I laugh when people tell me a return to a gold standard is impossible
because, in their own words, "there is not enough gold." They should
listen to themselves. What does scarcity imply? There is always enough
gold to back a currency. The only question then becomes at what price?
The money-printing madness will come to a terminal end at some point.
And it won't be pretty.
The same people also laughed when Bitcoin advocates were touting
Bitcoin's virtues when it was ten cents. Now that it's $3400, the
critics aren't laughing anymore. And guess what? Gold is a safer haven
than cryptocurrencies will ever be. Ask anybody who's been hacked or
had their Bitcoin stolen, or when a Bitcoin exchanged collapsed. Two
wrongs don't make a right.
https://www.bullionstar.com/blogs/bullionstar/gold-price-usd-65000oz-in-5-years-2/
Wednesday, August 16, 2017
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