The gold bugs are a-bitin’?
Very much so... If they were serious, they’d realize that gold is a fiat currency - it has no real-world value other than what we attach to it. In all ways silver is a more valuable, useful commodity: higher conductivity (thermally and electrically), hardness, brightness, antibacterial, molecular weight, and current price.
Try to barter with a ounce - or even tenth ounce of gold; it’s like trying to buy groceries for two days with a $1000 or $100 bill. A lot easier to use silver, available in small denominations.
For metals freaks, the upside in silver is much bigger, and it has actual high-volume industrial uses as compared to gold. Gold is literally like diamonds - small real-world application, valued high simply because it’s a fiat value - deemed to be high because we want it to be high.
Silver, copper, lead - those are the metals that have big upsides.
If gold goes that high, you will need one ounce to buy two bags of food.
If it goes that high, we would have been better off stocking up on seed and other food stuffs.
LOL TQC! Well, they certainly bit me. We'll see how all that works out!
Thanks for the ping to a fascinating article! Jeepers, if what the author is alleging — that there's a whole heck of a lot of "paper" trades in gold going on of possibly dubious settlement — well, that is deeply disturbing to me....