Deutschemark Silver
Posted in Uncategorized on 11/29/2004 06:33 am by admin
Deutschemark Silver
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US $24.36
Everybody who shares some interest in economics is familiar with the name of George Soros. "The Man Who Broke the Bank of England" as he came to be known, is a Hungarian-born American who made his fortune by fiddling with money. He reported having made $1 billion during the 1992 UK currency crisis. He borrowed 10 billion pounds sterling, sold them on the market and put his hopes in the sterling devaluation. When that happened, Soros bought back the 10 billion at a lower price, of course, returned it to the rightful owner and made a handsome profit of a billion. This is what in technical terms is referred to as short selling.
Few people know however, that the British currency at the time was set at 2.95 Deutsche Mark because it was part of the European Exchange Mechanism and if it fell is was due to the Bank of England's reluctance to let it float or raise its interest rates. In short he made his fortune during a crisis.
But waiting for a serious downturn to happen before you have a chance to make some money is not generally an option. Keen businessmen need to turn their attention to other sources of wealth. And GOLD is a possible answer.
Investing in gold, be it jewelry, Krugerrands-gold coins from South Africa or gold bullion bars has always been preferred over just putting money into a bank. And this is because usually during good times the interest rate on your bank deposits tends to be low as a measure of encouraging people to spend their income in the economy. Interest rates only get high enough for visible returns if banks are liquidity thirsty which mainly happens during economic recession as the one we are experiencing.
The fact that gold is a safe investment is shown by the fact that during this economic crisis buying gold has picked up. According to the World Gold Council the retail demand for bullion in the last quarter of 2008 was about 5 times higher than in the same period in 2007. disappointed by puny deposit rates and insecure stock markets business people across the world returned to the oldest investment in the humanity's history: Gold.
Learn from professionals how to buy gold bullion bars in times of recession.
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Deutsche Mark $62.13 High Quality Content by WIKIPEDIA articles Le Deutsche Mark fut la monnaie officielle de la Republique federale dAllemagne depuis juin 1948, succedant alors au Reichsmark, jusquau 31 decembre 2001, avant son remplacement par leuro. Le deutschemark etait subdivise en 100 pfennigs. Author: Miller, Frederic P./ Vandome, Agnes F./ McBrewster, John Binding Type: Paperback Number of Pages: 72 Publication Date: 2010/09/29 Language: French Dimensions: 6.00 x 9.02 x 0.17 inches |
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