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RE: Where is the money going to go in the next crash?
I would say that even gold is in a bubble. With current prices it is a handy way to store money in long term, but not to make transaction with it in case of a mad max.
I wouldn't class gold as a bubble, most of the price of gold is production costs with a small profit. Me personally I don't see a bubble. Cheers
But gold is a very renewable resource and the industrial consumption is extremely low, so I do not think that production costs are enough to sustain the gold price. The intrinsic value of gold as raw material is much lower that current price. Silver instead has a bigger intrinsic value in relation to his current price, but not very high either.
That's assuming things stay as they are, when the next meltdown comes the increase in demand will be massive, with no extra mine capacity because of lower grades and mine shut downs, the price in paper terms will skyrocket. Cheers