Two excellent replies re the turmoil in gold.
We have this younger female relative, who is extremely smart, often cuts through the B$, and asks questions which might be obvious, but no one asks them.
Two summers ago, we visited her parents, and they informed me that she wanted to watch Fox Business with me. Which can be probably harder than oral PHD exams for Bus Adm.
I think I got a C with my answers in the first hour.
Then, there was a barrage of Gold Ads on tv including some former Watergate stars.
After these buy gold now because the $ will be worthless, came the best question of the day, month and since then.
Her question was simple but again to the core:
“If our dollars were so worthless and gold is so valuable now and in the future, why do the gold sellers want our $’s to buy their precious/valuable gold?”
I told her that I didn’t know and asked her why?
She said, “Something stinks and someone may be lying! If our $’s are so worthless now and later, why would a sane person sell their precious gold for worthless $’s!”
Thanks Grampa Dave, and that is an interesting question isn’t it.
For all the carping about the dollar though, it’s still a very respected currency. Where else are you going to go?
If the U. S. goes, there isn’t a currency on the planet that would be worth a darn.