Suppose gold hits 50 grands an once

[Mozart]

At that point everybody will sell their gold, right?
But who will buy it from you?
Who will invest in gold at 50,000$ ?
Nobody has any obligation to buy your gold.
Do you really think that Peter Schiff will give back his fortune to you?

[StreetsOfGold]

You're describing hyperinflation.
Most folks here do not think this will happen, even though in theory it should already have.
TPTB will make sure the events in which the path to dollar zero are "structured" to make the transition to another currency (or more likely, the MARK, REVELATION. 13) is "contained"

[Shami-Amourae]

If it hits $50,000 a loaf of bread will cost $500.

[madfranks]

At that point everybody will sell their gold, right?
But who will buy it from you?
Who will invest in gold at 50,000$ ?
Nobody has any obligation to buy your gold.
Do you really think that Peter Schiff will give back his fortune to you?

They'll buy it because $50,000 will have the purchasing power of $1200 today. When we're talking about $50,000 gold, we're talking about a currency collapse. $50,000 at that time will not have the purchasing power of $50,000 today. If this ever happens, the hope might be that since our debts and mortgages are in dollars, that you can sell an ounce of gold and pay off your mortgage with severely devalued dollars. Of course, I expect if anything like this occurs, that they'll swiftly pass a law allowing debts to increase with inflation, so your $150,000 mortgage is now $6.25 million.

[Hitch]

Mozart, fiat currencies are like people, they have a finite life span and die. Over 2000 fiat currencies have existed throughout history, and not one survived. What will likely happen, imo, is a major currency war, everyone will hyper inflate and they will issue in another world based fiat currency. It will happen quickly, and I bet everything is in place. During this time, the elite will steal even more wealth from the masses. Gold, and silver, will be a store of wealth during this time.

[ximmy]

problem solved by adding zeros

Venezuela Is Adding More Zeroes to Its Currency to Deal With Hyperinflationhttp://www.bloomberg.com/news/articles/2015-08-26/venezuela-said-to-ready-larger-bank-notes-as-inflation-soars

Venezuela is preparing to issue bank notes in higher denominations next year as rampant inflation reduces the value of a 100-bolivar bill to just 14 cents on the black market.

The new notes -- of 500 and possibly 1,000 bolivars -- are expected to be released sometime after congressional elections are held on Dec. 6, said a senior government official who isn’t authorized to talk about the plans publicly.
Many Venezuelans have to carry wads of cash in bags instead of wallets as soaring inflation and a declining currency increase the number of bills needed for everyday purchases. The situation is set to get worse.

[palani]

Years back (so it is told) Alexander the Great died and his once invincible armies roamed Europe as tribes without a land. One such tribe settled in Saxony (now Germany) where the locals suffered them to sojourn. After a time a young Captain offered a local all of his gold in exchange for as much soil as he could carry. The local took him up on the offer and counted himself a rich man while the rest of the tribe the Captain belonged to counted him an idiot.

He took the soil and spread it far and wide and then told his men that this is now your land bought and paid for. This put a different slant on the problem and there were a few battles which the locals lost. In the end the land deal stood. Taking up land requires a ceremony called livery of seizin ... it involves the seller casting a clod of the earth bought onto the buyers cloak. This is merely a token but represents the entire transaction ... possession occurs with the buyer accepting the clod. The clod actually is the transaction.

So you might see in this example why gold is called portable soil. Trading something shiny and hard for something to fight for is the purpose rather than trading for something made of paper with a lot of zeros.

[KenJackson]

Venezuela Is Adding More Zeroes to Its Currency to Deal With Hyperinflation

Decades ago when I visited Mexico, I noticed some old pesos were marked as 1000 pesos, but they were only accepted as one peso. When I asked about it, they said look at the newer ones--they aren't 1 peso, they are N1 pesos. They added an 'N' (for new or nuevo) and wiped out 3 zeros. Apparently I missed the phase where they kept adding zeros.

So I wonder if the Fed here in the US will reintroduce the $1000 bill and eventually a N$1 bill to replace it.