From Market Oracle
By Barry Elias
''Gold is on a path to become the next global reserve currency.''
''A macroscopic perspective of our global economy suggests the world’s
financial crisis was caused by an inordinate accumulation of debt
relative to GDP.
However, the excess debt relative to income was the result of fiat
currency regimes. These regimes are based on the faith and credit of
governing institutions, not physical capital reserves, and permit an
infinite amount of credit and undercapitalized debt formation.''
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