Quote:
Originally Posted by Frank21
Also since the EURO is creating money out of thin air despite all the lies that the EURO would NOT create money out of this air will result in a lower EURO.
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10,792.8 metric tons of gold is worth about ?315 billion at today?s prices. The European Central Bank publishes ?M1,? which includes all the paper bills and coins in circulation and all overnight deposits at the European Central Bank. M1 as of November 2010 (the latest report) was ?4,683.5 B meaning that their currency is only 6.7% backed by gold.
You are right, USD have oil on his back, EUR have tiny gold support.
I think EUR cant rise above anytime soon...