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The Bernanke Shock

David4 Wrote: Feb 05, 2013 9:32 PM
For ordinary persons: The dollar is in danger of going bad, like the leftover crab-dip in the refrigerator. Can you buy things at the store with gold? or silver? So what do we do instead of gold or silver to recover some value from our dollars?
bwhetham Wrote: Feb 08, 2013 2:06 PM
Simple: Keep your everyday cash in dollars and anything you don't need immediately or near term you convert into gold or silver. If you ever need to spend it you simply convert it back. Yes you pay a small transaction fee both ways, but if inflation is significant that transaction fee will be far less than the lost purchasing power.
The financial world was shocked this month by a demand from Germany's Bundesbank to repatriate a large portion of its gold reserves held abroad. By 2020, Germany wants 50% of its total gold reserves back in Frankfurt - including 300 tons from the Federal Reserve. The Bundesbank's announcement comes just three months after the Fed refused to submit to an audit of its holdings on Germany's behalf. One cannot help but wonder if the refusal triggered the demand.

Either way, Germany appears to be waking up to...