One piece of bubblegum, please.................
Posted on 07/15/2011 6:21:22 AM PDT by quesney
"It is very scary: the flight to gold is accelerating at a faster and faster speed," said Peter Hambro, chairman of Britain's biggest pure gold listing Petropavlovsk.
"One of the big US banks texted me today to say that if QE3 actually happens, we could see gold at $5,000 and silver at $1,000. I feel terribly sorry for anybody on fixed incomes tied to a fiat currency because they are not going to be able to buy things with that paper money."
(Excerpt) Read more at telegraph.co.uk ...
ping
It is, and always has been, a universal store of wealth -- since long before the dollar existed.
“It is, and always has been, a universal store of wealth — since long before the dollar existed.”
Gold has effectively replaced the dollar as a safe-haven store of value. I think that’s beyond arguing at this point.
There’s every possibility the US will turn sane after the 2012 elections, but I’m not counting on it. The problem isn’t just Obama - it’s the devolving electorate that voted him into office.
BS story
Devolving electorate...... perfect analysis! That truly is the bottom line problem.
/bingo
If cash money gets to be worthless ... what do you redeem the solid gold for ?
Nope. Not splitting hairs but if gold did that, it'd be north of, oh, $20,000 an ounce. probably way north.
Peas. 'Cause you gotta eat 'em.
In a way most people have never left the gold standard as only gold has been able to maintain its status as the store of value of choice.
The only further debasement of the currency possible is to reduce the physical size of a dollar bill to the size of a postage stamp.
$1,000 silver?? LOL! If silver were that high, we’d have had a TON of major world-destructive events on the way there. Ridiculous.
If an economic apocalypse occurs I’d rather have guns and butter than gold.
One piece of bubblegum, please.................
food, clothing and shelter..........and ammo.................
Exactly.
“If cash money gets to be worthless ... what do you redeem the solid gold for?”
Charmin notes.
The only thing keeping the dollar alive, and the euro, is faith. When that fails, everything falls apart. The liberals, elitists, one-worlders, and the room temperature IQ mouth breathing leech voters have ruined an entire nation........................
Should I by stock in a scale company?
Inflation is the only way out. Devalue a $1,000 Social Security check by 10% and now it only buys $900 but the actual check amount fools the recipient because it is still $1,000. Do that year after year and the $1,000 check will only buy a few hundred dollars in value. This happened in 1978 through 1983 when there was 50% inflation over those 5 years and grandma was eating dog food to survive. What if the inflation rate was 50% a year. That is the only way out of this mess. The unions have been too successful at getting retirement packages that are unaffordable and SS funds are stolen as they come in. Hyper inflation will take care of it though and grandma will move in with her kids or pitch a tent.
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