Next year expect the emergence of gold backed credit cards!!! This in itself is going to be bullish for gold and is in theory self promoting until a saturation point is reached where a maximum number of persons owning a gold backed card is reached. Explanation: The banks backing this card utilize a massive store of gold. When you make a purchase they sell off the equivalent in gold to pay the store in dollars. If gold goes up in value... goods end up costing less because the amount of gold the parent bank needs to liquidate to pay for that good falls. If customers pay less for goods it will promote ownership of such cards. As ownership of these cards grows, so does the demand for gold as the bank providing the card will need more gold to continue its service. Increased demand for gold will drive the price of gold up, making goods even cheaper for everyone with these cards and starting the process all over again.
This can be loosely interpretted as an inverse ponzi scheme.
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