A very good graphic on why a return to some form of a gold standard is inevitable. Zero Hedge: Source:
They don't learn: [youtube]http://www.youtube.com/watch?v=EjHoH2m3iKA[/youtube] and now we don't "have Nixon to kick around anymore!"
JulieW...If gold ever goes to $3500oz and silver $150oz..Boy will there be some action here on SS. Some will offload at $40, $50 and so on all the way up to $150. When will you offload? All or some ? SS will have 20000+ on board instead of 6000. Panic buying! Panic Selling. 1 hour Auctions? 2hr waits at Silver Outlets? Interesting times ahead! Perhaps? Regards Errol 43
A Gold standard? Only in the midst of economic chaos, and only when they are forced to by circumstances, in other words, soon! JMO OC
I don't buy the gold standard fantasy dream. Although it would be nice for all of use who hold some here.
What other alternative is there? Only the market can determine what real money should be - it must be physical, it must be finite, it must be easily divisible, it must be desired and it must have history. But mostly, it must be private - but that doesn't mean it won't have any reference to an accepted unit of measure.
I don't see other prices rising enough to justify any higher gold / silver price. The seventies did have that. So I'm not that desperate / in a hurry to buy precious metals that I will pay more than we saw a month ago. And returning to a gold standard doesn't fit in the central planning thieves' scheme of theft, so don't expect it. Let alone a real gold standard, where the currency is redeemable by anyone. Bretton Woods wasn't such real gold standard. Worth taking into account.
There wont be a gold standard ever again on any major world economy. Even if the SHTF and everything gooes belly up it will never ever ever going to happen again. Ever what else can there be you ask -- just like in every other example where the currecny had collapsed they will simply invent a new fiat currancy to take its place and put in a fixed conversion rate from the old to the new. e.g. USD fails will be replaced with the NEW USD as 100:1 it has happened many times around the world allready (Russia, Mexico, Germany etc )
Agree for countries but international trade is based on trust and currently that's in short supply. I see gold as part of an international reserve currency as modelled by the IMF. Sadly.
