Economic weather report: Gold price falling in NZ$ terms
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Yes, gold will buy the same things, maybe even a little more if gold drops less than all other commodities, which happened in GD1. BUT cash will buy even more. Timing is important. Gold will never be worth zero, but the price in fiat changes. Like it or not, fiat money is what people use. The PTB may actually like deflation because they can grab REAL assets on the cheap ie: steal people's REAL wealth; land, property, small businesses/banks, stocks, GOLD! I think they know what they're doing.
waldentree 2 years ago
I never say never, for all I know that could well happen. But I would like to point out:
- If all commodities fall in price, my gold buys me the same things it does now, so I have not lost anything.
- the power of fiat lies in eroding the common man's wealth, not by making him rich through deflation. PTB hates deflation
- given time all fiat currencies will tend to return to their intrinsic value of zero, and no historic precedent exists of any other outcome (tell me if you know of one)
zppz 2 years ago
Deflation. ALL commodities fall in price.
You ain't seen nuthin yet, credit is still contracting. Debts are enormous.
The PTB won't hyperinflate away their power (fiat currency) if they can help it.
waldentree 2 years ago
Could you elaborate on the reasoning for that prediction?
zppz 2 years ago
7ubJp6rmUYM
zppz 2 years ago
gold will fall heavily within the next 3 years
buy it then, as a safety net
silver too
waldentree 2 years ago
I can't buy bread or milk with gold. It has no value at Pak n Save.
linuxluver 2 years ago
Good point. The value of gold never really changes, its the 'value' of the paper we measure it in that fluctuates.
zppz 2 years ago