He didn’t buy gold. He bought paper gold. It is not the same thing and is just a tad more ultimately trustworthy than fiat currency.
Foolish move right before the great deflation. He would have been better buying US Dollars. Gold will go down, in dollar terms, during the crashes/deflation.
Stock up on gold, silver, pocket change (pennies and nickels), old car batteries, and scrap brass, preferably cartridge brass. Oh, and pick up a copy of “Machinery’s Handbook” to figure out what wonderfully nasty things you can make with all of those raw materials.
If a bunch of third world types can bash out AK-47’s in barns and caves, just imagine what some ambitious educated machinists in the US can come up with.
I’ll leave you with this little bit of wisdom: Never, EVER underestimate American ingenuity, especially if they’re being forced into a corner.
Interesting