**Gold as a Monetary standard. As we see the decreasing yields of over spent markets beginning to decline, heads are turning towards Gold. **
The world had a round 33000 tonnes of Gold, and this is held by major countries, and the general public. The current world money supply is 24 Trillion, and the current value of Gold is around 1.5 Trillion dollars. For Gold to once again become the world Monetary standard, the value of Gold would have to increase to around $8000-$10000 per ounce, according Jim Rickards.
The potential for Gold price increase rises to over $40000 per ounce if all debt was to be backed by Gold.
Owning Gold is a store of value, and a way to have a degree of protection for times when the World financial system goes in decline. For me i like to own some Gold around 10% of my current asset portfolio, and i like to have that as physical real Gold that i can store and hold for myself. If the world financial markets do go into panic selling, the price of Gold is likely to increase sharply in value.
The subjective value of Gold is basically the price that people are willing to pay at a particular time. At this time the price of Gold is held down by Short selling in futures markets by major Banks. Russia and China have been buying massive amounts of Gold in recent years, and China now offers payments in Gold for international trade in Oil. China and Russia are playing a long term game, and they see that Gold will once again back the value of currency in coming years.
Many countries are beginning a war on cash, and this Includes India where nearly every note over $5 in value has been withdrawn from circulation. Some countries are heading quickly towards a cashless society, this is another reason to accumulate some Gold for personal protection in the future.
Gold has always kept pace with inflation, and holds up as a store a value over a period of years. In recent times we have had deflation, and Gold has held its value better than most currencies. My own view is that Gold is well worth owning, and should be held in Physical form.
Free use image from google
Cryptos are hot, but I think gold will still have its day!
every dog has its day
Hey man, I am glad to see you still kicking some butt on here. I had to take some time off, but been back and here to stay. I really hope all is well. How is the music?
I agree with you on this article. I think Gold is a great store of wealth and I have a little. I bought a lot more silver than gold because I didn't have the cash to buy the gold at the time.
Great post!
i also have more in silver and very little gold at this time -- good to see you here -rock on
Do you keep coins or bars? And travel, any idea for their safety?
for travel i use cash - i hold coins and sapphires for ease of transport if required -- i fosseck for sapphires myself and have hundreds of carats of precious gems.
Cool..sapphires are beyond my paycheck☺
So coins are ok to travel with ta!
I'm a hobby gold panner, I've only ever panned a few grams, but just find it amazing to go to a river and collect gold from it :D
How do you prospect for Sapphires?
similar to Gold using sieves in gravels from old volcanos- i live in Australia and we have some wonderful places for fossecking here -- thanks for your comment
I live in Melbourne, is there anywhere near to me that you know of worth a look? Do you know of any good 'how to' guides on the internet? Would be good to supplement my gold prospecting with another
addictionpassion!This post has received a 2.01 % upvote from @buildawhale thanks to: @daydreams4rock. Send at least 1 SBD to @buildawhale with a post link in the memo field for a portion of the next vote.
Steem WitnessTo support our daily curation initiative, please vote on my owner, @themarkymark, as a
absolutely agree!
i follow you now -thanks for comment
For more information, click here!!!!
Send minimum 0.050 SBD to bid for votes.
The Minnowhelper team is still looking for investors (Minimum 10 SP), if you are interested in this, read the conditions of how to invest click here!!!
ROI Calculator for Investors click here!!!This post has received a 5.19 % upvote from
the @boomerang whitepaper.This post has received a 2.31 % upvote from @boomerang thanks to: @daydreams4rock@boomerang distributes 100% of the SBD and up to 80% of the Curation Rewards to STEEM POWER Delegators. If you want to bid for votes or want to delegate SP please read
Hey @daydreams4rock, you're in good company here discussing sound money. I wanted to ask whether you're aware of the #steemsilvergold community on steemit (and discord)? This post would fit really well under that tag. Keep up the great work.