Gold strikes me as a metal you want when you plan on long-term investing as its value goes up over time, but it’s not something you’ll want to use for day to day activities. Problem is, if TEOTWAWKI takes place, the whole system that puts value on gold also goes away. In such a case, I can see a case of whiskey and a jerrycan of .45 ACP getting you a lot further than the equivalent amount of gold by pre-collapse value.
barring nuclear armageddon, there will always be a market for gold and; thus, it will always be a tradable commodity. Plus, it’s much easier to carry around a few 1 oz coins than a few cases of whiskey or cans of ammo. I don’t think it will necessarily hit $10,000 oz in the next 10 years but I don’t see it drastically dropping in price any time soon either.
Exactly. A hundred pounds of copper or lead, or a few pounds of silver will still be VERY valuable in any situation because of the wide variety of uses (heck, a copper ring on the ground will keep slugs and snails away from your vegetables); gold really has very limited uses outside of pretty baubles.
Silver, copper, and lead are more volatile than gold, but that's more a reflection of the actual market, which indicates their actual REAL-WORLD use and hence real value. Gold is often stable when other markets aren't, or it's highly volatile when everything else is good. It's disconnected from the markets because there really isn't a need or use for gold outside the markets. It's a psychological blanket for many right now, but long-term we see gold doing worse than most other industrial metals or even the markets.
Consider that gold is still around half it's 1980 peak (when you correct for inflation); the DJIA - even today - is around 4 times higher than in 1980.
Personally, I have a good amount of silver, a lot of copper in various locations, and am upping my physical inventory of lead (for investment and fun purposes - I do have a gunpowder addiction to feed!). Gold is interesting, but for it to go to $10K? Only if the dollar collapses by a factor of 10, and that would be a TEOTWAWKI situation.
Problem is, if TEOTWAWKI takes place, the whole system that puts value on gold also goes away. In such a case, I can see a case of whiskey and a jerrycan of .45 ACP getting you a lot further than the equivalent amount of gold by pre-collapse value.
Well, the Bible says that the time is coming when those who hoard and keep gold and silver will find it to be worthless. It's talking about the end of the last days, just before Jesus, the Messiah of Israel comes to set up His one-world government over all the nations of the world.
Those who are holding onto silver and gold will find that they've become worthless in their hands.
James Chapter 5 1 Come now, you rich, weep and howl for your miseries that are coming upon you! 2 Your riches are corrupted, and your garments are moth-eaten. 3 Your gold and silver are corroded, and their corrosion will be a witness against you and will eat your flesh like fire. You have heaped up treasure in the last days. 4 Indeed the wages of the laborers who mowed your fields, which you kept back by fraud, cry out; and the cries of the reapers have reached the ears of the Lord of Sabaoth. 5 You have lived on the earth in pleasure and luxury; you have fattened your hearts as in a day of slaughter. 6 You have condemned, you have murdered the just; he does not resist you. 7 Therefore be patient, brethren, until the coming of the Lord. See how the farmer waits for the precious fruit of the earth, waiting patiently for it until it receives the early and latter rain. 8 You also be patient. Establish your hearts, for the coming of the Lord is at hand.
The New King James version says the gold and silver has become corrupted. The King James version says cankered ... the original word means to become rust covered -- it's not talking literally, but figurately, and thus made useless.
Gold and Silver will be of no use and value at that time of the coming of the Lord. It will have lost all its false value that people perceive in it now -- and it is only a "perception" and nothing more.