Gold is now the only currency left

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PostWed Apr 28, 2010 8:45 am » by Lighthouse


Despite the rise of the dollar on 'safe haven' buying (ironic isn't it), the only real currency left is actually gold (and silver).

All the fiat currencies are de facto worthless since the states issuing them are simply broke (sovereign debt default to come soon for multiple European countries and US states).

It won't take long before people start realizing this and panic will break out with bank runs, bank closures and hyperinflation or forced devaluation of their currencies.

Of course food and shelter will always be more important than gold and silver, but if you have some dollars or euros to spare; buy a gold or silver coin, you won't regret it ;)

This is the interview on CNBC:
(the part on gold starts at 1:40)

http://www.cnbc.com/id/36792634
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PostWed Apr 28, 2010 10:01 am » by Aardvaaks


Accurate wake up post Lighthouse.
I think with recent events coming to light of Salted gold bars from the US to China and also the astute Gordon Brown selling the UK's stockpile of Gold reserves when the value was at an all time low, coupled with the statement from our chancellor Alastair Darling indicating that the British Government would still take advice from Goldman Sachs then, this is all manna to a conspiracy theorist! repercussions globally.

Do you also have heavy TV advertisement for cashing in gold from the general households in Sweden?

http://www.timesonline.co.uk/tol/news/p ... 655001.ece
http://ronpaul.meetup.com/281/messages/ ... ad/8150039
http://www.telegraph.co.uk/finance/news ... nment.html
' I'm leaving because the weather is too good. I hate London when it's not raining'.
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PostWed Apr 28, 2010 1:31 pm » by Lighthouse


Do you also have heavy TV advertisement for cashing in gold from the general households in Sweden?

Absolutely, like everywhere else in the world for the moment,
selling old gold now is just about the worst thing one can do since it is the only real currency left.
And I think it's going to be part of a transitional monetary system, before we abolish money all together.
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