Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Rarebird who wrote (70102)	8/4/2008 2:03:17 PM
From: Maurice Winn	Read Replies (1) of 74559

I was calling the shale excitement a gold rush because of the fever element. The government is even more repressive in many ways than back in the day so yes, it is quite possible that gold would be confiscated in the national interest, under emergency, to start a new currency. But there are other possibilities, which are more likely. As financial institutions go bust, the government can back them all, taking over the mortgages as they go belly up. The mortgagee shareholders lose their money. The government then owns umpty million properties which they rent to the "owners" at whatever the market will bear. The government prints a reissued USA using a the mortgaged assets as collateral. If somebody wants their US$ paid out, they could swap it for a house, or part of a house [a group of people could combine their new US$ to buy one]. Gold has had its day. It will NOT be coming back as the world's currency. There isn't enough of it. There is lots more silver so between gold and silver there could be a world currency. But the prices of them would be so high that it would set off a ridiculous gold and silver mining culture like the Easter Island moai culture. Mqurice

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