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Napanee, Ontario | I have spent a lot of time thinking about what that world would look like. So have many other people more educated on the matter than myself. Like Switzerland.
I think once our current currencies reach that finite life, there will be some major structural reforms implemented where future mediums of exchange cannot be counterfeited and debased at will. Their supply will be indexed to other economic measures as stated in my reply below, and gold will likely be one of them.
What do you really own when you have a stock? A promise. Ask the MF gobal customers how those promises held up. In times of economic calamity, promises are the last thing i would want to be owning. Sure, stocks are doing well for now... just like housing investments did well until 2008. I made a conscious decision 2 years ago that the risk of holding promises in the financial environment we are seeing around the word recently is just too great, and cashed them all out. Some maybe comfortable continuing to hold them, but the track we are currently on is not a sustainable one, and when the day of reckoning comes, i don't want to be trampled rushing to the exits. | |
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Germany also continues to take back gold.
