Peter Schiff : We need a GOLD Based Monetary System

GIN: So you believe that paper currencies issued by various governments as they exist will continue, but they will be backed by gold?
Peter Schiff : They won’t continue as they exist because right now they have no value. They are backed by nothing.
Most paper money initially existed as a substitute for gold. That’s what gave it value. But right now what gives a currency value is other currency. Most countries hold reserves and the reserves are other currencies. If you are a backing up the euro with the dollar, what’s backing up the dollar?
I don’t think it is going to go to a point where all you have is coins and bars of gold, but I do think that we are going to have to go back to a monetary system based in gold, not based on paper. - in goldinvestingnews

Euro Meltdown to Force Central Banks to Sell Gold

Gold is not a good investment in deflation. It only did well during deflation in the past because the gold price was pegged in US dollars, which is not the case now. I'm betting on Bernanke and inflation, so mostly own PMs. But I also fear we could have deflation if money printing won't inflate (i.e. pushing on a string). So I also plan to have cash (75% PMs, 25% cash) in case of deflation instead of inflation.

Always take Delivery of your Gold & Silver

Bob Chapman : Well, I tell people with gold and silver to always take delivery unless it's impossible to do so. Then they should have it segregated in an account that they can access, whether it's in the United States or another country. Most people are happy to take delivery of gold and silver. Shares speak for themselves. They're traded on exchanges. The earnings for these companies are what they are. - in the aureport