A general acceptance of the principles of the flexible [currency] standard must therefore result in a mutual overbidding between the nations. At the end of this race is the complete destruction of all nations' monetary systems.
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Yes, this is why at Chinese bank you can take your pay in gold/silver instead of Yuan, the government actually recommends it. Yes, the eventual debt destruction will be one for the record books. All money gets printed into worthlessness, it's fact, politicians and people can't help themselves, greed over rides common sense while simultaneously believing in do overs because it's been done before. It's not an if, it's a when, and yes, the acceleration in metal's prices show's the desperation of world economic competitiveness. It's kind of scary watching central banks and governments stack gold by the ton, this is of course not unheard of, but desperation is in the air, and repatriation of gold is occurring now. But since Germany is going to take 7 years to get it's gold back, that means the Euro will be shouldered by the U.S. at least until then.
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