Many of Napolean's soldiers starved and froze to death while retreating from Moscow. Many of the starved and frozen were found with gold coins still in their pockets.
If our economy were to really collapse, a stockpile of gold is not something I'd really want to have in my house.
If our economy were to really collapse, a stockpile of gold is not something I’d really want to have in my house.
I think you would, and here’s why:
Let’s say you have your “stockpile”.
Let’s say that I, somehow, get my hands on 500 gallons of gas, and a couple people, including you, hear about it.
If you and the others show up at my door and you have coins and others have dollars, guess who gets some gas?
But that particular day, I might have a cold, what if someone shows up with a jar of Nyquil?
Or I might be low on smokes. Anybody got a carton?
In an environment when commodities become scarce, trading commodities for “dollars” doesn’t make any sense. The only thing that makes sense is trading commodities for commodities. Dollars are only a sort of promise or possibility that you MIGHT - underline MIGHT - be able to sometime, in the future, get commodities.
But if commodities are scarce and there is a possibility that your dollars might not “buy” anything tomorrow, then a currency based economy goes out the window.
Ditto. Food and ammo will be the new gold.