by Kenneth Schortgen, The Daily Economist:
Contrary to popular belief, the world runs on more than just five primary currencies (Dollar, Pound, Euro, Yen, Franc). But because the U.S. still has control over the global reserve currency, the narrative often is that all other currencies really don’t count.
For thousands of years gold been both a balance and a check on the avarice of men and governments when it comes to purchasing power. And in a new report out this week, gold still continues to do so as 72 national currencies are now at, near, or above their all-time highs in relation to the price of gold.
Popular belief has it that gold prices have not performed especially well despite some egregious geopolitical and economic factors. Well measured in 72 currencies, gold is at … or within a few percentage points … of being at an all time high for people in those countries. Not on the list are the British Pound, the Swiss Franc, the Euro and Chinese Yuan – but we are not far off in all of those currencies too. Only in USD does gold lag – and not all of us live in the US. – Zerohedge
And here by the way is a list of these 72 nations and currencies.