Gold (and Silver) is NOT debt and has no 3rd party liability...unlike FIAT (Debt Money). [Zimbabwe]
The 'purchasing power' of Gold, for example, is about the same as it was 10, 100, 1000 years ago.
- Not so for that FIAT (because we say it's worth something) debt money.
GOLD and SILVER cannot, and do not, default.
- With $2 quadrillion in derivative debt, it would be good to realize that 'what cannot be paid back, will not be paid' back.
In that context, while I remember thinking that $5,000 Gold was unlikely (it's now over $3k and heading for $4k), I now consider that (a) a major revaluation of Gold may be in the cards, but on a macro-level Gold and Silver could go above AU $135,000/oz and AG $6,700/oz.
God help us, everyone.
1 comment:
Historically gold was worth about ten times what silver was worth. Today it is closer to 100 times. Yes, I know the photographic film industry all but disappeared but that doesn’t explain all the disparity..
Something is hinky here. Either gold is way too expensive or silver is way under valued. I don’t know but the smart money says things will settle out with silver rising and gold falling, maybe. You make your choices and takes your chances.
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