I read this on one of my fav blogs and if a world event happens what would we turn to as a back-up curancy? The writer makes a good point that if
people keep selling there gold to the gov then they will controll the majority (just like they do money now) and when/if that happens they can
controll what it is worth. Making it worthless if they wish to keep themselves in controll of the power. Here is the artical if you want to give it a
I've been thinking of investing in Canadian currency. The Canadian dollar is a petro-dollar. When the price of oil goes up, the value of the
Canadian dollar goes up. I'm going to have a number of Loonies and Toonies on hand as well as gold and silver when the US dollar tanks.
Cash for Gold is basically taking it from weak hands to long hands....(dumb hands when you consider that people dont know the value of their old
jewelry and sell it for 10-70 cts on the dollar). They sell it b/c a) it is up and b) they need liquidity ("cash"). They are not selling it to the
govt tho but rather to investors who are buying it.....most of the sellers sold out in the 1000-1225 area and now the longs are vulnerable to a
correction.....as we have come a long way (even tho the long term trend for fiat currency is down and for monetary metals to go up.)
edit on 20-3-2011 by CosmicCitizen because: (no reason given)
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