Gold is a Currency

"We have long been told that gold is a commodity–that it is no different than a bushel of corn or a barrel of oil. In many newspapers, it is listed under the commodity section. With the advent of the Federal Reserve’s recent announcement of “unlimited” Quantitative Easing (QE) or money printing, that has changed. The view of gold as a commodity has circled back to what banker JP Morgan proclaimed to Congress in 1913, “Gold is money and nothing else.” Many folks in the blogosphere have long agreed with the original JP Morgan. It was the rest of the fiat world that wanted us all to believe the enormous lie that gold was only a commodity and not money. Never mind that every central bank on the planet holds gold (and have been buying gold hand over fist for the past few years).
Now, a modern day version of JP Morgan is telling the world, “Gold is a currency.” That’s what $120 billion hedge fund manager Ray Dalio said recently about the yellow metal. Dalio, founder of Bridgewater Associates, doesn’t give many interviews. So, I find it very telling that when he does speak, he says, “It’s not sensible not to own gold.” When asked if he owned gold, he quickly replies, “Oh yeah, I do,” and said people should have “10%” in their portfolios. (Click here to see the complete Ray Dalio interview.) This is what Mr. Dalio said the day before the Fed announced its now infamous “unlimited” QE.
Just last week, Dalio was riding the gold band wagon again and told CNBC the yellow metal “should be a part of everybody’s portfolio to some degree, because it diversifies the portfolio. It is the alternative money.” (Click here for the complete CNBC story.) I find it interesting the man Time Magazine included in its 2012 “100 most influential people in the world” is sounding this warning. I can only speculate, but I wonder what he sees. Is it a banking holiday? Is it a Treasury bond bust as holders of U.S. debt sell in a panic? Does he see inflation or hyperinflation down the road? I wonder if he is anticipating a new currency, or a global derivatives meltdown that leads to a worldwide depression. Maybe it’s all of the above. I don’t really know what he sees, but he sees something, and gold is his choice to counter a black horizon..."

at  http://usawatchdog.com/gold-is-a-currency/