets, bailing out favored crony corporations, and paying countless millions of newly unemployed people to sit at home twiddling their thumbs, none of which can be classified as productive use of the money. All this extra money means that eventually there will be a lot more money chasing the same, or rather a reduced supply of goods and services, now that the economy is a lot less productive thanks to

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