It is already clear that we cannot get ourselves out of the mess created by our management of the fiat system and its built-in requirement for the type of monetary imbalance that encourages the growth of apparent wealth (like apparent wind if you are a sailor).
Because it is clear that austerity will limit the return to economic health political bodies will opt for the solution that will destroy the value of the debt already held. That solution is inflation. Printing money.
Returning us to the human-shared notion that gold is money. The central banks have been bulking up with gold. China and the US have already planned how the movement will happen in such a way that China will not lose the wealth it presently holds in US dollars. That have been and continue to employ US dollars in the accumulation of gold. They are not alone either, all central banks have been doing the same. The super-traders job has been to manage the gold price by direct and indirect manipulation.
Regardless of the co-ordinated misdirection, miss-information and disinformation distributed through various public media one must keep focused on the real prize. It is coming for those who do not lose their heads in the storm of BS.
As Marc Faber says:
There's No More Downside For GoldGold which was trading near one-month highs yesterday, is off 0.47 percent today,and at $1,626.20, is well off its 52-week high of $1,922.
Marc Faber, author of the Gloom, Boom and Doom report was on Bloomberg TV saying gold has bottomed out:
"I'm not sure that Gold will not make a new high this year, but I think we've bottomed out and some gold mining shares have become very very inexpensive compared to the reserves they have.
And i think that in the current environment where it is clear that the worse the economy becomes the more the money printers will be at work, that to own a currency whose supply can not be increased at the will of some clowns that occupy the central banks is a desirable investment."