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Strategies & Market Trends : The coming US dollar crisis
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To: benwood who wrote (26097)1/6/2010 2:39:55 PM
From: ggersh1 Recommendation  Read Replies (1) of 71477
 
"Gold IMO is a store of wealth,"

so it doesn't matter whether it's worth
$500 or $10,000 as all those Dollars are worthless.

Yes purchasing power and store of wealth are different but basically the same.

"If I was a betting man, I'd say that in the next 20 years, we'll see a decline the $US of 50% or more, but less than 100%. So in twenty years, you can use some number of dollars to buy an ounce of gold, showing that the dollar is still a store of value, but one in which the purchasing power decays fairly rapidly. One had better get a really good yield, e.g. about 10% per year before tax, to have any hope of keeping up dollar-based purchasing power.

Even as gold keeps up, however, one's purchasing power will be nicked by the tax octopi the moment one converts that gold back into the local currency."

Agree with that except for the value of the Dollar. I think your being very optimistic in that regard -g-
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