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Ukraine Currency Collapses Nearly 70% Against Gold In 4 Months
The euro, the dollar and the pound have been three of the stronger currencies in the world in recent months which has curtailed gains in precious metals in these currencies. This has not been the case for emerging market currencies many of which have fallen sharply and gold has risen correspondingly in value.
Thus, gold has again acted as a safe haven for millions of investors and savers around the world and protected them from the declining value of fiat currencies.
Gold in Euros - Jan, 2009 to April 17, 2014 - (Thomson Reuters)
This is particularly evident in Ukraine where the economy is nearing collapse and the currency is in free fall. The Hryvnia has been the world’s worst performing currency in 2014.
The charts below gives an indication as to the terrifying magnitude and speed of the recent decline in the value of the currency. Last week alone the currency fell by 7% against gold or gold per ounce has risen from 15,669 hryvnia per ounce at open on Monday to 16,880 hryvnia per ounce at the end of the week.
Gold in Ukrainian Hryvnia (Sharelynx.com)
Year to date, gold in hryvnia has surged by 69% from 9,992 per ounce to 16,880 per ounce or to put it more correctly, Ukraine’s national currency has collapsed by 69% against gold in less than four months.
This has resulted in the cost of food, fuel and basic staples surging for ordinary people in Ukraine.
People are buying gold, silver, other hard tangible and income generating assets.
Goldpriceticker.com
Once again, the lucky few who own physical gold are being protected from the currency collapse. They are in a position to buy food, water, property, land, businesses and other income generating and life sustaining essentials.
Thereby, once again showing the lack of knowledge and sometimes simple bias of those who claim that gold is not a safe haven and discourage investors from having even a small allocation to gold.
Gold is protecting people and companies in Ukraine today. It will do the same for people and companies in other countries in the coming months and years.
Singapore is now one of the safest places in the world to store gold - Essential Guide To Storing Gold In Singapore
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Don't worry lil' fellers. Pallet loads of dollars are being C5'd in to the provisional US commander on ground. They will be divided between Academi, Mercenaries, Brown n Root (new name?), suppliers of bourbon and scotch and vodka, affiliated intelliigence services, fanatics, satanists, oil companies, local specialty contractors, money exchangers (we need Rubles to pretend we're russian). Turkish actors will complete transfers of Bengazi arms, other arms dealers, bribe money for local street bosses. About half will be put back on a plane to Florida, Texas, and South America. Half of that will disappear.
Thus Ukraine will be on the Dollar system. The Ukraine money will be used for prostitution, drugs, paying greiving widows, and the local police becoming virtually worthless.
They'll be relieved that the New York Fed has all of the Ukraine's gold now, keeping it safe. They still have some gold to back up their great national struggle and they can lease it out for some much needed dollars.
"This means War!"
Can you guess who said this?
1) Ulraine's General molotov;
2) Ukraine's Admiral Mustard; or,
3) Ukraine's Central Bankers.
Somebody is channelling gartman again?
My Ukraine money is no-good? So I go Rubble since dollar is already collapsed already !
Only people happy in Ukraine are the junkies
When I get to the border who should I bribe first?
The real question is how is the Hryvnia worth anything at all today? Does anybody have any confidence in the Kiev regime?
Yes, the hryvnia has collapsed versus gold, but the piece would be more persuasive if it did the math correctly. At the start of the year 10,000 hryvnia bought 1.0008 troy ounces of gold (10,000/9,992), and now 10,000 hryvnia buys .5924 troy ounces (10,000/16,880), so the currency has collapsed 41% (1-(.5924/1.0008)) in four months versus gold, not 69%. Lucky Ukrainians!
If gold has surged by 69% against UAH as indicated in the text then UAH cannot have collapsed by around 70% against gold as indicated in the headline. If gold had doubled (+100%) then UAH would have halved (-50%). If gold is up 69% then UAH has moved by (1/1.69) - 1 = -40.8%.
Yep, it's the NEW NORMAL
https://eradica.wordpress.com/
Gold IS today's new black
But his is the new "Common Core" math. Seriously have you seen it. There are no wrong answers. LOL
Common core does seem to be overly laborious for older people who understand math, but the idea is to encourage critical thinking by breaking down math problems into visual tools. I have no idea what you mean by "no wrong answers".
Yeah, I don't get it either, but "Common Core" has become a meme in the right-wing media. All manner of made up silliness is attached to the phrase, as part and parcel with the attack on public education, and the fact that teachers get paid something approaching a living wage.
Yes, elementary education is infested with fads. Early reading and math are particularly prone to novel approaches. The math portion of "Common Core" is a particular target. Apparently one of the new, faddish approaches to basic subtraction is analagous to making change, where you subtract the dollars first, then settle up the cents. Something like that. It doesn't make much sense to my rote-drill-taught sense of subtraction, but since some kids have trouble learning it, what the heck, I say.
It's been turned into the next Agenda 21; proof that devious forces are hard at work not teaching kids how to subtract, but subverting America. It's really silly, and like most really silly things, radio talk show hosts just won't give it up.
Meanwhile, elementary school kids are overwhelmed by their math problems. In some cases, their teachers are now giving them a pass if they can explain how they arrived at their answer, even if they get the answer wrong.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=100950491
huh?
funny how invasions and occupations do this to your money. Just ask the US South during the Civil War. Still...Confederate Currency is quite valuable today...if you can find it.
Ironic..."people pay top dollar for money that was totally worthless from Day One."
Perhaps we'll be saying the same thing about the Ruble too. Can't speak for the Hyena...other than to say "that's some very valuable land...covered with railroads, with access to one of Western World's most important ports and the backstop to the Eastern Empire.
A stark reminder that Gold is the Ultimate Insurance Policy and only physical gold can do it. In this case, at least you have a fighting chance. Get gold as insurance that you control that is out of the system.
a willingness to fight for your property and your trade rights doesn't seem to hurt either.
Gold or USD. There are some influential people out there that won't let USD collapse against gold.
Hehehehehe. Sorry guys. I couldn't resist. Flame away.
up one for making me laugh!
PT. You forgot something.
/s
Fixed it.
And Ukraine has been robbed of its gold by corrupt western bankers.
I can't believe that those oligarchs and leaders of that country allowed their gold to be transfered (essentially taken) for any collateral that the west want it to be. These poor fools gave up their nukes, gave up their gold and are now being left out in the wind because the US is Mission Creeping OUT of the situation that Obama put himself in because they are seeing there is no way to win this. So what they have left is a bunch of Nazi's thinking that they have the backing of the west but with no money and no gold and soon no gas. They will be going at each other to get some money to make a run out of the country when pro-Russian politicians are back in power.
meh. if Ukies can't guard their own friggin gold they deserve to lose it.
https://eradica.wordpress.com/
They want us to Send in the US Marines and spend our gold.
While they save theirs..
How much did it collapse against Bitcoin?
Not a BIT !! LOL