It goes up, it goes down. Elevators, the stock market, and gold. I have no sympathy for anyone who is crying over the latest plunge. You can’t eat gold. You have to convert it to money to buy bread.
In a crisis everyone will be looking to convert gold to money, and so the ratio gold/dollars will drop.
The reason why it dropped is that rampant inflation didn’t happen (because the economy is in the dumps) and all the hype ads predicting 20,000 were lies.
After the money's become worthless [not predicting that anytime soon, of course], that step will be eliminated.
I do agree, though, that people looking for investment returns from gold aren't to be pitied. Whether it's legal tender or not; it's still just money.
IMO it’ll be barely a good deal at $750/oz at most. A lot had a great time when it was on the rising bubble, but that’s over and it’s going to sink to the low 1000’s for sure.
Any you make a good point, in any real emergency people will be trying to dump gold like nuts and it’ll fall EXTREMELY fast. Everyone that stocks up on stuff thinks they’re the only one.. I don’t see it as a terribly good investment choice. Certainly not something to go all in on. Maybe 10% of your investments.
Frankly right now, I’m not sure what the heck is a good deal. Deflation does seem to be out there. Stocks are up and down, nothing has been ‘normal’ for over 10 years.