John Butler on the dollar liability and gold's role as insurance
China and Japan are scheduled to start trading in yuan and yen without first converting them into dollars. What does this means for the US dollar: the global reserve currency? And the rescue of Spain’s Bankia reportedly has investors wary, with concern about the terms of the 19-billion-euro bailout. You might think events such as this would have investors running to safe havens like gold. So why has gold been on a downward trajectory since last August – almost one year? Is it not a safe haven after all? John Butler, author and veteran of global finance, is here. Also, is the US government setting a bad debt example? Well, the National Football League is reportedly raising the debt ceiling for each of its teams. We'll tell you what we think in today's episode of Loose Change with Demetri, Lauren and Shannon.
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