The currencies ARE worthless, except to the extent they are backed by something real. We could bid up a speck of dust to be worth a million dollars, but it will still be a worthless speck of dust. Reality will eventually dominate the myopia and hysteria, is what I'm saying.
Right now the only thing backing the dollar is the US' ability to invoke nukes on anyone who tries to undermine it. But once it becomes clear to everyone that the threat is just a paper tiger (mainly from hypersensitivity and irrational liberalism quickly becoming the defining underlying culture, not to mention the fear of being nuked back), the paper will be worth roughly what it's printed on, plus maybe a bit of sentimental value.
Gold, on the other hand, has its scarcity and other properties for natural reasons. It will remain that way regardless of who has the nukes, what kind of propaganda goes with it, and how many dumdums believe it at a given point in time.
It won't happen all at once of course. Inflation will set in gradually but it will get the job done over time.
1,2...5 years ago yes.....but not anymore. A LOT less hedging going on. I think the CEO's of gold producing companies have fully embraced this epic, historic gold bull market we are barley a third of the way in.
Portfolio is looking especially sharp this month.............
:chest:
may be a tad bit undersold at the moment, but gold is a market you never want to time IMHO.....could go to $850 by X-mas or back down to $650 (briefly of course) - neither would surprise me
