RE: RE: RE: RE: RE: RE: Price of gold "I have to take exception with HonetAbe's faith in the survivablity of the US$. The above paragraph he wrote on his last post reveals that he believes in, and trusts, the current fiat currency economic model."
No, that is your (mis)interpretation of what I think or believe in. All currencies are in a race towards zero in the long run since each country is competing for investment, business, etc. But to think major currencies actually going to zero and becoming worthless ... within your lifetime ... very unlikely. There is nothing EVIL or WRONG with a fiat currency model. Commerce and global trade would never flourish to modern standards if everyone still conducted trade with hard currency. What has brainwashed everyone's mind are those gold/silver conspiracy sites such as King World News, Sinclair, GATA, etc and tricking them into believing that fiat currency is the root of all the problems. The problem is with corrupt governments and bankers and not fiat currency.
There have been times in history when new fiat currency has been created and issued that were not under the control of bankers and guess what happened ... colonies flourished, business was good, lots of employment opportunities, and economic prosperity was the result. Such a time was early America when the first Europeans colonized. Of course this was unacceptable to the bankers and the end result was a civil war in order to crush such rogue banking/currency model that was not under their control. This is proof that it is not the fiat model that is the issue but when governments end up out of control due to either the evil nature of usury (i.e. charging interest) that creates unpayable debt or power hungry bloodlines that control the political puppets of government for their own selfish benefit to the detriment of the general population.
Anyways, the simple conclusion is that there will be a time and place for precious metals but now is not that time. But you can still hoard gold and silver bullion and sit on your cans of beans if that reassures you more.