opinion Gold price above $100k per ounce and major world economic crash

[Saeid Nejati]

People work for credit in shape of digital money which accumulate in their bank accounts. And how much this money (dollar, Euro and ...) is gold backed ? Every year there are more and more amount of printed currencies without gold backed option. In near future the world economic will enter in its crisis which hasn't been seen ever. In this situation before the things get worsen conversion any digital currencies to gold (physical gold) or maybe bitcoin or other cryptocurrencies maybe a good option for people who want to protect their money and saving. Imagine gold price increase to $100k per ounce or BTC to $200k. Is it possible ? Then those domains with gold and coin keywords may be affected also. Any other insights ?

 

[koolishman]

In near future the world economic will enter in its crisis which hasn't been seen ever.

Why do you think so? Pl elaborate and give some citations if any.

 

[Saeid Nejati]

@koolishman

We are near a big hunger and anger pandemic due to corona. People are not satisfied with their governments due to lack of earning activity. Governments also try to ruin each other. The total heat in world is going to be increased. Governments forced to charge more money for researches and this mean more printed money without backing. And in my opinion this could lead us to a huge crisis at the end of 2020

 

[koolishman]

OK.

So, 100K is just your guess?

Gold to Reach $3,000—50% Above Its Record, Bank of America Says

Bank of America Corp. raised its 18-month gold-price target to $3,000 an ounce -- more than 50% above the existing price record -- in a report titled “The Fed can’t print gold.”

 

[.X.]

I think BTC is worthless mainstream , a very high risk investment. China is building something to do with BTC, but will it only be spendable in China? China is known to do things like that.

Gold on the other hand, as volatile is it can be is a good investment , if you purchase it in mid 900s per ounce right now, it’s a pretty solid buy.

although a cashless society may coming , perhaps in late 2020 or 2021, BTC isn’t the answer, each country or the world as whole will present the new currency IMO

 

[Saeid Nejati]

@.X.

I am not agree with you about bitcoin.Bitcoin is good because it doesn't need backing like Dollar. It could be a good choice. But if we want to choice between gold and BTC then it may be a little challenging.