Many Thanks To Xi S1000+
>From Xi: . This is what changed few days ago. It might look tiny, and probably it was not the intention of India. But the real consequence of this action equates to what Charles de Gaulle did when claimed for France to the US treasury the amount of gold that their US dollars into their foreign reserves state their have the right to claim. That action released the end of the US dollar supremacy, formally. Last summer, most central banks declared the actual end of US dollar supremacy when the chose other currencies for their fresh foreign accounts surpluses. India, just declared now that its vote is toward gold. India counts a lot, more or less as much as China, Saudia or others. (quote) Barack Obama and Timothy Geithner must be as annoyed as they are bewildered. Didn’t India get the memo? Developing nations are supposed to keep their excess cash in Treasuries, the U.S. president and his Treasury secretary are no doubt thinking. Gold? That relic of the past that doesn’t pay interest or dividends and can’t be eaten? India Shows Hedge-Fund Savvy With Huge Gold Buy: William Pesek http://www.bloomberg.com/apps/news?pid=20601039&sid=ae2wslm0YHgc Yes, gold, the same standard reserve currency we have since 4500 years ago, the same international standard of trade that we had since 5000 years ago, the same refuge of last resort that we have since human beings record their actions, the same type of coin that Sumerians invented 5000 years ago. Maybe gold will not be the standard reserve currency in the future. But this action has proved that there is life beyond the US dollar, and that life has at least one name (if not more). Peace and best wishes. Xi ======= S1000+ ======= --- On Thu, 11/5/09, xi <[email protected]> wrote: --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/world-thread?hl=en -~----------~----~----~----~------~----~------~--~---
