Five important properties of Money. I was talking about gold crashing, gold as the anti-currency, gold as the ultimate money, Do you really know what money is? The difference between money and currency, and why I am a buyer of metals.
In history, many “things” have been labeled money. Shells, tree bark, stones, plants, etc. But all of them lost their attractiveness and people turned back to gold and silver. Will the crypto currencies likewise eventually be shunned for something more 3 dimensional like the metals again? Time will tell.
Each day that goes by brings us one day closer to the “end game.” One would have to be genuinely silly to try and put a date on that event, but you all know it’s coming. The US dollar’s days as the world reserve is going to come to an end.
But now it’s stirring again. While it is still trapped below 1300, what we do see is the gold miners have really perked up.
They’re buying it for a reason and the reason isn’t to lose money. It’s stability, it’s diversified reserves, it’s a way to “back” their currency.
In short, when China really starts buying, it’s not going to be able to disguise it any longer. And that could cause a run on gold like the world has never seen before.
The coronavirus's impact on mining not only prevents an expansion of supply, but may actively shrink new production at the very moment gold demand is surging.