I am NOT an expert by any stretch – the following is more of a question than a statement:
While not a huge fan of gold for some of the reasons cited above – it is, after all, ultimately just one particularly fortunate box on the table of elements – doesn’t it at least have the advantage of being, by convention at least – universally accepted? Specifically, it doesn’t care about trade imbalances, fed rates, gov’ts inflating their way out of debt, etc. So, if one believes the dollar will ultimately need to fall in value, won’t gold provide as good of a hedge as any? While other currencies might be propped up by central bank gold (et al) should remain a universal currency, no?
Thoughts? I’m struggling to find ways to survive what I think will be an ugly fiscal period ahead (btw, looks like buying a put on FED was a good move!) and wonder if the small amount I’ve got in PMs is justified.
