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December 27th, 2013 at 9:20 am
There's a reason they don't write books or make movies about end of the world scenarios anymore. NBC has a show "Revolution" but the plot centers on something causing all the power to go out in the World. Still society moves on. If the monetary system collapsed tomorrow, by Monday banks would be issuing checks priced in liters of water or pounds of chicken or whatever because there are entire institutions that exist filled with people who want to work who would show up on Monday and try to figure out how to make themselves relevant in the cashless society. They would use their vaults to store your gold and you would write checks for gold instead of cash, etc. Market prices would be set in units of barter instead of international currency and, assuming we still have electricity – there would be exchanges for every sort of trade good set up as fast as you can say "Bitcoin".
We're about 50 years past the point where these end of the World scenarios would play out. Gold's value is simply as a steady, reliable store of wealth that has an internationally fixed value, which is very good if your local currency begins to devalue. Given the expansion of the Global monetary supply, it's shocking how low gold is at the moment and, of course, the reason is, supposedly, the incredible market confidence our Central Banksters are buying us in a "zero inflation" environment. What if any one of these factors reverses?
Speaking of reverses, oil jamming to $100.25!
Dollar 80.155. Gold $1,215.