| Fiat Currency vs 1 oz Gold | 1-Jan-2000 | 1-Jan-14 | % Change | ||
| Emirati Dirham | 1,057.25 | 4,427.88 | 319% | ||
| Albanian Lek | 37,941.12 | 122,671.84 | 223% | ||
| Dutch Guilder | 480.96 | 2,136.96 | 344% | ||
| Australian Dollar | 440.23 | 1,352.63 | 207% | ||
| Barbadian or Bajan Dollar | 570.24 | 2,411.24 | 323% | ||
| Bangladeshi Taka | 14,567.04 | 93,556.11 | 542% | ||
| Bahraini Dinar | 104.26 | 454.52 | 336% | ||
| Burundian Franc | 175,936.32 | 1,844,598.60 | 948% | ||
| Bermudian Dollar | 271.30 | 1,205.62 | 344% | ||
| Bruneian Dollar | 477.79 | 1,522.45 | 219% | ||
| Bolivian Boliviano | 1,704.96 | 8,270.55 | 385% | ||
| Brazilian Real | 535.68 | 2,847.49 | 432% | ||
| Bahamian Dollar | 288.00 | 1,205.62 | 319% | ||
| Botswana Pula | 1,324.80 | 10,511.07 | 693% | ||
| Belizean Dollar | 573.12 | 2,399.18 | 319% | ||
| Canadian Dollar | 416.42 | 1,280.65 | 208% | ||
| Congolese Franc | 1,224.86 | 1,086,263.62 | 88584% | ||
| Swiss Franc | 459.07 | 1,076.55 | 135% | ||
| Fiat Currency vs 1 oz Gold | 1-Jan-2000 | 1-Jan-14 | % Change | ||
| Chilean Peso | 152,438.40 | 633,336.31 | 315% | ||
| Chinese Yuan Renminbi | 2,384.50 | 7,296.41 | 206% | ||
| Colombian Peso | 515,520.00 | 2,313,584.78 | 349% | ||
| Costa Rican Colon | 84,833.28 | 596,793.97 | 603% | ||
| Cuban Peso | 6,048.00 | 31,948.93 | 428% | ||
| Cape Verdean Escudo | 30,269.66 | 95,063.14 | 214% | ||
| Czech Koruna | 10,308.96 | 23,979.54 | 133% | ||
| Djiboutian Franc | 49,608.00 | 212,128.84 | 328% | ||
| Danish Krone | 2,126.02 | 6,543.76 | 208% | ||
| Dominican Peso | 4,556.16 | 51,058.01 | 1021% | ||
| Algerian Dinar | 19,257.12 | 94,146.86 | 389% | ||
| Egyptian Pound | 979.72 | 8,377.25 | 755% | ||
| Ethiopian Birr | 2,296.51 | 22,982.13 | 901% | ||
| Euro | 286.48 | 877.27 | 206% | ||
| Fijian Dollar | 576.00 | 2,288.14 | 297% | ||
| British Pound | 178.25 | 727.98 | 308% | ||
| Gibraltar Pound | 178.36 | 727.98 | 308% | ||
| Gambian Dalasi | 3,217.82 | 45,331.31 | 1309% | ||
| Guinean Franc | 389,836.80 | 8,171,692.36 | 1996% | ||
| Guatemalan Quetzal | 2,183.04 | 9,453.27 | 333% | ||
| Fiat Currency vs 1 oz Gold | 1-Jan-2000 | 1-Jan-14 | % Change | ||
| Guyanese Dollar | 51,724.80 | 244,692.64 | 373% | ||
| Hong Kong Dollar | 2,238.91 | 9,348.46 | 318% | ||
| Honduran Lempira | 4,184.64 | 24,413.81 | 483% | ||
| Croatian Kuna | 2,188.63 | 6,680.34 | 205% | ||
| Haitian Gourde | 5,028.48 | 52,637.37 | 947% | ||
| Hungarian Forint | 72,763.20 | 260,668.31 | 258% | ||
| Indonesian Rupiah | 2,030,400.00 | 14,660,942.01 | 622% | ||
| Israeli Shekel | 1,195.49 | 4,182.30 | 250% | ||
| Indian Rupee | 12,510.72 | 74,608.38 | 496% | ||
| Iranian Rial | 501,480.00 | 29,868,029.88 | 5856% | ||
| Icelandic Krona | 20,805.12 | 138,296.67 | 565% | ||
| Jamaican Dollar | 11,865.60 | 127,373.75 | 973% | ||
| Jordanian Dinar | 203.90 | 852.37 | 318% | ||
| Japanese Yen | 29,416.32 | 126,936.72 | 332% | ||
| Kenyan Shilling | 20,908.80 | 103,924.44 | 397% | ||
| Comoran Franc | 139,115.52 | 431,587.34 | 210% | ||
| South Korean Won | 326,102.40 | 1,272,652.47 | 290% | ||
| Kuwaiti Dinar | 87.55 | 339.98 | 288% | ||
| Caymanian Dollar | 361.36 | 988.64 | 174% | ||
| Lao or Laotian Kip | 2,462,400.00 | 9,644,960.00 | 292% | ||
| Fiat Currency vs 1 oz Gold | 1-Jan-2000 | 1-Jan-14 | % Change | ||
| Lebanese Pound | 432,288.00 | 1,808,430.00 | 318% | ||
| Sri Lankan Rupee | 20,563.20 | 157,466.03 | 666% | ||
| Liberian Dollar | 288.00 | 97,594.94 | 33787% | ||
| Basotho Loti | 1,771.20 | 12,622.81 | 613% | ||
