You're Not Protected In Currencies
excerpt from interview with Greg Weldon, Weldon Financial

Not a Dollar Move
"More importantly in the bigger picture, when you take a look at gold prices in every currency in the world, it’s not a dollar move. Gold is gaining against every single currency in the world. The flip side is that every currency in the world is depreciating relative to gold because central banks are debasing money everywhere. That’s the bottom line when talking about gold. That’s what people tend to miss, tend to overlook, is what is really at the core of this. It’s kind of veiled, it’s kind of hidden, and no matter which way it goes, whether it is a successful hyper-reflation or whether it is a downturn to debt deflation, either scenario incorporates a lower standard of living. For example, [suppose] you bought a million dollars of Treasury bonds five years ago, versus buying gold at $450. While you got your money back because the bond was a “safe,” guaranteed investment, the million dollars you got back buys one-third the amount of gold it could have bought five years ago. That in a nutshell is the debasement of the currency at work. It is the lower standard of living at work. We’ve lived on this credit bubble for so long that the downturn is going to be very difficult to fight because we’ve become reliant on expanding credit. It’s not the right thing to do, it’s just because we’ve become so reliant on it now.

Gold is so attractive in the long term because this is a trend that is intensifying. It’s a trend that’s broadening, and the tentacles are reaching throughout the world in places that it has not reached before. You’re not protected in currencies, so for me on the longer term picture in gold still looks attractive even at these prices."