What if gold does go to $5,000 or $10,000?

Gold last traded at $1,800 an ounce. Silver at $19.57 an ounce.

NEWS SUMMARY: Precious metal prices rose Friday on strong demand and a weak dollar. U.S. stocks traded mixed as a sharp decline in Netflix shares pressured the rest of the market.

KITCO--"With gold hitting nine-year highs this month - and staying above $1,800 - readers are asking for guidance on what to do if gold not only reaches new nominal highs, but blows by $2,000 and keeps going. What if it really does go to $5,000 an ounce, $10,000... or higher? And what if silver hits $100 and keeps rising?....I think we'd be seeing 1970s-style stagflation, and there would be great political and social unrest. I think it's unlikely someone with the guts Paul Volker had would step in to set things right. And I think there's zero chance today's politicians would give such a person the power to do so. I don't think $10,000 gold would be the end of the story. If it does rise that high, I think the US would fall into a true hyperinflationary death spiral. At that point, the price of pretty much everything would be about to take off. At the same time, the actual value of many things would go into decline as people focus their spending on survival. In short, the real endgame would be a major financial and social reset - after a collapse. I hope I'm wrong. Or, if I'm right about what $10,000 gold implies, I hope we never get there. Just reaching Bank of America's now-famous $3,000 call would be more than enough to make fortunes for gold bugs like me. No need to wish for far greater misfortune befalling the rest of the world. But frankly, with the Republicans joining the Democrats in pulling out the control rods that keep the US economy from overheating and melting down... well, I don't want to predict a global collapse , but I think it would be foolish not to make contingency plans for the possibility."