HonestAbe  and bendmeover, thanks for the critique I really appreciate it, you have valid points and I have never stopped learning.

I am not a gold bug and I have spent a fair amount of ink so to speak poking holes into the gold camps assertion of gold being the only holy grail for a cure all of our economic ills. What I did say in my last post ( my intent ) was not that all currencies will be backed by gold, which would in any case be fractional or percentage backing, but a return to at least pre-1971 gold backing for international settlement. As it stands now no one wants to hold anyones currency on trade because of loss of value, a game of musical chairs is going on amidst mass currency speculation. With a gold backed currency this game would stop because the funds or assets can be parked there until needed without loss. 

Abe, you say the gold standard did not work back then. Give me an example of back then. The United States would be a prime example throughout most of it's pre civil war economy of a gold standard working just fine. In fact the civil war and the Lincoln era point out glaringly the wall that gold puts in the way of dictators and egomaniacs with power. The saying not worth a continental harkens back to Lincoln's fiat printing to fund the war. Napoleon went for the siren call of easy money too ( french paper assignats ) and was able to put 1.5 million men on the paper payroll and into an army so large that no other nation ( Gold backed ) could match it. Egomaniacs, narcissists, power seekers, and little autocrats ( brown nosers ) who have no compunction about ruling the lives of fellow beings in their lust to delegate authority fear and hate gold because it limits their ambition and ability to do great harm. Men of true evil desire it in their hands alone and use it's phony facsimile to rob the public blind.

IMG produces no automobiles, no butter or corn, no appliances liquor or wine. Just one product, poured ingots of pure gold. You are a shareholder in this one dimensional concern therefore you must have some opinion based on acquired knowledge as to the use and future of the product produced- GOLD. As it stands it does not do anything, nothing, nada, it will travel to some place and then stay there, in a vault, in a drawer, back in the dirt, who knows. It will not be used ( OK, Jewelry dentistry, da da da ) and will still be here when the sun shines it's last. Where you one of those who thought that having a little stake in a gold investment to round out the portfolio might be a good idea, just in case. Your post leads me to believe otherwise.

There is a war going on, it is not a shooting war. I call it a GOLD war. Yes, central banks and governments hold most of the cards and speaking of cards that house of fiat cards is starting to crumble, you don't have to read any gold bug stuff to see it happening right in front of your eyes. They are getting desperate even allowing painful amputations to keep their heads afloat and hoping to get control of whatever is to be born on a new stage. 

 

Willie