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Returning to a Gold Standard Is a Bad Idea
Further, if several countries would adhere to a gold standard, we would immediately have a world currency. Any country could join unilaterally, without approval by some central body and restrictions.
I fail to see the disaster imagined by the author.
It's the End Of the World As We Know It and I Own Gold
Then, buy bullion. Gold is compact, very, very, very easy to hide, unless you're a billionaire.
Then, if you have something left, buy miners.
If you don't put up any signs like "Food & Gold Here", you will be OK.
This is not the apocalypse.
AIG-Backed ETCs Trading on European Markets Again
Is the Commodities Bull Market Over?
Is the Price of Gold Artificially Depressed?
"Gold is money. That's it". J.P. Morgan
"Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights." - Alan Greenspan
"Gold still represents the ultimate form of payment in the world. Germany in 1944 could buy materials during the war only with gold. Fiat money in extremis is accepted by nobody. Gold is always accepted." -- Alan Greenspan 1999
"There can be no other criterion, no other standard than gold. Yes, gold which never changes, which can be shaped into lingots, bars, coins, which has no nationality and which is eternally and universally accepted as the unalterable fiduciary value par excellence." - Charles De Gaulle
"There are about three hundred economists in the world who are against gold, and they think that gold is a barbarous relic - and they might be right. Unfortunately, there are three billion inhabitants of the world who believe in gold." - Janos Fekete
I could go on and on....
Seven Reasons To Avoid Gold - And Why You Should Ignore Them
The Dow Priced in Ounces of Gold: Secular Bear Market Since '99
But still, dow in terms of other commodities is interesting.
Everyone Wants the Commodity Bubble To Be Pricked
Everyone Wants the Commodity Bubble To Be Pricked
How Can the Dollar Rally As Oil Soars?
The Brightest Stars in the Commodities Boom, Part Two
- few (no?) commodities have done any good in the period 1980 - 2000, not only gold performed poorly...we could use that period to bash commodities in general.
- In 1971-1980 Pt went from $90 to 1000$, gold from $35 to 850$. Gold did much better.
- In the period 1999-2007, Pt did 318%, Au 190%, Pd 10%. We found a hedge worse than gold ;). But the PM run is not over yet, we'll see what the future has in store for us.
Four Reasons for Silver to Be 2008's Best Performing Precious Metal
Do New Commodity ETFs Signal a Top?
The Brightest Stars in the Commodities Boom, Part I
17/05/2007 - Gold glows on back of clean-air movement
www.telegraph.co.uk/mo...
January 02, 2008 -- Will Gold Replace Platinum in Catalytic Converters?
seekingalpha.com/artic...
1 APRIL 2008 - HITACHI MAXELL DEVELOPS NEW GOLD-PLATINUM CATALYST ENABLING HIGHER PERFORMANCE FUEL CELLS
www.greencarcongress.c...
That would definitely destroy some demand for platinum.
If a particular commodity gets too expensive, it gets substituted. If oil is too expensive, we use coal or natural gas. If platinum is too expensive we use palladium. Or maybe gold (as science progresses). I am invested in broad commodity indices, and have a physical stash Au,Ag,Pt,Pd. I don't put everything in gold, and don't put everything in Pd either.
Inflation Fears Are Inflated