We're Essentially Continuing A System Where Profits

The Global Financial Crisis - Missed By Most Analysts - Shows That Most Forecasters Are Poor At Pricing In Economic/financial Risks, Let Alone Geopolitical Ones.

I Am Not Going To Say I Told You So, But I Did.

If We Didn't Have Greed, Market Economies Wouldn't Be As Innovative As They Are. But In My View, Greed Has To Be Contained By The Fear Of Losses, So There Has To Be A System Where, If You Take Too Much Risk, You Go Into Bankruptcy. You Don't Systematically Bail Out People Who Take Excessive Risks.

A Currency Serves Three Functions: Providing A Means Of Payment, A Unit Of Account And A Store Of Value. Gold May Be A Store Of Value For Wealth, But It Is Not A Means Of Payment. You Cannot Pay For Your Groceries With It. Nor Is It A Unit Of Account. Prices Of Goods And Services, And Of Financial Assets, Are Not Denominated In Gold Terms.

Gold Has No Increasing Value. And If You're Really Worried About, Say, Inflation Rising, I Would Buy Spam. You Know, You Can Eat Spam. You Cannot Eat Gold.