Dollar Demise Refuted With 13% Gain Since 2008 – as compared to what?  Other currencies?  Or as compared to gold, oil or other commodities?

The Year U.S. Debt Beat Gold, shows 10-year treasury notes with 16.7% gain.  But this is unfair since the face value of these notes is 1.91% at year end.  That is you can only get 16.7% if you are trader in these notes.  Holders of US debt notes vs. holders of gold is a different story.  If you held gold over 2011, you outperformed treasuries.  Gold ended the year at $1,566.40 vs. $1421 at the end of last year.  That’s a 10% gain which is better than U.S. debt.