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So you buy gold as a hedge against worthless dollars but until they get to a point where you can go to the store and trade clothes for gold the only thing you can do with your gold is trade it for worthless dollars.

Yeah, it makes no sense. Now, if you bought your gold during the EQUITIES boom, when it was 200-400 oz, then you'd be doing what with it now? Buying more? Methinks not. Methinks you'd be SELLING it. Then you'd have successfully hedged.

The inflation fear that is driving this gold bubble is in full swing. It's too late to hedge. Anyone who buys now is merely speculating. I was just reading Deutsche saying it's not a bubble yet. When it gets to 1450, they say, it'll be extreme. OK, so that means there's 150 bucks left of gains before it becomes risky? For a 1300 investment? Equities are doing as well as that, if not better, plus dividends.

The people who smartly hedged against inflation with gold did it 10 years ago. Now they are cashing in.