The number of countries now trading their own imports and exports and dealing in their own currency is expanding… even Australia has an agreement to trade in Ozie dollars and renminbi. A few years ago the percentage of world trade done in US dollars was about 68% I think and has now dropped to around 50%. Gold will play a huge part in a new world financial developments in the not so distant future I feel sure and the USA will lose its valued reserve currency which it can now print to infinity. It has no way of paying back what it owes. It either debases or defaults. There is even suggestion that the price of gold will be revalued upwards to reflect the way fiat currency has been inflated and could then be used in some kind of gold standard together with a basket of currencies………Who knows.

Indi, you are so right, in fact I never think of you other than being right, extremely right, your definitely right. Yeah..... somewhere right of Genghis Khan! Your right out there, that's for sure! Am I right?

Come on Paul.

From way out there left of Khrushchev, you're too far away to know where anyone else is.

What is the value of gold and who says it is worth that amount. If gold was not traded it would not have a value.
Any market based commodity is only worth what someone is prepared to pay for it.
If we did not have paper money, what would you trade for gold to give it a value.
If gold was the only tradable currency how much would it be worth.

579, that's my point as well, because while anyone can say gold is worth say $1500 an once, if economies collapse (and they may well) what's to stop someone saying, il pay you $700 an once, because, if there are no other buyers out there and, you need to cash in, what choice do you have.

It's no different from someone having to sell off assets in a bare market, all too often the buyers just are not out there, so one often takes what he gets.

Remembering, the world is pretty much in unchartered waters, as we speak. In fact, many suggest America can not possibly pay down it's debts.

Let's just assume China says to the US, we want our loans paid off. The US can always say, we will pay you 60% of the debt, in gold as full settlement. What then!

Paper money is worth what is printed on the note. Gold without any printing of value doesn't make sense, you are leaving yourself wide open to the market value on the day.
Paper money is not going to be replaced with gold ever.
A vault full of gold can become worthless over night. A note has face value because it says so.
The same applies to diamonds, if it wasn't for women what would diamonds be worth.
America is not going anywhere soon, the utube is full of conspiracies from would be film makers.