Further, some investors tend to buy gold as an alternative currency when the dollar sags.
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In the past several years, gold has been seen as an alternative currency by some investors and this research underlines that view.
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All of this means it makes sense to think of Bitcoin less as an alternative currency than as a new platform for financial innovation.
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Governments that view it as an alternative currency and as an official means of payment can discourage people from holding it via the tax code.
Historically platinum has had a price premium over gold, but that changed around late September last year when a poor world economic outlook pinched industrial metals like platinum and buyers sought gold for its safe-haven status or its role as an alternative currency.
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Other gold investors believe that continued weakness in the dollar will attract more gold investors like the central banks of China, Russia and India, who see the precious metal as an alternative to paper currency.
Giving citizens a choice of currencies was proposed in a Conservative government Treasury paper in the late 1980s, as an alternative to the single European currency.
Since the rules were introduced in November 2011, Paypal has been used as an alternative means of obtaining the US currency close to the official exchange rate, which currently stands at about 4.7 pesos per dollar.
Mr Geithner has suggested deficit or surplus targets of less than 4% of gross domestic product as an alternative to pressing China to allow its currency, the renminbi, to appreciate faster.
It has been trying to promote the yuan as an alternative to the US dollar as a global reserve currency.
Of the three approaches, methods 1 and 3, using currency shares and empirics respectively to adjust for currency valuation effects, result in robust relationships between changes in currency-adjusted FX reserves and the BOP surplus, whereas method 2 using forex purchases as an alternative proxy for adjusted FX reserves is inferior.
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