Are you buying Gold these days? I mean really, can you go by listening to a talk show host, flipping an advertisement magazine, or have a talk with friends without the Gold issue (and the need to buy it) being mentioned?

Considering that the US dollar is plunging, I think Gold is indeed a valued commodity, but if you don’t have money, i.e. U.S. dollars to cover your weekly and monthly bills, why would you stash up on Gold? To be protected for doomsday? You don’t have money as is, so why does it make a difference to you if the dollar slides even more and Gold rises to $1,400 an ounce? Furthermore, Gold is an investment, so as long you don’t have money to buy stocks, or whatever thing you dream of investing, you should not be carried away by the talk of GOLD. It is just not made for you. End of discussion.

My point here is, that if you are a poor man out there with no extra money, the Gold Rush is not cut out for you, regardless in what context it is: If you look at it as a safety reserve for a doomed era, you will be better off stacking up on food, drinks and medications, or perhaps going on with life as is and wait for Pelosi to help you. If you look at Gold as a rising investment, you had and still have a better chance of doubling and tripling your money faster by jumping into a few good stocks available on Wall St, rather than buying Gold.

All in all I am saying, If you are an average earner, do yourself a favor and let the Gold rise or fall without your participation, just as the price of AIG shares went this year from $22 to $9, before rising again to above $37 a piece without your participation. Ouch, I just killed you: The AIG stock doubled and quadrupled at a time when Gold didn’t even do half as good.

If you thought the global population will wait for world bankers to decide the faith of the U.S. dollar, you are dreaming. Instead, bankers, money exchangers and venders worldwide are rejecting the US dollar (USD), plain and simple.

Last night I had a schmooze with a NY businessman who travels a lot to Canada where he has business interests, and follows world economic news since his business interests extends to China too. He says that just days ago, he was at a money exchange in Canada, and got 0.95 in Canadian dollars (CAD) for every US dollar he wanted to exchange, despite the fact that in the official currency market you get these days $1.08 CAD for every USD. He claims that in Israel some will give you now 3 New Shekels (ILS) for each USD instead of the 3.77 ILS the current market rate. In other places (mainly in Europe), as per this businessman, some venders flatly reject the USD, whereas just 12-18 months ago they were willing to accept it in exchange for goods.

I didn’t independently vet these specific incidences, but I recently heard from travelers that they indeed encountered such shtick all over the place (more specifically in Israel and in Europe). Not only do these stories make sense to me, it actually is expected too: people around the world have zero confidence in the U.S. money system regardless the hyped rhetoric about a recovering economy. The world population sees the unsustainable annual deficits. They see how the FDIC is in effect out of money, and they are aware that Social Security has no dime to its name. In the eyes of the world population, the U.S. dollar is now a piece of junk waiting to be burned by the heat of China and Russia asking for a new global currency.

Regardless where this global currency plan will lead, and regardless where the U.S. economy will be in a year from now, the U.S. dollar as it stands today is basically being rejected.