Gold, page-9

I disagree, when currencies deflate gold wins. Timber, it is that simple. Passively holding a deflating asset is not a good strategy long term. I have learned from an early age to react to a falling currency by hedging against it. This means all the hedges, including gold, will find support. On a personal level, my dad has taken out several million dollar shorts to react to the falling ozzy dollar. The Ozzy dollar will fall if the RBA lowers rates. The Ozzy dollar will fall if the US raises rates. The Ozzy dollar will fall if commodities slump any further.

After last night's ECB decision, you must be either laughing because you did something about the Euro losing value or you are disappointed because you did nothing. However, I guess if one is not conducting business and is just retired in a country with zero rates then money was never an issue. Else, I think that's not all that has lost relevance.