> Remember that when gold goes up in price, it really means the value of USD is going down. If one ounce of gold were to suddenly cost $100K, people would immediately dump dollars. Interesting this hasn't happened. Congress kept the price of gold roughly flat until gold ownership was made illegal by FDR's executive orders. That's when real inflation started. Inflation went into hyperdrive when we left the gold standard (i.e. cut congress out of gold/dollar fiat pricing) but prohibition on gold ownership actually kicked it off back in the 1930's. So now that it's legal to own gold again, and even congress lost control of the money printer, you have to wonder why people haven't moved back into everyday trading gold for goods and services. If these conditions existed in 1850, the dollar would have died and gold would have become the defacto currency.