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Been working, not done

IMG Auteur
Published : May 10th, 2010
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Category : Editorials

 

 

 

 

In the middle of researching/writing another big entry on the European Central Counterparty Limited (EuroCCP). Nearly done, but I need another day.

It isn’t much, but for now here is a chart of the Swiss Franc VS the dollar since 1990. The Gold below represents the gold lease rates (higher the lease rate, the more gold is being borrow and sold by bullion banks).

 

 

The chart clearly shows how funds from the sale of borrowed gold were used to prop up the dollar during the 1990s. The chart also clearly shows what happened after that gold ran out: a six year dollar rout (2002-2008).

 

Eric de Carbonnel

 Market Skeptics

 

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