Is this more so for US dollars or for all currencies.
If oil is ever priced in euros (as i read somewhere) there would be even more of an over supply of dollars, but would the govt then stop printing. How would this scenario impact on gold, do you think?
I seriously considered buying it this time last year , but of course all talk. Im looking to do it now.
If you dont mind how do you buy & store it?
I don't know what would happen if oil was priced in euro's!
All I do know is that if the two largest holders of US government bonds (The Chinese and Japanese) lose confidence in the dollar continuing to be devalued they could well and truly f*** America by dumping the lot.
Then hyperinflation would hit the USA. Sounds remote but it could happen if the dollar continues to fall.
Marc Faber reckons the eventual worth of the dollar is zero. With total government liabilities heading for 500% of GDP with their stupid medicare scheme then it may well happen within a decade or two. The USA is technically bankrupt.
Buying and storing - Peter Schiff's books titled 'bull moves in bear markets' or 'crash proof 2.0' set out how to buy gold.
You also want to read about the gold pyramid -
http://www.moneyweek.com/investment...s/a-beginners-guide-to-investing-in-gold.aspx
I neded to buy some bullion! Some people say 'if you don't hold it you don't own it!'
ETFs come with third party risk. I personally don't trust holding gold in the US, UK or Swiss for the long term. I want to sell my ETF's.
If the s*** well and truely hits the fan then these countries will likely re-patriate individuals gold for worthless fiat currency to save the government. Also the US will put pressure on the UK and Swiss to do so.
If I had a lot of cash to invest in gold I would probably buy Perth Mint Australian share certificates or hold it in Hong Kong.
These countries won't give in to the USA's bullying. Australia cannot afford to lose its gold status so will protect individuals holding gold there. Gold and commodities are too important an industry to lose for the sake of helping out a crumbling USA.
And, Hong Kong too with China's backing won't give two hoots to a West looking to steal their gold off their citizens.
Warning - Gold is highly volatile and could easily crash 60-70% in its bull market. Buy on the dips. One could come soon so I would be cautious.