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Should anyone doubt the level of danger the money system faces, you only have to listen to the chairman of the Federal Reserve, Ben Bernanke, describing just why the Fed had to step in and protect the entire US financial system, which could easily have collapsed. There is no doubt in our mind that the ripples from that scenario would have sent a financial tsunami across the entire global monetary system, probably causing it to collapse.

So any item that can act outside the paper currency world, which is dependent on the performance of men and their management of wealth, reflecting a common value , is needed in these days.

Take Note: Please do not confuse this concept with that of usable money, however. Gold may not act as a medium of exchange for buying and selling goods, but today it clearly acts as a measure of value as well as a store of wealth roles it fulfilled for quite a few thousand years before 1970.

JULIAN PHILLIPS one half of the highly respected team at GoldForecaster.com began his career in the financial markets back in 1970, when he left the British Army after serving as an Officer in the Light Infantry in Malaya, Mauritius, and Belfast.

First he worked in Timber Management and then joined the London Stock Exchange, qualifying as a member and specializing from the beginning in currencies, gold and the Dollar Premium . On moving to South Africa, Julian was appointed a macro economist for the Electricity Supply Commission guiding currency decisions on the multi billion foreign Loan Portfolio before joining Chase Manhattan and the UK Merchant Bank, Hill Samuel, in Johannesburg.

There he specialized in gold, before moving to Capetown, where he established the Fund Management department of the Board of Executors. Julian returned to the Gold World over two years ago, contributing his exceptional experience and insights to Global Watch: The Gold Forecaster.