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| John, while I try to make the case that deflation can be just as likely as inflation - at least for awhile - I do think there will be a time coming when gold might be very valuable to have. The best economic historian I've ever read (and had the good fortune to visit with twenty years ago) calls gold a hedge against government and says that its time will come. Debt is poison. Eventually it kills the system. Everyone knows it will never be repaid. Default will happen - one way or another. It's not a lot different than playing Monopoly when one player gets all the property and money. That player can loan money to the loser, and the game can go on, but it gets increasingly pointless as more and more money is created.
I, too, hope you never need your gold, but I suspect you might benefit from it (if it isn't confiscated first). | |
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Not a good day for the gold market.
