Tuesday, March 31, 2009

G20 Fizzle

There has been some talk about a "new world order" in the G20 meeting going on now, specifically around the replacement of the dollar as the worlds reserve currency with a new global currency. One wonders what there is for sale this world currency could buy; what there would be that backs its value other than fiat currencies themselves. Anyways, from what I've been reading it does not sound like these talks have progressed very far, and unlikely will by meetings end. Otherwise there is empty chatter around the current global downturn, and some welcome discussions of anti-protectionism, that unlikely will make much difference.

With talk of a new world order, gold has been doing okay. The dollar I anticipate will recover after the meeting closes.

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