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Anybody seen where i put that lexicon?
Italy has a secret weapon called EUR/GLD. With the highest amount of gold holdings per capita in the world, Italians get richer with each tick down.
Somewhere around EUR 5,000/GLD, Italy will be the richest country in the world. I say that half-kidding and half-serious.
Someone commented earlier that EUR/GLD will backfire on Italy now that Germany and Europe have their sights on deflation. But a deflationary collapse in Europe would be a significant positive driver for gold.
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