New or revamped currencies backed by commodities may well emerge among nations as the dollar becomes debased to the point of no return.
Austin, TX. (PRWEB) February 02, 2012
The current Absolute Wealth newsletter column, “The Gorrie Details” reported on "The Oil Standard" by James R. Gorrie. Jason Fielder and James Gorrie discussed the state of the dollar, the euro, and many other aspects of the world’s financial system, and published the findings in the Absolute Wealth newsletter and on the Absolute Wealth website.
Jason Fielder has been very successful in trading the Forex currency market for many years, and recently, been trading the EUR/USD currency pair, among others. When James Gorrie of Absolute Wealth asked what the “big plan” was for the Europeans to solve their currency crisis, Jason Fielder just smiled and said, time. This answer of Jason’s, meant that the European politicians were delaying making any decision on the euro, hoping that they could buy enough time for their economies to turn around, just like the U.S. strategy, adds James Gorrie on the Absolute Wealth website.
Jason Fielder remarks to James Gorrie of Absolute Wealth that the oil markets and the U.S. dollar will see problems, because the gold-for-oil transactions between Iran and India may well cause problems the currency markets and the U.S. dollar in particular did not expect. The world financial system is and has been, running not on a gold standard, and certainly not on the U.S. dollar either, as it is normally understood, the world is actually running on an “oil standard” James Gorrie of Absolute Wealth reveals in the newsletter. James Gorrie of Absolute Wealth explains that this means that oil and its price fluctuations, are driving much of the currency fluctuations and financial policies of the world.
Jason Fielder explains to James Gorrie of Absolute Wealth that the U.S. dollar values typically move inverse to oil prices in a way very similar to gold, when the dollar falls in value, gold rises; as does oil; and vice versa. Jason Fielder went on to add that there are some glaring exceptions to this, for one thing, oil is the commodity value holder that gold cannot be in the world, because there is a lot more oil in the world than there is gold. The Absolute Wealth newsletter James Gorrie explains that, unlike gold, oil plays a crucial role in every economy in every country in the world.
James Gorrie has said before in the Absolute Wealth newsletter “The Gorrie Details” column, that new or revamped currencies backed by commodities may well emerge among nations as the dollar becomes debased to the point of no return. To read more about this topic, visit the Absolute Website or better yet subscribe to the Absolute Wealth newsletter to receive the most up to date relevant information that provides the research and information required to make informed choices.