The International Forecaster
By: Bob Chapman
Saturday, Sept 24, 2010
The struggle over the past 16 months between the US dollar and gold to represent the world reserve currency has already been won by gold. The dollar is fast on its way to being dethroned as it looses momentum in trying to maintain its place in history. Historically all fiat currencies have failed and there have been no exceptions. For the past seven years the Federal Reserve, in order to stave off the strong undertow of deflation, has continued to create colossal amounts of money and credit. That has continued to depreciate the dollar versus gold and other major currencies.
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