The American Empire in a Changing World


Tuesday, June 19, 2012

''Gold, Gold Mining Shares, and QE''

a great read...........From Tocqueville

...............''the viability of a fiat currency system depends in large part on a widely shared sense as to the political legitimacy of the issuer. In purely monetary terms, the euro crisis will ultimately seed doubt as to the utility and efficacy of any fiat currency system, including the dollar.  The life expectancy of faith based currencies is, in our opinion, quite short.  Whatever path the loss of faith takes is impossible to know, but the result will undoubtedly will, in our opinion, result in the permanent re-pricing of gold in terms of defunct paper currencies.''

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