Replies to post #17087 on ***Precious Metals Investors Club***

[Stinky_pinky]

Yep, dad lost his shirt investing in south african gold miners back in the 80s. I'll just say that socialism, in all it's forms kills motivation to persevere. If doctors are paid the same as street sweepers, why become a doctor (expend the effort in med school, residency etc.)? If your elderly and sick, have a hospital bed, three squares a day, and sponge baths by a candystriper, why get well? No doubt, this is what the Supreme Court is wrestling with, currently...I'm not concerned with the Renminbi becoming the worlds reserve currency because it is just another unbacked, fiat currency...that has the same drawbacks as the dollar (even moreso).
http://articles.economictimes.indiatimes.com/2012-03-25/news/31236601_1_brics-summit-brics-group-standard-bank
The world is not going to swap one manipulated reserve currency for another...I believe physical precious metals use as the reserve currency of choice is the only acceptable path available (once the european common market disbands). Until this happens, we will continue to see individual countries entering into agreements to trade in thier currencies, precious metals, other commodities, or a combination of same. IMO S_P