Somebody is, and always has been, willing to pay a good price for gold. This has been the case for thousands of years so your dismissal of Gold and Silver’s intrinsic value is off-target. People value them for their durability, ease of transport, and wide acceptance — and so their function as sound money has been and will continue to be as solid as their atomic weight.

You sure like to get bogged down in insignificant details such as my using a trade with a Chinese fellow to point out that moving large amounts of gold here and there has never been the common way to settle accounts. Gold depositories in two distant locations re-allocated holdings instead of actually moving the physical bullion. Obviously small players like you and me will trade using fiat currencies so your straw man argument here about my using a bullion bank controlled by the Chinese government is just that — a straw man argument which misses the big picture. When the monetary system shifts back to sound money the Giants will use the trusted mechanisms they have been using for thousands of years. If little guys want to keep their savings in sound money and even trade it, that too will be easily accommodated using mechanisms such as which exists now takes advantage of US bullion coin legal tender tax laws or which has huge international partners and pays dividends for using the system or which is on the forefront of re-establishing a gold bond market that pays a yield on gold paid in gold.

The day when we stop thinking of gold in terms of dollars and instead think of dollars in terms of ounces of gold will be a good day. The day when governments remove legal restrictions which treat gold and silver as strictly commodities instead of real money will be a good day. This day of reckoning is coming and those who own some gold will be better off during the transition period than those who own no gold.

SGI Buddhist, Loves Irish and Latin American Literature, History buff, knows a great deal about Medicare

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