<i>This happens all. the. time.</i><p>You&#x27;re talking about two different things.  No one is disagreeing with the fact that gold is a fine hedge against local currency fluctuations.  As you say that happens all the time.<p>The question is whether gold will have any significant value after some global cataclysmic event that is so extreme that it would literally drive the value of the worlds most dominant reserve currency to basically zero.