- the end of gold - , page-6

David Bailey sees everything through American eyes. Americans are very insular and parochial.
Gold is global - it's a more reliable global currency than the American dollar or the Euro or the weakening pound.
50% of the reserves of European central banks are in gold. Does he think they are about to sell it to move into fiat?
Gold has been around longer than David Bailey. It has the same purchasing power today as it had 2,000 years ago.
It may indeed spike but the chances are it will survive this economic catastrophe better than any paper dollar. That's why it is being bought and hoarded.