Loading ...Must read… This guy has got it!
https://seekingalpha.com/article/4338960-gold-is-money-dollar-is-only-gold-intermediary
Whatever Rafi writes is gold (pun intended)!
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However, gold is money, in actual reality, right now. The US dollar only has any value itself right now because gold standard or not, the US dollar began as gold and is still exchangeable for gold right now. It can still be exchanged for gold for about $53.50 a gram.
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Another worthwhile quote:
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The Dollar’s Only Real Function
The dollar’s only function is a means through which governments can skim off the top of our production. It doesn’t accomplish much anything else.
That skimming off the top is quickly coming to its final end. The dollar will soon die, my guess within the year, but gold will still be money. You can’t eat it, but you will be able to trade it for food, shelter, defense, or anything else you need for that matter. So get some with your dollars, before it becomes impossible.
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His premise is that Hyperinflation will happen within the next year,,, causing the dollar to lose all value. I wouldn’t bet on that.
Yeah. Timing issues and forecasting is a hard business. But I’m expecting surprise inflation… as Mike Maloney says in Ep7 of “Secrets of Money”.. when a shift in crowd psychology happens.
I challenge anyone who buys food or anything else to try and pay with gold. Good luck! Dollars? Yep. Reminds me of the idiots who think the government can convert to digital money instead of paper dollars. Another fiction that is not going to happen for a very long time.