The theme for this year, besides a collapsing credit bubble, will be the contest for the reserve currency to the world. The dollar currently wears the crown, but is looking a bit haggard after years of rough trade.
The euro, while looking like a perky runner up candidate at times, is failing the talent contest. The Swiss franc was nicked for soliciting to perform inflatio and was disqualified from the hard currency club on grounds of capital turpitude.
The yen is the dollar's homely BFF so its a local favorite primarily with mom and dad. Everyone knows the Renminbi moves in a very exclusive and private circle of admirers, preferring not to leave the house, much less wear a revealing bikini for the judges.
Hence the advance of that purest of beauties, gold.
