Excellent previous post (149) btw. I had no idea the Central Banks had been dumping gold prior to 2008 and indeed many of the gold experts predict a rally. I’ll admit I don’t much about gold but I’d like to know what cbk does in with its gold reserves. Do you know? What’s it function in the Kenyan context?
One shouldn’t support a one world currency until the fiat currency is changed, but, I also used to remember many of the historians citing the ways in which gold could be manipulated. I had read the story about the French cashing in their gold for dollars in the 70s (post 150) and it sounds like it could happen again (considering what you said about the increase in money supply and gold reserves as well as the current banking system).
The gold debate has also been a big one amongst the group of economists/financial experts who belong to the Austrian school and some see it as one of the most viable options in reforming the monetary system. One of the experts I’m currently following is John Kutyn and he’s also advocate for a gold-based currency:
http://www.gold-eagle.co...als_08/kutyn082509.html I had read a book called “Confessions of an Economic Hitman” by John Perkins and he gave an interesting perspective of the ‘petroscam’ that accelerated the dollar role as the reserve currency and may give us. Also stumbled onto a blogger who had an interesting view:
http://macromarketmusing.../10/more-on-dollar.html karanjakinuthia. I appreciate the effort you put into your posts and pray that you’re encouraged by the rest of us to continue sharing your knowledge.
“We are the middle children of history man, no purpose or place. We have no great war, no great depression. Our great war is a spiritual war, our great depression is our lives!" – Tyler Durden