Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Gold Beat Every Currency but the US Dollar in 2014

  by    2   1

World currencies lost a lot of value in 2014. If you lived outside the United States, you would have done much better holding gold rather than local cash this past year. Check out this chart from The Market Oracle:

14 12 31 gold beat currencies

Eventually the Federal Reserve will be unable to artificially prop-up the US dollar. When that happens, we need only look around the world to see what life will be like. Russia is the most dramatic example this year. Consumer prices there rose 11.4% in December alone! As Bloomberg reports, “Russia’s currency lost 44 percent this year, the second-most in the world after Ukraine’s hryvnia.”

Nearer to home, news broke yesterday of an official recession in Venezuela, which is also experiencing terrible inflation. “Twelve-month inflation reached 63.6% in November,” CNBC reports. Venezuela’s pain is largely due to the crash in oil prices.

Americans remain oblivious, believing the US economy is safe from the scourges of an international currency war. Of course, the strength of the US dollar remains a byproduct of the Fed’s money printing and zero-percent interest rates. The mainstream media and government maintain that inflation remains subdued in the US, which is officially 1.3%. But cracks are beginning to show in this narrative.

The latest data show that US rents rose about 3% this year and that more and more people are renting. The amount paid by US renters is up nearly 5% compared to last year, with total rental households increasing by 2%. Meanwhile, homeownership fell to a 20-year low in the third quarter of 2014. Forecasters see rents increasing 3.5% in 2015.

Rents aren’t the only major element of an American’s budget that is inflating much faster than the official measures. Food costs have also been climbing all year. The latest official data shows that food inflation in November 2014 reached 3.1%.

Screen Shot 2014-12-31 at 11.54.56 AM

If you live outside the US, you certainly want to get into gold before its too late. For Americans, now might be the time to harbor some of your savings in the yellow metal before the currency war catches up to us.

Get Peter Schiff’s latest gold market analysis – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning more about buying physical gold and silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!


Related Posts

Fed Minutes Show No Sign of Backing Off Monetary Hail Mary

Don’t expect the Federal Reserve to pull back on its monetary Hail Mary anytime soon. The central bank released the minutes from the June meeting yesterday. There were no big surprises, but they did reaffirm the Fed’s commitment to continuing its unprecedented monetary policy into the foreseeable future.

READ MORE →

Citibank Joins Mainstream Gold Bulls Forecasting Record Prices

Citibank has joined other mainstream gold bulls calling for record gold prices. Citi raised its gold price forecast this week. It now projects a three-month price of $1,825 per ounce and for the yellow metal to head into record territory in 2021. Citi analysts expect gold to eclipse the $2,000 mark early next year.

READ MORE →

Which Corporate Bonds the Fed Has Bought So Far?

Earlier this month, the Federal Reserve announced it would begin buying individual corporate bonds. Now we have our first glimpse at what that means in practice. On Saturday, the Fed released a disclosure statement that lists the bonds purchased by the central bank.

READ MORE →

More Mainstream Bullishness for Gold

Earlier this week, we reported Goldman Sachs now forecasts record gold prices within the next 12 months. Well, Goldman isn’t the only mainstream player turning more bullish on gold.

READ MORE →

Goldman Sachs Eyes Record Gold Price in Next 12 Months

Even the mainstream is getting bullish on gold. Goldman Sachs now forecasts record gold prices within the next 12 months. Goldman analysts say gold will likely reach $2,000 per ounce within the next year thanks to ultra-low interest rates and concerns over currency debasement.

READ MORE →

2 thoughts on “Gold Beat Every Currency but the US Dollar in 2014

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Call Now