A Question About Gold Values

Actually, the Fed has not printed trillions of dollars. I believe the current estimate of US Currency is about 450 billion. Most assets in this day and age are held "digitally", or as we say in the biz "on electrons".

When the Fed bailed out the Banks, they did not print any money. They simply ( ok, it was complicated, but for the sake of this discussion.....) told Chase et al, that they could add X dollars to their books. When a Corporation paid them back, they never physically transferred any funds. They simply gave back the ghost dollars that they had been given. A slick trick actually.

I wonder if when I pay my taxes I can just tell the IRS that they can now add X dollars to their books?

And just to be a contrarian, I firmly believe that Gold is in a bubble. One of the minor signs of a bubble seems to be lots of people saying it is not, and can never be a bubble.

As a note, a canvas of the local scrappers has amount of gold being turned in sharply down, and silver up a bit. But for the first time most of the scrappers report that the silver they are receiving is mostly in the form of silver objects (i.e. plates, cutlery, ect) rather than coin.

It seems to me that eventually you have to reach a point where the available scrap dries up. At that point does the price of gold go up because of reduced supply ( which is logical) or does it go down as an entire class of people have now divested themselves of excess precious metals

You KNOW that you are in an "oh, crap" period of inflation when people find an unguarded wheelbarrow full of money somewhere, dump the money onto the ground, and steal the wheelbarrow.

Lol, that was my whole point Merlin, my whole point!