I wandered into one of my favourite Gold outlets last week. I was last there about twelve months ago and the place, as always, was packed. It has a smallish reception/counter area and on that last visit there were about ten customers milling around. The sales people had a rushed and harried air about them.
Last week? It was afternoon and I checked the time. The lights were out, but surely they were open at 3:30pm?
I rang the doorbell and someone appeared out of the back room. He turned the lights on and let me in.
It seems that confidence in the Au$ is very high at the moment – at least amongst the locals. Or maybe, there is little spare cash around anymore.
I do worry about people’s lack of ability or willingness to be responsible for their own survival – to intelligently predict and to then act in accordance with those predictions.
The storm clouds are darkening.
Understanding money, not only what it is, but what it is not, and how it really works, has a gloomy side to it that occasionally inflicts itself upon my sunny disposition.
Those who cheer when the ‘price of Gold’ goes up do not understand money, and do not understand what the ongoing collapse of our quasi-money really means.
Other than for immediate cash flow, all holdings should now be in the metal itself – Gold, not silver. Then pray that its ‘price’ in currency does not go up anytime soon.
There will be another time when it is appropriate to hold silver instead of Gold. But of course, silver is better than nothing. Nothing is what most people have. Most won’t live to regret it.
I think that I need some more coffee.