Euro Gold Price Shows Depth of Crisis - 17 June 2011

Think the Euro is "holding up"? Think again...

ARMED WITH the following chart, we're ready to do some "myth busting", writes Brian Hunt for Steve Sjuggerud's Daily Wealth.

You see, one of the big myths in the marketplace is that despite its colossal government debt and welfare problems, Europe's pan-continent currency, the Euro, is holding steady right now. 

Many analysts wonder how the heck it can manage to do this while facing problems like Greece's debt default... which will be followed by more defaults.

Look again: The Euro is plummeting in value. You see, the problem with conventional Euro price quotes is they value the currency against other weak paper currencies like the US Dollar and the British pound. Gold, on the other hand, is "real money". But it's not used in the conventional calculation.

As you can see, the Euro isn't at all holding steady like most folks think. It's in a "falling apart" bear market when priced in gold... and it will continue to grind lower.

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Steve Sjuggerud, 17 Jun '11
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Former stock-broker, mutual-fund vice-president and hedge-fund advisor Dr. Steve Sjuggerud is the founder and editor of True Wealth. Launched in 2001 and now one of America's best-followed newsletters for private investors, True Wealth also provides free analysis and ideas in the Daily Wealth email service.

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