Gold prices on Tuesday surged to an all-time high after India’s central bank bought 200 tonnes of the precious metal, swapping dollars for bullion as the country’s finance minister warned the economies of the US and Europe had “collapsed”.
India’s decision to exchange $6.7bn for gold equivalent to 8 per cent of world annual mine production sent the strongest signal yet that Asian countries were moving away from the US currency.
Wednesday, November 04, 2009
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2 comments:
Capital is a force of nature.
It exists BEYOND national forces, and beyond political forces.
We act as individuals, societies and nations before it as we would for an avalanche, earthquake, or plague.
When you START a force of nature in motion by artificial means, there will always be other consequences
I hadn't quite thought of it that way, but you're right.
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