Hardly an unexpected news flash: Iran has announced it would replace the dollar with the euro in foreign transactions and state-held foreign assets, in an apparent response to mounting US pressure on its banking system.
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Aaron Krowne of AutoDogmatic.com notes: “If base metal values continue to increase by 5% per year on average, and the dollar continues to depreciate by about the same, then in about 26-1?2 years, a nickel will be worth a dollar in inherent value. If the rates are 10% per year, then in a bit over 13 years, this milestone will be reached.”
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Readers Sean M. and Scott D. both suggested this thought-provoking piece: “The US is Insolvent” by Dr. Chris Martenson (author/editor of The End of Money), posted at Jim Puplava’s Finanacial Sense web site.