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Gold Will Be the Final Currency

Will gold regain its monetary standing and will it again back a major currency as in previous centuries?

Readers on www.deviantinvestor.com responded to my question about the creation of a gold backed currency by July 2017. The voting shows about 78% believe that within 3 years there will be a gold backed currency – perhaps issued by China, Russia, or even the United States. This is sensible because readers on the DI site are generally pro-gold and suspicious of unbacked debt based paper currencies.

Should you convert some paper or digital dollars, euros, pounds, and yen into physical gold? What is your “Plan B” in case paper currencies and over-valued stocks and bonds approach their intrinsic values – at much lower prices?

More to consider:
1) How much central bank gold actually remains in their (unaudited) vaults? Has most of it been shipped to Switzerland, China, India, and Russia?
2) The precedent for “bail-ins” was set in Cyprus last year. Further bail-ins could occur in Europe and the United States in the event of another financial crash. How safe is your digital bank account if global monetary systems repeat the 2008 Lehman experience?
3) You could trade digital currencies for physical gold and reduce your anxiety level.

Source Deviant Investor

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