QuoteDisliked100pipsaday: Until the day comes when society-at-large no longer wants to have faith in using their debit cards and other digital forms of monetary transactions at WalMart, just accept the fact that GOLD (and even real estate) will probably make you look like the ever-so-wise one if you’re around to see a legit collapse of the current banking/currency system.
Just so you know, gold is the winner in that scenario, real estate crumbles if you have currency crisis as interest rates and inflation rates rise and credit disappears.
QuoteDisliked100pipsaday: Yes, gold CAN BE pure insurance against paper currency breakdown. Which, like California falling over into the Pacific Ocean, is not something I’ll expect to see in my lifetime.
US debt bubble= USD bubble = collapse
IMO, this is a high probability event in the next 2-5 years.
Not betting on apocalypse here as you are only right once and it is real hard to collect when you are. But the collapse of the USD is a highly likely scenario which would lead to skyrocketing gold and global depression. US inflates its way out of debt and starts over with real meaningful budget discipline. So, we come out the other side better off with a vastly different society.
Not saying it will happen, but it is a likely scenario one must be aware of. I would be a buy and hold buyer of gold as soon as I saw any credible sign of a significant tick up in inflation(yes, I get it, cpi is mangled, we already have inlfation, etc) but real noticeable signs.
Until then, I trade it.
The world you desire can be won. It exists.. it is real.. it is possible..