Boockvar: Gold and silver will be the last ‘currencies’ standing

07-Jul (CNBC) — The era of modern day monetary omniscience is coming to an end.

Look no further than the near 30-percent year-to-date rally in gold that has it sitting at 28-month highs and the almost 50-percent rise in silver this year to near two-year highs.

Look at gold as the anti-fiat currency. The one that can’t be manipulated, debased, and conjured up electronically at one’s whim. One has to actually dig it out from the ground. Thus, it is referred to as “precious” as there is a limited supply.

While all the gold that has ever been mined still exists, you can fit it all in two Olympic-size swimming pools. It is a rare commodity – actually, I’d rather refer to it as a currency. And rare is not something that can be said for the world’s paper currencies that have been and continue to be printed in the trillions.


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