careful not to step in a pile of it
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Gold Tells a Shocking Story in Venezuelan Currency Terms
video Gold's performance in Venezuelan-Bolivar terms comes as a shock to those who blithely assume that the yellow metal is a good hedge against hyperinflation. This isn't to say gold hasn't put up a valiant effort. It has risen 10,700% in Bolivar-denominated terms since the end of August, according to Bullion Rates. But it still hasn't come close to keeping up. According to Claude Erb, a former commodities and fixed income manager at TCW Group, the real price of gold in Venezuelan currency terms has fallen more than 60% over the same period. Erb argues that we shouldn't be surprised by gold's falling short. In a ... (full story)
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- bulltrap
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We must learn who is gold, and who is gold plated
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- perma-bull
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