We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
Having lived in a country that has changed it's currency a number of times just in the past 100-years, we all know cash can become useless over night. As we saw with the Swiss Franc last year, currently manipulation also can occur literally overnight.
There are horror stories of German families returning to their homes after WW2 who gave away the family valuables (gold, rings, watches, etc.) to local farmers for food. A watch was exchanged for a loaf of bread, a gold wedding ring for a bottle of milk. There is still some old animosity towards the farmers for taking advantage of desperate people in this way.
Gold only has the value of exchange one puts it to. A $1,200 ounce ingot buys a loaf of bread? Doesn't seem like such a good idea. And as your government did in the 1930's under the Gold Reserve Act , it only takes a stroke of a pen to seize gold legally.
Not to mention, gold is not a form of currency or exchange anywhere in the industrialized world. Try taking an ounce of gold to the local hardware store and see what you can buy with it over the counter. They'll prefer your gold master card. And if the government bans ownership of gold and using it as a form of exchange, what's the point of having it?
Cash or gold...they're easily devalued and/or seized. I'm just waiting for the world banks to implement digital as the only as the means of exchange and to eliminate cash entirely. It's not a matter of if, but when. And most likely sooner than later.
Karl Horst (Germany)
The preppers and survivalists suggest that the medium of exchange after SHTF will be either whiskey or .22 LR ammo.
"The Banks" in the US can't implement "digital as the only..." without drastic changes to the law, and the way trust in government is trending it's going to be a tough sell.
Me, I'm investing in base metals--Copper, Brass, Lead.
Pre-assembled in little packages.
William O. B'Livion
I suspect a kilogram of bread, a liter of bottled of water will eventually be worth many times more than gold!
A wheel barrow full of money for a loaf of bread...been there, done that!
Karl Horst (Germany)
You invest in gold to protect your savings/wealth, not to buy bread when TSHTF. The objective is to hold onto your PMs and ride out the storm and once a recovery is in process to carefully move from gold to better assets. You store food and other necessities so that you don't have to hock the wedding rings for a meal. You all have a years supply of food for your family and extended family who will show up at your doorstep, right? You buy guns and bullets to protect your home and family.
If we go over the economic abyss there is no way to predict how bad it will get or even if you will live to see a recovery. If our politicians and bureaucrats were competent and honest we wouldn't be in this economic mess. If we do have a complete economic crash with a decade long great depression a lot of people will suffer for our politicians crimes.
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