It’s become quite popular to talk about the price of gold . . . in blogs, the press, at dinner parties. The latest topic of debate is not about the price of gold as a commodity, but about gold as the one and only king money. The basic argument is that 5,000 years of tradition will overwhelm the tyranny of modern government and the fiat printing press. The barbaric relic will defeat socialism, fascism, Obama-ism, and restore liberty to the world, after a terrible economic collapse in which gold-owning visionaries become fabulously wealthy.
Perhaps they are correct—or perhaps not. I don’t know what will happen in 10 years. However, unless civilization utterly collapses (which is what gold hoarders seem to want), the gold bubble will collapse. And I don’t mean the 10 year “bubble” . . . I mean the 5,000 year bubble.
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Perhaps they are correct—or perhaps not. I don’t know what will happen in 10 years. However, unless civilization utterly collapses (which is what gold hoarders seem to want), the gold bubble will collapse. And I don’t mean the 10 year “bubble” . . . I mean the 5,000 year bubble.
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As an illustrative example, perhaps Rep. Ron Paul and others should read up on how silver brought down a world superpower and a nascent international empire some 500 or so years ago. (China and Spain).
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