So, what does my portfolio have to do with the statements about fiat and how it ALWAYS depreciates in value?
It's a demonstration of the natural way we diversify our assets to protect against the evils of inflation.
If I have $10,000 in Chevron is that an investment in �fiat dollars� or in �oil.�
Neither. It is a dollar denominated equity of an oil producer.
You seem to be saying that gold has no value or no place.
I've said no such think. I just don't believe gold is the panacea that some people make it out to be. In addition, if you read closely, you will notice I qualified my statement to "those most affected by the famine", i.e. those who were starving to death. Gold still retained it value among those members of the aristocracy with a full belly.
Is the question gold or fiat?
That is your question, not mine.
Look at my original statement. I paraphrase, "gold goes down in a bull market". It was a simple statement regarding the simple truth that econometric modeling shows gold and equity prices are negatively correlated. The general rule is not to own gold in a bull market, but as you so aptly pointed out there are times when other variables may have a greater influence over the price of gold. In the above model, these include the size of M1 (or the running of the printing press as you call it), and commodity prices (which includes the price of oil).
If you are truly worried about a collapse, you might want to put aside a few Koku of rice ��.� Why would you allege that I have not done this?
Actually, I intended to put in a disclaimer (that I missed), ...if you haven't, or a few more if you have....
My apology.
[quot]Did you include that statement because you think I disagree with it? WTH?[/quote]
Why would I only include statements I thought you would disagree with? I thought we were having a conversation?
My guess? Two to eight years if we do not have significant armed conflicts.
I give you credit for making such a bold prediction.
How severe do you think it will be. Are we talking 2008, 1929, or people in this country starving to death in the streets?
