Besides, if you expect the dollar to fail, as dominant fiat currencies historically have, then “the top” doesn’t matter — if the bottom for fiat is zero, then there’s no meaningful top for hard assets like gold in fiat terms. And just as you didn’t want to be the last schmo holding seashells when no sane person would give you even the tiniest sliver of gold in exchange, it’s wise of central banks to avoid being the last ones trying to trade worthless paper for gold that, when fiat is functionally dead, will be infinitely more valuable.
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Yes…all true. But you will be amazed at how long they can keep the system propped up. The criminals in power aren’t through looting the treasury so they aren’t going to let things collapse till they have stolen everything possible from us.