Zeev's Turnips Patch-No Politics (ZEEV)

[XenaLives]

I know I'll get stoned again for saying this - but that article contains a huge fallacy.

"Thus the big picture is a global decline in the purchasing power of paper currencies. Since gold can't be mined as fast as paper currencies are created, the ratio of real money--gold--to paper currencies spins up and off into the wild blue yonder. Ultimately, when holders of paper realize the swindle that they've been caught in, there'll be a panic to transfer their paper "wealth" to real money. That's when the panic for gold will begin."

This article is urging individuals to hold gold for long term. I beleive technology will dramatically change the way gold is mined and increase its availability within 20 years. At that time the value will plummet.

I believe that this is the reason that governments are liquidating reserves and the fear mongers advocating private ownership of gold are part of a pump and dump scheme.

No need to respond - but I believe that individuals need to consider this possibiliy before converting assets to bullion.