Gold Price Spike? End Of Dollar Begins?

[Atheist-Lite]

http://www.bbc.co.uk/news/business-13184951

Gold and silver prices jump to new record highs

The prices of gold and silver have hit new record highs, driven by a weaker US dollar and continuing tensions in the Middle East and North Africa.

Gold rose as high as $1,518.30 (£918.70) an ounce during morning trading in Europe, before falling back.

Silver briefly reached an all time high of $49.79 an ounce before retreating to $49, still the highest since 1980.

Investors have been buying precious metals as a haven against inflation and recent geopolitical turmoil.

Analysts say gold could even trade even higher.

(continued)

[Rum]

You know something? I didn't have to look at who posted this. I just knew immediately who it was!

[Coito ergo sum]

If we don't stop flooding the economy with printed fiat dollars, then yes. Quantitative Easing, indeed...they are quantitatively easing a big dick in our collective posterior...

[JimC]

We mine quite a bit of gold and silver in Oz...

[Atheist-Lite]

It isn't crisis mangement anymore, hasn't been for some time.

[Svartalf]

If we don't stop flooding the economy with printed fiat dollars, then yes. Quantitative Easing, indeed...they are quantitatively easing a big dick in our collective posterior...

That's been the case ever since they stopped requiring national banks (in your case the fed) to keep precious metal reserves that could guarantee the currency... that was after WWI wasn't it?
Nowadays, the only way to keep value up would be to reduce the available amount... and while I see how they could reduce the available bills and coins in circulation, I haven't the slightest idea how you control monetary creation in a rampant digital economy...

[Atheist-Lite]

If we don't stop flooding the economy with printed fiat dollars, then yes. Quantitative Easing, indeed...they are quantitatively easing a big dick in our collective posterior...

That's been the case ever since they stopped requiring national banks (in your case the fed) to keep precious metal reserves that could guarantee the currency... that was after WWI wasn't it?
Nowadays, the only way to keep value up would be to reduce the available amount... and while I see how they could reduce the available bills and coins in circulation, I haven't the slightest idea how you control monetary creation in a rampant digital economy...

You can't. Things may become a little bizarre as we enter the coffin corner on this and then the digital economy will come to a abrupt bad end as the oil and food runs out, or stops being distributed / left to rot in the fields so it is worth more but only for the computers....and they won't last long without people.