Kees33 schreef op 2 december 2011 23:38:
While the fiat currency crowd still pound their chest yelling “it’s fiat”, that same nonsense existed for 19 years when gold fell from 1980 into 1999. Why did it not matter then? Because it still doesn’t matter now. Gold is the PERFECT hedge against political instability. That is why it has rallied. It’s the DEBT CRISIS not what money is! Gresham’s Law is that bad money (debased) drives out good money (not debased). People hoarded the old coinage because Henry VIII debased the precious metal content aggressively. He was broke even after confiscating all the property of the Church and melting down every altar piece he could find made of silver or gold.
Gold is a hedge NOT against money, but against political instability. Just when you thought you were living in a free society, the freedoms we once had in the West are crumbling to dust and things could not be taking any worse direction than the latest Monetary Dictatorial Powers as they are unfolding. I began getting wind of something being wrong when a conference attendee from London tried to wire money for his seat. The money went into LIMBO at HSBC and they initially told him they wanted my personal details before they would release the money either to me or return it to the sender. Something was strange for if I had an account in the USA to which funds were to be sent, then the receiving bank was responsible for the “know your client” bullshit. It made no sense that HSBC needed my personal details. Eventually they returned the money to the sender only after a month or so. Then it happened again also from the UK. Then it happened from Hong Kong. Something changed. Why should there be a problem with money coming in from any country. The receiving bank has your details. Since this was the sending bank, they did not legally require my details. It began to smell like a rat. It turns out the USA is now tracking ALL wires coming into the country tracing them
etc.