Quote:
Originally Posted by bobabode
Refresh my memory, genius. When was it that you offered anything but barely comprehensible gibberish to any subject here? All I've seen is adolescent snark. Do you really operate your own business?
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By the way.
On Tuesday, the Nikkei fell by more than 610 points.
In Argentina, the price of gold rose about 28% in the first month of this year. In the meantime, the price of gold in euro’s and dollars rose about 5%. The big difference is the result of a devaluation of the Argentine currency, the peso. The devaluation is unfortunate for savers, because they saw the real value of their savings decline. The gains are for the debtors, whose debts in real terms went down by the same amount.
Argentinians who converted their savings into gold were barely harmed by the devaluation of the currency.
The graph below shows the goldprice in six different currencies: the Russian ruble, the Argentine peso, the Turkish lira, the eur, the Indian rupee and the Sout-African rand. As you can see most of the emerging market currencies lost value compared to both the euro and gold.