Calafia Beach Pundit submits: With gold today hitting a new all-time high against the dollar, and the world fixated on how the euro is "plummeting," I thought a bit of perspective was in order. As this chart shows, the euro (as the extension to the DM) and the dollar have been moving pretty closely together relative to gold. If all major currencies are losing value relative to gold, that is a good sign that the world's supply of money exceeds the demand for it, and that is a necessary precursor to rising inflation.