If gold (a mere commodity) is ‘revalued’ then that means the dollar has been devalued.
Ho Hum. Another “gold to the moon” article.
It’s not gold that will be revalued...it’s the dollar. Gold hasn’t changed in thousands of years. Every paper currency in history has eventually reached its intrinsic value of zero.
Truth, Justice, and the American Way.
Waited too late. Should have bought gold back when it was in the 1880s.
When gold is at $8,000, it will be on the way to gold at $8,000,000.
IOW, a dollar crash to zero.
You can assume gold at $8000 means all hell breaks loose on the world’s financial front, including the dollar.
If gold goes to $8000 or higher, society will be too dangerous to spend it. The have-nots will attack the haves.
I have heard this 8000 gold price for decades. I am still waiting. I have some gold that would be easily turned in if we get to 8000. I have a feeling we’ll never see that.
As part of the reset, the dollar will be replaced with a new currency.
Let’s call it a blue dollar.
Then you will be required to trade in your old green dollars for new blue dollars, probably at a ten to one ratio.
All prices reset, and debt is wiped out.
This site is a ridiculous gold pimp. Gold will never be $8000. How absurd. They’ve been saying this crap since the Dow was 10,000 pts lower. Idiots.
Of course other precious metals would follow suit.
EVERYTHING would follow suit.
Amazing how many people don’t realize that money represents relative wealth. A good suit or handgun always is worth about 1 oz of gold; all three will be (roughly) what we currently call $1000. Three gallons of gas will always be about 1 hour of mundane (minimum wage) labor; both will be somewhere around what is currently $8. Sure, the exact numbers & ratios may vary, but they’ll stay roughly the same. Increase minimum wage by fiat, and after an adjustment period you’ll find four loaves of bread cost about the same as sweeping floors for an hour. Declare an ounce of gold is $8000, and the price of a good suit or semi-custom handgun will jump to about $8000. There will be a brief period of chaos (during which some people will become extremely rich, while others lose everything), but it will all equalize out.
Declare the dollar to be worth whatever you like; prices will adjust to reflect it. Hyperinflation, and subsequent monetary collapse, happens when there simply isn’t enough value in society to pay off the debts - no matter how you redefine the fiat currency’s value.
Don’t worry about gold. World banks are rushing to a cashless society as fast as they can. In a cashless age, gold is with nothing.
Goldbug ping.
“Lay not up for yourselves treasures on earth....” Either they will leave you or you will leave them.
$8000 gold in the era of $40 a barrel oil seems unlikely.
$8000 gold in the era of $40 a barrel oil seems unlikely.