Phil > I don't know if it is a disdain for the concept of gold as an exchange medium
Those days are past and, despite all arguments to the contrary, gold as an exchange-medium will not return except as "play-play", egold or when some clandestine deal is to be conducted outside of the banks.
> the recognition and acceptance of all the B.S. surrounding the fiat dollar and its inherent dishonesty
I don't get angry about that. I accept it for what it is. No, what upsets me is the myth, propagated by various messiah-like personalities, that gold is "safe" when, in fact, nothing is further from the truth. Gold is, today, a commodity like any other and, as such, has a currency-hedge quality, especially in times of inflation or anticipated inflation. Therefore, there are times when it pays to own gold/instruments and times when it doesn't. People who "play" gold must recognize they are speculating. This no-one tells them.
I don't see gold as "propped-up". There is a certain steady demand for it, mainly for jewelry and a little for industrial uses and investment. The the main producers and users seem generally happy with that. When the price rises on speculation, as it did, demand, especially in the East, falls off considerably. |
