The banging of the drums announcing a rising ‘price of Gold’ are beginning again. Mighty Gold warriors are beating back the manipulators of the ‘price of Gold’. The high priests of hyperinflation, embarrassed and subdued by reality for so many years, are re-emerging from the shadows to join in the cacophony. These defenders of the true faith exhort you to invest in Gold so that you can make more dollars – while, in a splendid display of cognitive dissonance, acknowledging that the dollars are falling to zero value. A brand new credulous audience awaits the slavering spruik of the hucksters.
Don’t listen. Here are the nuts and bolts of Gold; the bare essentials…
1 Gold is the measure, not the measured, which means that
2 currencies are measured by Gold, not the other way around, and
3 Gold will only go to ‘da moon’ when currencies collapse, and
4 if that happens, there will be no winners.
5 Gold is a store of stable value, which means
6 you must own Gold, or its surrogate, silver because,
7 you need to transfer some wealth into an uncertain future.
The real problem is debt. That debt – sovereign, state, corporate and private – ensures a high demand for currencies to service it – particularly US$s. The problem that draws nearer is that the debt is no longer serviceable. When the debts collapse, then so, simultaneously, do the currencies. All of them. The US$ will be the last to fall, not the first. But it will collapse.
Support efforts to get Gold circulating again before the debts collapse leaving the currencies worthless.
We need to transition smoothly from currencies to Gold, not have to begin civilization again. How many centuries/millennia will that take?