Rico at Theo Spark thinks that there might be. Do read the whole piece, it's thought-provoking, but this is the key passage:
Are you 100% sure this is just fantasy?
By the way, if this did happen how much more culpable would Gordon brown be for our predicament than he is already?
'It is worth noting that George Soros has just tripled his position in Gold. Say what you want about him... he knows his currencies dead-cold is beyond question.A 75% revaluation of the price of gold would mean gold at around $2,800 per oz. Oddly that is not too far from the predictions that I have seen for gold to reach $3,000 or even $3,200 per oz. Could it go that high? Is such a 'reset' button even envisaged?
- That he has moved heavily into Gold says a lot about currencies.
...
I suggest that we may soon see a global "coordinated event" that will move the price of Gold.
- While Gold is now roughly 15% of Central Bank reserves (you know these guys, the ones printing huge amounts of paper fiat currency to try and fill the huge holes caused by our insolvent bankers ref infra), one way to increase that number is for Gold to increase in price.
- Remember what the US did in 1933? It revalued the price of Gold from $20/oz to $35/oz...a 75% revaluation for the purpose of increasing the value of its Gold reserves, AND increasing the ratio of Gold as a percentage of its reserves to currency.
Think about it.
- Could this be the secret "reset" button for a rapidly failing paper fiat system?'
Are you 100% sure this is just fantasy?
By the way, if this did happen how much more culpable would Gordon brown be for our predicament than he is already?
1 comment:
There is no gold standard so it is harder to "reset" the price of gold.
But if the world is going to hell in a handcart, borrow all you can while interest rates are low and buy durable assets. Land is good. Gold is good to.
Short Facebook (paper built on hot air).
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