Gold Has Become Just A Symbol Of Wealth Rather Than Intrinsic Wealth. The Possession Of And The Production Of Energy Is The Wealth Of Nations.

Implications: Gold has no utilitarian value whatsoever. Oil, however, is intrinsically the single most valuable commodity in the world and will remain so until the production of electric energy and the fueling of ordinary passenger and freight carrying vehicles in a nation no longer uses more oil than that nation using the oil can produce for itself.   It is simply not possible today for a nation to be economically self sufficient without either producing or burning oil for energy. The possession of gold or even of any utilitarian commodity without oil is today without real value.

Analysis: The twenty-first century global economy runs on energy. Nations which do not have the natural resources to produce sufficient energy domestically to meet their demand are in danger of becoming energy bankrupt and can avoid that status only by producing enough goods and services that other nations desire, or need, to enable them, the energy debtor nations, to obtain oil from energy creditor nations by trading their goods and services for oil.

The United States, although it has an abundance of oil, coal, and gas along with uranium, thorium, wind, and sunshine nonetheless exports between 5% and 10% of its GDP each year to nations that have no industrial base, no technology base, and no hope of developing such rudiments of self-sufficiency and any of which may cut the US off from its oil or sell it to a higher bidder at any moment.

This is because the greedy short sighted financiers and politicians of the so-called American establishment believe that the free market operates at all times and in all places to ensure that 1) all commodities are available if only one will pay the going price and that 2) increased demand ensures increased supply.

American activist environmentalists insure by enjoining production of energy natural resources in America that the lowest technology , least interested in human rights, and least friendly nations in the world continue to use up human lives and pollute at will so that they, the American self-obsessed elites can fly their private jets, operate their yachts and houseboats, and light their mansions on the broken backs of Chinese miners and Nigerian and Filipino and Palestinian, yes Palestinian, low paid laborers.

Actually now that the price of oil is rapidly going down again at least many of the low paid workers in the non-North American oil industry will be able to starve to death rather than being worked to death in a fog of noxious gases, liquids, and particulate. 

The American middle class and working poor are fed up with elitist pretensions to telling everyone how to live and is rapidly losing interest in luddite environmentalism and global warming fantasies of inevitability of disaster. 

Until the US is self sufficient in energy it is in danger of energy bankruptcy.

The world judges that risk by the value it gives to the US dollar not the price in dollars that some will pay for gold.

Simply the hope that America may move towards energy self sufficiency is driving the dollar upwards.