| Lithuanian Litas | 1,146.24 | 3,029.03 | 164% | ||
| Latvian Lat | 168.28 | 614.87 | 265% | ||
| Moroccan Dirham | 2,896.42 | 9,835.57 | 240% | ||
| Burmese Kyat | 1,800.49 | 1,186,330.08 | 65789% | ||
| Mongolian Tughrik | 302,227.20 | 1,977,216.80 | 554% | ||
| Macau Pataca | 2,293.34 | 9,628.92 | 320% | ||
| Mauritanian Ouguiya | 62,588.16 | 347,218.56 | 455% | ||
| Mauritian Rupee | 7,277.76 | 36,349.44 | 399% | ||
| Maldivian Rufiyaa | 3,121.92 | 18,361.59 | 488% | ||
| Malawian Kwacha | 13,305.60 | 508,289.40 | 3720% | ||
| Malaysian Ringgit | 1,094.11 | 3,952.63 | 261% | ||
| Nigerian Naira | 28,627.20 | 192,778.63 | 573% | ||
| Nicaraguan Cordoba | 3,490.56 | 30,170.64 | 764% | ||
| Norwegian Krone | 2,306.30 | 7,320.57 | 217% | ||
| Nepalese Rupee | 19,903.68 | 119,718.07 | 501% | ||
| New Zealand Dollar | 551.20 | 1,466.30 | 166% | ||
| Fiat Currency vs 1 oz Gold | 1-Jan-2000 | 1-Jan-14 | % Change | ||
| Omani Rial | 110.79 | 463.92 | 319% | ||
| Panamanian Balboa | 288.00 | 1,205.62 | 319% | ||
| Peruvian Nuevo Sol | 1,010.02 | 3,369.11 | 234% | ||
| Papua New Guinean Kina | 759.89 | 3,021.59 | 298% | ||
| Philippine Peso | 11,586.24 | 53,529.53 | 362% | ||
| Pakistani Rupee | 14,918.40 | 126,951.79 | 751% | ||
| Paraguayan Guarani | 944,216.64 | 5,527,767.70 | 485% | ||
| Qatari Riyal | 1,047.74 | 4,389.78 | 319% | ||
| Rwandan Franc | 96,301.44 | 811,382.26 | 743% | ||
| Saudi Arabian Riyal | 1,080.00 | 4,521.62 | 319% | ||
| Solomon Islander Dollar | 1,432.80 | 8,673.54 | 505% | ||
| Seychellois Rupee | 1,545.12 | 14,396.31 | 832% | ||
| Swedish Krona | 2,444.54 | 7,762.25 | 218% | ||
| Singapore Dollar | 479.29 | 1,522.45 | 218% | ||
| Saint Helenian Pound | 178.36 | 727.98 | 308% | ||
| Sierra Leonean Leone | 545,322.24 | 5,169,698.56 | 848% | ||
| Somali Shilling | 732,205.44 | 1,469,650.78 | 101% | ||
| Sao Tomean Dobra | 664,427.52 | 21,411,811.20 | 3123% | ||
| Salvadoran Colon | 2,505.60 | 10,549.18 | 321% | ||
| Syrian Pound | 12,322.08 | 136,174.24 | 1005% | ||
| Fiat Currency vs 1 oz Gold | 1-Jan-2000 | 1-Jan-14 | % Change | ||
| Swazi Lilangeni | 1,771.20 | 12,622.81 | 613% | ||
| Thai Baht | 10,800.00 | 39,411.72 | 265% | ||
| Tunisian Dinar | 358.93 | 1,981.44 | 452% | ||
| Tongan Pa'anga | 448.10 | 2,245.94 | 401% | ||
| Trinidadian Dollar | 1,778.89 | 7,691.86 | 332% | ||
| Taiwan New Dollar | 9,039.46 | 36,028.15 | 299% | ||
| Tanzanian Shilling | 228,096.00 | 1,907,290.84 | 736% | ||
| Ukrainian Hryvna | 1,501.78 | 9,922.25 | 561% | ||
| Ugandan Shilling | 426,974.40 | 3,038,162.40 | 612% | ||
| US Dollar | 288.00 | 1,205.62 | 319% | ||
| Uruguayan Peso | 3,329.28 | 25,438.58 | 664% | ||
| Vietnamese Dong | 4,015,296.00 | 25,408,441.50 | 533% | ||
| Ni-Vanuatu Vatu | 36,777.60 | 114,955.87 | 213% | ||
| Samoan Tala | 890.21 | 2,831.42 | 218% | ||
| Central African CFA Franc BEAC | 187,358.40 | 575,449.78 | 207% | ||
| Silver Ounce | 53.43 | 61.92 | 16% | ||
| East Caribbean Dollar | 771.84 | 3,255.17 | 322% | ||
| IMF Special Drawing Rights | 209.45 | 782.51 | 274% | ||
| CFP Franc | 33,744.96 | 104,685.86 | 210% | ||
| Yemeni Rial | 45,702.72 | 258,967.18 | 467% | ||
| South African Rand | 1,771.34 | 12,622.81 | 613% | ||
| Zimbabwean Dollar | 10,725.12 | 436,313.88 | 3968% |
Friday, January 10, 2014
Currency Debasement World-wide
Thursday, January 9, 2014
from Dr. John
