Dominique Strauss-Kahn, the head of the International Monetary Fund, suggested Friday the organization might one day be called on to provide countries with a global reserve currency that would serve as an alternative to the U.S. dollar. “That day has not yet come, but I think it is intellectually healthy to explore these kinds of ideas now,” he said in a...
On that day, according to Professor Antal E. Fekete, a spontaneous gold corner could develop; but the corner would not be driven by speculators cornering a commodity to drive up its price. The corner will be caused by the refusal of those who own gold to exchange their increasingly precious metal for increasingly worthless paper currencies.
Since 1913 when the Federal Reserve first issued its debt based paper money in the US, the paper US dollar has lost 95 % of its value, a loss of 95 % over 95 years. Perhaps in five more years, 100 years after the creation of the Federal Reserve, the US dollar will have lost 100 % of its value - which means in five years - the US paper dollar will be worth nothing.
Throughout history, no fiat money system has stood the test of time. All attempts to substitute paper money for gold and silver have ended in the total destruction and debasement of the currency.
This time will be no different.
It is hubris to think otherwise but unfortunately the vast majority have been brain washed by elite media to do - which is a clear sign they're not thinking at all -
its a long hike UP to closer to fair value - gold has not started the bull run yet -
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