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RE: Why Harry Dent is both right and wrong on deflation

I see gold and silver as money too, but the only thing is that all of the traders out there treat it as a commodity. In a very long term perspective, you're better off buying the investments you believe in, but to someone like me who wants to time things, cash looks attractive at the moment.

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Cash might provide you with the opportunity to buy at lower prices. At some point there will be a critical mass of people who start to see currency as worthless debt and realise the value of gold. This will occur as a result of a system breakdown, more than likely triggered by a derivatives collapse. Everything (including currency) is built on debt. The only safe haven during a debt collapse will be gold (and other valuable, storable assets). Crypto currencies will also benefit to some extent, but as people rush out of risk assets they will prefer gold to crypto's.

I've heard of the risk of derivatives. What will bring them to collapse?

Rising interest rates more than likely.