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One should never be concerned about the gold price measured by a suspect still standing monetary regime. Value placed on Gold in terms of fiat currency solely backed by the good faith and credit of bankrupt Governments whose Central Banks are counterfeiting paper money is only viable so long as the presiding monetary authorities legitimately maintain their credibility and supremacy over time.
The history of fiat money, to put it kindly, has been one of failure. In fact, EVERY fiat currency since the Romans first began the practice in the first century has ended in devaluation and eventual collapse, of not only the currency, but of the economy that housed the fiat currency as well. (The Daily Reckoning)
The inevitable failure of the western world's financial system will leave gold as the only veritable store of value still standing. Once the capital and economic breakdown befalls, the trust between the nations tied to the previous monetary order will have been irrevocably shattered. Gold then emerges as the essential and only long standing common denominator between sovereign States that no longer value each others' previously accepted paper obligations, having been entirely discredited, which hitherto had facilitated the exchange of goods and services between them.
The severe monetary, commercial and geopolitical dislocations that invariably ensue, unalterably follows the disintergration of the previous global means of exchange, in this case the Dollar. That is precisely the moment Gold takes center stage. When the dust finally settles, the only remaining store of value still trusted and acceptable as a means of fair trade is gold. It consistently has been for over 4,000 years of civilization's monetary history, which is about determinative a probability as they come.......
Finally, a new monetary system is eventually invariably reestablished between the decimated distrusting parties, forced to the negotiating table so as to resolve the ongoing global financial cataclysm, which can only be based on a universally recognized currency, and that my dear friends has always been gold. At the end of the day, the honest and genuine asset class is quite simply in class of its own, unequivocally valued by all concerned parties, particularly at that critical perilous juncture in time..
It's all really quite simple, it's not about the new Stock Market highs, nor the Dollar and U.S. Treasury safe haven. It’s all about tomorrow’s confidence in our Monetary system. Are you confident in the malignant malfunctioning monetization? Actually, the only pertinent question still remaining, is when, not if, it won't be a Happy New Year for our cocksure monetary mad men?
Money is stored labor. Labor is part of life. When you debase money you devalue life itself.
Oh, and for all those lost souls that incessantly dismiss gold as a barbaric relic, please be advised that the metal remains the best performing asset class of the new monetized millennium, by a country mile................ Be sure to let me know when that changes......
Moreover, Gold is simply financial insurance, whether you have paid $45 per month or $65 per month for crucial insurance coverage becomes entirely irrelevant when an instantaneous incendiary inferno burns down your home..................Capiche?
To quote the timeless Bobby Dylan: "Come in she said, I'll give you Shelter from the Storm"
