The Global De Facto Gold Standard

Countries and individuals are fleeing to gold and silver! Isn't it interesting how the Euro may collapse before the dollar... Although the dollar will not be far behind.

The spot price of gold reached an all-time high of $1,594.00 per ounce on 14th of July [ over 16 as of today] as more countries and individuals turn to gold as an anchor of stability. This as the two major world currencies and the twin pillars of the international monetary system are under threat of collapse.

In Europe the debt crisis has spread to countries that are the third- and fourth-largest economies in the Eurozone, Italy and Spain -- countries potentially too big to save.

It really doesn't matter which collapses first either way it will cause a cascading effect and plunge the world into a global depression as never seen before...

It is apparent that the majority of those in power in the United States refuse to recognize the dire circumstances the United States finds itself in and are captive to the false assumption that the worst case scenario could never happen here. If America continues on its present path, the citizens of this country will, to their detriment, find out that it can and will.

And now we come to the crux of the matter. So the question is how much will the people put up with before they clean house of these idiots?

In response to the debasement of the US dollar and the potential collapse of the euro, many of the emerging nations of Asia are also operating under a loose monetary scenario. Most now have negative real interest rates, such as China where inflation is running at 6.5% per year yet the one-year deposit rate is just 3.5%. The same is true in India and many other countries including the United States. Thus more citizens, if they can, are turning to gold or tangible property.

China will fail too when it all crashes which means they will probably go to war as that is what communist do and it helps keep their populace in line and culls the herd in the process.

Mr. Evans-Pritchard also quoted the chairman of Britain's largest pure gold listing, Petropavlovsk, as saying:

It is very scary: the flight to gold is accelerating at a faster and faster speed. One of the big US banks texted me today to say if QE3 actually happens, we could see gold at US$5,000 [per ounce] and silver at US$1,000.00. I feel terribly sorry for anyone on fixed incomes tied to a fiat currency because they are not going to be able to buy things with that paper money.

Read the whole article here: www.americanthinker.com...

I think it may be $5,000 gold and $7,000 silver! Once the fake paper is exposed Silver will correct to it's rightful place as rarer then even gold or more in demand because of its many industrial uses. We'll see though as long as they have some control of the fake trading they will continue to manipulate it. However when things crash gold and silver "will be the money" and not tied to any fake trading market spot price. Then they will be measured in terms of purchasing power which will reflect their true worth.

Very scary times we live in. Not only silver and gold you should be stocking up on but food as well. I think this is going to be a global event the likes no one has seen before. It will be the 2nd coming of the dark ages.

Originally posted by camaro68ss
Very scary times we live in. Not only silver and gold you should be stocking up on but food as well. I think this is going to be a global event the likes no one has seen before. It will be the 2nd coming of the dark ages.

Lets hope it doesn't descend into dark ages status. We have some pain to go through but if it degrades into complete chaos it could set humanity back 1000 years. I see lots of people looking to future models of sustainability as a means to continue forward after the collapse of the current unsustainable model.

Things like permaculture, aquaponics, alternative energy, decentralized and open source technology and manufacturing etc. There is hope for the future but we have to take our medicine first unfortunately.