Relevant:
- Brodsky and Quaintance: Solution is asset monetization, starting with gold revaluation
- A bull market in amateur gold commentary
- Gold to benefit as currency woes continue
- London Trader: "LBMA Gold-Price Rigging To End; Relentless Chinese Buying of Physical Continues"
- Big Gold Producers Have Been Running on Fracking-Like Explosion of Paper Financing, Making Gold "Look Cheap"
2008-11-14 — moneyandmarkets.com
If you think this weekend’s G-20 meetings in Washington are only about designing short-term fixes to the financial system and regulatory reforms for banks, hedge funds, brokers, mortgage companies and investment banks … think again.
Behind the scenes, a far more fundamental fix is being discussed — the possible revaluation of gold and the birth of an entirely new monetary system.
...
Furthermore, I believe the end result will make my $2,270 price target for gold look conservative, to say the least.
Read the whole thing. My information is that the G20 meeting is a dog-and-pony show for the real negotiations -- along the lines Larry is talking about -- going on in the background.
The implications of monetization by a gold peg are significant. If you have no debt or only net debt, then you don't need to worry: your debt will be inflated away to almost nothing. However if you have assets, it's time to wake up. If this conversion happens, you will need gold (and probably silver) to preserve the value of any of your assets.
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