Australia just fired a serious shot in the currency war by cutting its overnight lending rate to a record-low 2.25%.
With the aussie as a result
tanking, local holders of bank accounts and cash are quite a bit poorer
than they were at this time last year. But owners of gold are doing just
fine. While the metal is falling again here in the US (which is at the
moment trying to withdraw from the currency war), it’s up about 20% in
the past three months in countries like Australia that are on the
offensive.
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