The Fed has no control, never has. I don't even understand why people waste time listening to Yellen. It is safe to say that crypto currencies are partly born out of the controlling intent of the fed and increasing regulations from all branches of the government.
And by trying to "control" growth and volatility, they only make volatility worse when it takes hold. Remember the idea of "sustainable growth?" What a joke. Fat tails exist and will destroy those trying to fight it. Even if you have the deepest pockets in the world (US Fed) volatility will catch up at some point.
As for long term value of gold? I don't see it. Mining stock that pay a dividend yes. Crypto currencies as an investment in the future version of the technology? YES!!! But owning a gold coin is pointless as when the crap really hits the fan and you need to spend it, it isn't divisible. My business partner says: cans of tuna will be valuable in an armageddon situation. I tend to agree.
All in all, I really like the ideas in the post. Are you a fan of Taleb? Peace out and keep up the great posts!
Yellen said (I watched It) that in Her lifetime, things will remain "status Quo." ((( Ya gotta read between the lines)))>
Bullets will be worth a ton......I see people exchanging them, if there is a total meltdown situation. Cans of Tuna would be the Buillon. Spam would be worth an entire gun.