HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Misfit's Mignight Musing For September 24/25, 2008

hgs,

Interesting thought

Moving from currency to currency will bring profit in the short term but I'm afraid all currencies are now suspect.

I don't think we've ever had a situation like this before.

The whole world uses FIAT.

In the 'old' days, some countries switched to Fiat, others remained on the gold standard (the prosperous ones).

History shows us that, unless a country that has moved from the gold standard to fiat, returns to the gold standard, hyperinflation sets in and the currency becomes worthless.

This is why I believe we will see countries beginning to return to the gold standard.

Maybe the best we can do is selecting one country's currency over another is to determine who has the gold.

BK

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Post-war international gold standard (1946–1971)

Main article: Bretton Woods system

After the Second World War, a system similar to the Gold Standard was established by the Bretton Woods Agreements. Under this system, many countries fixed their exchange rates relative to the US dollar. The US promised to fix the price of gold at $35 per ounce. Implicitly, then, all currencies pegged to the dollar also had a fixed value in terms of gold. However, under the fiscal strain of the Vietnam War, President Richard Nixon eliminated the fixed gold price in 1971, causing the system to break down.

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The Vietnam war takes us off the gold standard! This is interesting because the US went to fiat after the Civil war. After the war was over, it returned to the gold standard.

Today, along with everything else, we have the Iraq and Afghanastan wars.



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