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Napanee, Ontario | "you still need a fiat currency to trade in because no one will do business in gold bars or even coins."
Is that true? History says otherwise.
IMO, when this decades long fiat experiment finally reaches the end of its rope, a new system will be implemented where the medium exchange is indexed and anchored to real economic measures. Perhaps linked with GDP, or a basket of commodities. In the latter, i believe gold will play a major component.
If gold isn't a viable solution, then why are countries buying it by the ton and repatriating it en mass as references made here on posts today? Perhaps they are seeing the problems with un-anchored fiats and some real problems developing in the not so distant future? Take a look at what's going on in Switzerland right now. There are people a lot smarter than myself raising the concerns of the sustainability of the current model we have, and countries are already taking action to mitigate the risks.
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Germany also continues to take back gold.
