"The problem is that it takes $US 940 to buy that same troy ounce. It takes almost 27 times as many US Dollars to buy an ounce of Gold today as it did in 1971. And 1971 isn't very long ago."
No it does not. Because gold is too scarce. "That same troy ounce", is already owned by someone (probably by TJ). New Reserves of gold are those reserves required to meet forward demand and in case you have not noticed, mining companies with gold reserves are damn cheap.
this disconnect is a whole other level of this story...
a relatively scarce resource, cannot be expected to act in the role as ubiquitous transaction processor.
its silly to think that gold can ever again stand in as a proxy for currency.
It can as you say, be subjectively accumulated with pride of ownership that its luster will not tarnish. but that judgement is insufficient to the tasks of transaction processing without nano particlization.
the brics are all engaged to puffery. Why?
Because the structures of these societies are beneficiaries of global demand within the constraints of the degrees of freedom allowed within thier own economies....that record on close examination is embarrassing at best.
Quantum capitalism, understands the cycles of political hegemony, and its iterated degrees of presence within these cycles, its like we must all endure another bad production, so that the egos invested in projective identification can live out thier foolheartedness.
look at bobo in venezuela, he thought oil would be his forever means to his ends. When the whiff of that modus operandi took wind, just look what is about to happen.
Counterprogramming extortion is quantum certain, a message to these idiots run amuck.
Oil is not a fossil fuel as the claims go, its an element, plentiful, and soon to be replaced within a short time span, with respect too one of its primary applications....
in this event how will bobo's extortion momentum be sustained?
It wont and cant....so, the headlong rush to contrive a bigger slice of world capital...will be counterprogrammed by things known and unknown to those seeking to contrive outcomes which count the hubris of political aspiration, as thier only sustainable content....
its as Emerson once said, it matters not that a foundation has been built on lies, because destiny knows the truth. |
