1nvest wrote:A recent jump in the price of gold, after the EU decides that its OK to redirect other (i.e. Russian) central banks money/assets. Euro down/gold up as other central banks become nervous about the integrity/safety of the Euro and sell/reduce exposure. The Euro is a odd currency, is the only one that is backed by/dependent upon nothing else other than the free movement of goods/services/capital/people. Not good in a world that is transitioning towards increased levels of mass migrations (global warming).
Idiotic governance isn't solely a UK thing.
Are you SURE that the EU has decided to take those Russian assets? I know that they have been talking about doing so and even talking of such shows just how much our governments respect property rights. However have they REALLY finally decided to help themselves? Can you provide a link?
I should say that I'd also question your contention that other fiat currencies are not dependent upon a balance of trade. I'd think that recent events with respect to the Egyptian pound and others might show that the EU is not alone in that regard.
Returning to the subject, the link is to an article by someone who is obviously only interested in index trackers. Who cares how well LVMH does? Unless it is an index, they are not interested. Worse, he draws conclusions about geographical areas, by stock market. Remind me, what part of the world does the Chillian miner Antofagesta operate in. Oh, that's right, London! ARM's operations are obviously mostly in New York!
OK, if we are to talk "market" returns, fair enough. But are not the S&P and Nazdaq in the same geographical area. What of the FTSE and AIM? Does it actually make ANY sense to compare any of these with any other and talk geography?