West Central Alberta Coldest, wettest edge | I agree exactly with your statement Re Gold vs. grain. that is what I have been arguing with the gold bugs for the last few years. If they are expecting total economic/currency collapse, then why would you want to have all of your net worth invested in something that you can't eat, burn for energy or heat, or provide you with shelter or protection. If their scenario plays out, there will be no need for any currency, just food, shelter and protection.
Gold has very little industrial use, and is of virtually no use to the average person and governments plus individuals around the world are sitting on mountains of it already. So, a commodity with steadily increasing supply, no end use, and it sets a new record for carryover stocks every single year since the first discovery, sounds like a bargain! Compare to grains; very slightly increasing supply but subject to countless disruptions, all of it has an end use, you can eat it, burn it ( ethanol, or in a stove) feed livestock (if you take the goldbugs at face value, we may all be riding around in ox carts soon, might need to feed more livestock), and declining carry over stocks for many years.
By the way, I don't subscribe to the doomsday scenario, just an extended period of pain while we suffer the hangover from the financial party we have all been on. But either way, we will still need to eat.
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Heard commentary today that said we are going from a supply market to a demand market
