[kcar]

Gold (and silver) are great for individuals, with a few caveats. First, get physical. The paper ETFs are just another Ponzi scheme. Second, remember what the Boys did in 1933 and don't trust safety deposit boxes at banks. All too convenient should confiscation follow. Third don't trust certificates at foreign mints - they will cave to the US government. Silver is probably less at risk of confiscation.

My fear - of not having a legit hard currency to flee to - is more societal. How do we bill export invoices? How does Cost Accounting value assets? When does trade have more currency risk than entrepreneurial risk? Does it break down?

The US, UK, Switzerland and Japan are in for quantitative easing. The renminbi is quasi-pegged to the USD and the Chinese won't want to lose the war of competitive currency devaluations. There is enormous pressure on Western Europe to force the ECB to go along with quantitative easing. The Germans at least remember what hyperinflationary depression looks like.

What would global hyperinflationary depression look like?

[CottonBall]

My fear - of not having a legit hard currency to flee to - is more societal. How do we bill export invoices? How does Cost Accounting value assets? When does trade have more currency risk than entrepreneurial risk? Does it break down?

That's a good point.

The US, UK, Switzerland and Japan are in for quantitative easing. The renminbi is quasi-pegged to the USD and the Chinese won't want to lose the war of competitive currency devaluations. There is enormous pressure on Western Europe to force the ECB to go along with quantitative easing. The Germans at least remember what hyperinflationary depression looks like.

What is quantitative easing? And whose currency is the renminbi?

What would global hyperinflationary depression look like?

That would be ugly.