In a posting from the Gold Anti-Trust Action Committee (www.gata.org)
Gold will outlive dollar once slaughter comes
John Hathaway writes –
The world’s monetary system is in the process of melting down. We have entered the endgame for the dollar as the dominant reserve currency, but most investors and policy makers are unaware of the implications. The only questions are how long the denouement of the dollar reserve system will last, and how much more damage will be inflicted by new rounds of quantitative easing or more radical monetary measures to prop up the system.Whether prolonged or sudden, the transition to a stable monetary system will become possible only when the shortcomings of the status quo become unbearable. Such a transition is, by definition, nonlinear. So central-bank soothsaying based on the extrapolation of historical data and the repetition of conventional wisdom offers no guidance on what lies ahead.
For the remainder of the article read this: http://www.bloomberg.com/news/2010-10-29/gold-will-outlive-dollar-once-slaughter-comes-commentary-by-john-hathaway.html
While there are plenty of media pundits who proclaim that gold is just another bubble, I myself agree with the folks at GATA and elsewhere who see the currency wars as just another aspect, although a significant one for ordinary folks, of the systemic economic/ecological/energy crisis. In my opinion, to navigate the uncertain times ahead, it certainly would be prudent for all to accumulate some gold reserves (real gold, not ETFs or gold stocks only).