“If gold (a mere commodity) is ‘revalued’ then that means the dollar has been devalued.”
Like it or not, it is not a mere commodity. It has been the universal foundation of money for a couple of millennia. It has held its value perfectly with the price of things around us since that time.
It’s a poor investment, but a fine store of value.
So yes, it does mean that the dollar has devalued. I doubt it will be 8000 an ounce. But if it did, that would mean dollars were like Weimar marks. The gold can be saved until the drama ends and then converted into the new currency.
My concern is that if the dollar flops then the government will try to round up all the gold and silver from people who’ve been buying it as a hedge.
Just like FDR did in the 1930’s.
That has been my thinking for the last decade.
Unfortunately, the thieves who run the financial world seem to have anticipated that.
I think that is precisely why you are suddenly seeing stories about 'outlawing cash.'
Can't have the little people thinking they don't have to bow the knee like the rest.