I mean gold will likely get expensive with the amount of outstanding debt worldwide, explicit and off-the-books like underfunded pension liabilites and health c

I mean gold will likely get expensive with the amount of outstanding debt worldwide, explicit and off-the-books like underfunded pension liabilites and health care costs. I.e. it's the value of all major currencies that will go down. Japan cannot ever have anything even close to 2% interest rates because at 2% the central government will pay 100% of the tax take just to service interest payments. This, of course, cannot continue forever without pushing down the value of money, one way or another.