[zek157]

Think Germany 1922-23, Bolivia in 1983, Peru in the 80's or Iraq. A million Iraqui dinares are worth $900.

When the real value of currency is inflated to worthlessness gold should retain its purchasing power.

[Labyrinthos]

Think Germany 1922-23, Bolivia in 1983, Peru in the 80's or Iraq. A million Iraqui dinares are worth $900. When the real value of currency is inflated to worthlessness gold should retain its purchasing power.

I understand what you are saying, but I think you are living in a fantasy world. Unlike Nazi Germany, Bolivia, Peru, and Iraq, we have a strong and time-tested Federal Reserve and monetary system that has prevented the situation that you have described, perhaps in part, because our monetary system is no longer tied to gold. Also, where do you think you are going to be able to spend your gold? Walmart? Most of the people who work in retail sales these days, can't even make change without the help of a computer chip even though our base 10 monetary system is about as simple as one can get. I can see the situation now:

Cashier: "One roll of toilet paper, a carton of Marlboro's, and a case of 000 Buckshot, that will be $21,212.43.

Purchaser: "Do you take gold coins?"

Cashier: "Huh?"

Also, doesn't Federal Law currently prohibit the use of gold as currency?

[Southack]

"Think Germany 1922-23, Bolivia in 1983, Peru in the 80's or Iraq. A million Iraqui dinares are worth $900."

You are kidding, right?! I mean, you do know that most Americans are buried to their eyelids in debt, yes?!

If the above happened to the U.S. Dollar, every home owner in America would be paying off their Jumbo Mortgages.

Think about it; go sell your pack of cigarettes for $1,000,000.00 and then you get to pay off your home mortgage note.

Wheelbarrow of cash to buy a loaf of bread? Suddenly you bake a loaf of bread, sell it, and pay off your car loan.

Oh yeah, Americans would just **hate** that scenario...

...rolls eyes...

< /sarcasm >