$10,000 Gold?
excerpted from Rick Ackerman's daily column

And how about all of those dreamers who think gold will soar to $10,000 an ounce or more when the financial day of reckoning arrives? I used to believe this impossible, but the forum discussion got me to thinking: Suppose the dollar is falling apart one day and all of those who hold paper gold in the form of futures contracts determine to take delivery? Would gold get short-squeezed into the ionosphere under such circumstances? Or would the futures exchanges simply change the rules, letting those who are short contracts slip the noose? No one can say for sure.

Nor can anyone predict how politicians will react if and when the financial system collapses. Will they push the Fed to hyperinflate, effectively bailing out homeowners? And if they do, will the legislated action succeed? One thing’s for sure: hyperinflation cannot possible occur by accident; it can only be enabled by political decision. Under the circumstances, it is impossible to predict exactly what will happen if the dollar crashes.