There is a plethora of articles on the many Gold websites about how Gold and silver are about to take off – by which, they mean, about to go up as measured in dollars or some other currency.
It is unwise to sit agog, waiting for this to happen.
Gold, when monetised as a known weight and fineness, has a totally unique stability of value and is hence the measure of value. That is why it is money. Gold’s value is not changing – it never does. Gold does not respond to any laws of supply and demand because it is not a good. Money cannot be a good.
What the charts are showing, albeit obliquely, are fluctuations in the value of the currencies that purport to measure Gold.
When the POG charts show it going to da moon, then the dollar will be well on its way to worthlessness – literally worth nothing more than the paper (cotton, plastic etc.) that the numbers and pretty colours are printed on.
“Government is the only agency that can take a valuable commodity like paper, slap some ink on it, and make it totally worthless”
Ludwig von Mises
Or, in blunter and more general terms…
“Everything that the government touches, turns to shit.”
Ringo Starr (1st Prize for best quote of the 20th century)
One day, the dollar achieving worthlessness will happen, but those who wish for it are, by my observation, usually the least equipped to cope with what that will mean.
Lacking the parallel circulation of money, supply lines will grind to a halt, fuel will run out, supermarkets will empty, and pension funds, banks and insurance companies will fail overnight. Drug dependent people will die; others will starve.
There will be no safe place; being known to own Gold or silver will make life even more dangerous than it will already be.
Don’t sit around eagerly awaiting such a scenario. Rather, be responsible for the sort of society that we leave to our offspring and work to avoid it.
There is only one practical solution, which is to get money circulating again. Governments will never promote the circulation of real money, because it will mean the end of their very lucrative monopoly. Only the free market can get us out of this mess.
I know of only one organisation working to achieve circulating money. If you are fortunate enough to own some Gold or silver, then set aside a portion of it to invest in ‘A Yield on Gold, Paid in Gold’.
Yes, I do have an interest in this company and yes, I do what I preach. I would rather my Gold were producing an income (to me, the demonstration of such a phenomenon is more important than the interest), than sitting in a hole in the ground, disinterestedly awaiting the end of times.