I think the 50k is a relative to other assets figure. e.g 10 ounces to buy that house the underwater owner wants to dispose of. Market value went from $1.3m book value to 500k sale value. An ounce for that flash car with all the extras, etc that cost its owner 200k but owner will take 50k. I'm not sure how it would work, but one part is gold becoming money again. That's the sort of scenario I have in mind, and I hope it doesn't happen. I can't see Gold Stackers display case with 50k stickers on the displays, or Jeweller's with bangles at 50k.
Of course it will happen. The gold price in South Africa 21 years ago was R900/oz now its approaching R20,000. Ask the Zimbabweans or the Venezuelan populous what gold costs in their local currency. What is going to support the future AU$ ?????? Taxation? government programs ? New TV reality shows ? because that is all that is being discussed right now. Our leaders are so clueless that it is almost unbelievable. Watch and learn....
