Douglas Korthof

Is Barrick Responsible for $1,000 Gold?

Well, I'm a gold-bug, but you make sense to me. In the long run, gold (and other commodities, for that matter) are going to go up in relation to fiat currency simply because they can print more of the currency while commodity supplies are limited. But that doesn't mean commodities will always go up; while limited, the supply of copper, for example, can swamp any bull price of $5, at least for right now. It's a big world out there.

Similarly, while we may see $2000 (or even $20,000) gold even in our lifetimes, if the world gets that weird, it might make sense to stockpile food, water and other necessities; the fate of fiat will be the least of the worries.