zalo

How Does $9000 Gold Sound?

$9,000 per ounce gold sounds really dumb to me. Gold, as paper money, does not have any usage value, apart for some medical/electrical/con... usage.
On behalf of the dollar, it still is the currency of the most powerful country of the world. A currency value is based on the type of assets you can buy with it, and everybody likes the USD because you can go with USD to the US and buy pretty much everything (from shoes, to cars, to top world class education). Can you do that with the ruble, the yuan? No, you can´t. So, anything that debases the USD vs other currencies (without huge inflation in the US, which seems, for now, its not going to happen) even against gold, i would be a USD buyer for sure.