Gold always had a monetary role through out the history of mankind, and I believe it will play a monetary function in future whether govs like it or not.
We are in currency war which is a race towards currency devaluation, recent rhetoric by the ECB concerning QE is pure and unadulterated bullshit, I think soon they will join thier own QE when one their piglets cries loudly.
Mainstream media & elephants of financial systems(pension/mutual funds) are already convinced gold is in bubble, its funny that an asset can be in a bubble without elephants ever participating in it let alone the masses.
IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced that ICE Clear Europe will accept gold bullion as collateral for all energy and credit default swaps (CDS)
http://www.mondovisione.com/index.cfm?section=news&action=detail&id=94090
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