Posted on 01/27/2015 10:23:22 AM PST by SeekAndFind
That’s making an assumption that precious metals will maintain their traditional roles against devaluation. I don’t know how well that would work if the problem is world-wide, or if it does, why other commodities like grains and petroleum won’t be just as much protection, if not more.
Personally I like the idea of precious metals, (in moderation), as a hedge against fiat money and SHTF scenarios. But I would like to point out that Precious metals can be confiscated by the various Governments and Powers That Be. It’s happened in the past and in can happen in the future especially if the Governments declare that precious metals are “not currency” and will be confiscated upon detection when attempted to be used as currency.
Governments and the Bureaucrats that operate them can and will become tyrants when their power is being taken away from them. And a currency crisis will surely do that.
#1, there’s no such thing as fiat currency — what is and isn’t currency is defined by governments, period, and in the US that’s spelled out in the US Constitution.
#2, the point is obvious, and I think I spelled it out above — the decline of the Euro vs the US dollar is due to the recent cratering of oil prices. Other than the possibility of getting shot by Islamic terrorists, 2015 should be a great time to vacation in Europe thanks to the better exchange rate. It’ll continue to improve into the summer.
#3, “currency collapse” is a term for the tinfoil hat set.
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