That does happen and Germany has alot of immigrants and workers, but its not without some trouble from its population. It is good for an economy to receive valid workers but the people may not feel as much if they are outnumbered by people who may not even speak the language. Kazakhstan is the size of europe but with only the population of a couple major UK cities, they have many migrant chinese workers apparently and risk 'losing' their country to foreigners who never leave.
Its fairly controversial but there are some benefits to europe from shared resources and it does have this strength there. Also a ton of red tape and politics and general stupidity so no utopia
$7.000 is quite conservative.
Also 7000 is an arbitrary figure as any great rise in gold likely comes with a fall in dollar so we are not talking present day values but unknowns. Eventually gold will continue at the same value its been on average anyway but its possible it does spike as high as previous centuries, apparently Henry VIII's gold sovereigns were an all time high during his reformations. They are still made today, not much else lasts that long.
If we are blowing smoke, I'll say 70,000 as that'd be inline with similar currency depreciation like Marc Faber has studied in the past. Look at the rouble, peso or drachma and price gold in that over the years and the price gets silly quick
If we base estimates on past fiat devaluations as below, gold sold at $1300 USA dollars becomes 91, 170 or $284,000 over a century I guess
The enormous gold sovereign was introduced by Henry VII (Henry VIII's father), who wanted a new ostentatious gold coin, which could be worth the huge sum of one pound sterling.
Until this point the pound sterling had been a value, rather than a coin, used for accounting purposes as the equivalent of 240 silver pennies (one pound in weight of Sterling silver). However this new, almost impractically large coin of 99.48% gold was made equal to £1, or 20 shillings, with exactly half a troy ounce of gold - an unbelievable value for a single unit of currency.
Its minted half that weight now so if we presume gold price accurate in both cases then Sterling has devalued 99.5% over 500 years, mostly in the last fifty I think since we dropped silver from the coins.
So sterling is the oldest still used currency besides gold but almost in name only. Its no longer silver or gold based, neither is dollar; also originally copied like pound from a silver coin standard
[The 9th century 1 pound silver is £131 now, the 16th century
Sterling pound is now £70 but silver itself is less valued now due to south american mines, we cant say gold wont do the same but it hasnt so far apparently]
