But Skol you seem to be missing the point. Gold has not devalued...

But Skol you seem to be missing the point. Gold has not devalued like the fiat currency dollar, which only has about 95% of its original purchasing power. What could 1970 vintage $35 USD in paper cash back in 1970 buy you now? It will buy you 95% less than it could back then, may be a cheap pair of $35 jeans from KMart now?

Consider that in 1970, the average price of gold per ounce was $36.02 per ounce. Today it is $1711.10 an ounce meaning you could buy your self 48 pairs of jeans at say $35 a pair from KMart.

Inflation and money printing kills cash money.That's why, long term cash or fiat currency has, and always will be, a lousy punt.

If you can time it, fine, if you can't, poverty beckons if you're overexposed? How can you be over exposed in the long term with gold when it has risen from $36.02 per ounce in 1970 to $1711.10 on 25 Oct 2012. What an excellent investment and rate of return.