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Steve G
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ALEA IACTA EST

- Egon von Greyerz - Matterhorn AM

Sirs,

As much as I like your thesis and can see the logic, like so many, it has one basic flaw which cannot be easily argued against.
By your own argument, most currencies are already more or less worthless in Gold terms, so how much lower do they have to go? Eventually, anyone who holds Gold will have to sell it to realise the protection of their wealth and/or any profit. At some point Gold will have to be used to buy back currency, as the idea that the world will return to bartering, or Gold as the only form of money is preposterous. What happens then? Are you going to have a vault full of Gold that cannot be used, or are you going to keep it in the vault indefinitely, but starve in the meantime?

If there were a total apocalypse, do you imagine your Gold would be totally safe in the care of a third party anywhere in the world? Of course it wouldn't. The vaults would have been stripped long before any apocalypse happens and anyone who was a little slow in realising what was going on, would be penniless.

Quite frankly, your scaremongering is akin to turkeys voting for Christmas.

Commented 5265 days ago

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