"Confidence abounds. Last week, Investor’s Intelligence reported a surge in advisory sentiment to the highest bullish percentage since October 19, 2007. The National Association of Active Investment Managers (NAAIM) reported that the 3-week average equity exposure among its members increased to the highest level on record. We observe warnings from nearly every variant of overvalued, overbought, overbullish, rising-yield conditions that have accurately warned investors of oncoming market losses in a century of data, not to mention in real-time in 2000 and 2007 (see for example, my October 2007 comment Warning – Examine all Risk Exposures).
As one of many historically effective variants of this syndrome, define “overvalued” as a Shiller P/E anything higher than 18 (given an actual multiple of 25.7 here, any objections to the Shiller metric are quibbles); define “overbought” as the S&P 500 at least 8% over its 200-day average, and just to be extreme about it – within 2% of a 5-year high; define “overbullish” as a 2-week average of bulls greater than 54% with bears less than half that level – below 27%; define rising yields as a 10-year Treasury yield higher than it was 6 months earlier.
Prior to 2013, those conditions were observed only in June 2007 – about 2% from a bull market peak that would be followed by a 55% market loss; July 1999 – when optimistic investors could at least look for the S&P 500 to advance another 8% to the ultimate bull market peak in 2000, after which the market lost half its value – but not without a 12% correction between July and October 1999 first; the August 1987 pre-crash peak; the December 1972 peak, a few weeks before the New York Times quoted then-analyst Alan Greenspan saying “It’s very rare that you can be as unqualifiedly bullish as you can now” – immediately followed by a 50% market plunge; and (using imputed sentiment data) August 1929.
The deeply unfortunate part of this story is that since early 2013, these strenuously overvalued, overbought, overbullish, rising-yield conditions have been observed not only in recent weeks, but also in May 2013, with a close call as early as February 2013. No material market weakness has emerged during this period, which encourages investors to ignore the risk altogether, rather than consider the likelihood that this risk is increasing, despite being unrealized to-date."
Wednesday, January 8, 2014
NSA, again?
The sale of two intelligence satellites to the UAE by France for nearly a billion dollars could go south after they were found to contain American technology designed to intercept data transmitted to the ground station.
The equipment, costing 3.4 billion dirhams ($930 million), constitutes two high-resolution Pleiades-type Falcon Eye military intelligence satellites, which a top UAE defense source has said contain specific US-made components designed to intercept the satellites’ communications with their accompanying ground station, Defensenews.com said in a report.
“The discovery [of the US-made components] was reported to the [office of the] deputy supreme commander [Sheikh Mohamm ed Bin Zayed] in September,” an unnamed defense source said. “We have requested the French to change these components and also consulted with the Russian and Chinese firms.”
“If this issue is not resolved, the UAE is willing to scrap the whole deal,” said the source, adding that the incident has seen an increase in talks with Moscow, which – along with Beijing – has also been a frequent defense tech supplier to the Gulf state.
Saturday, January 4, 2014
Friday, January 3, 2014
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