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To: Southack
I live in rural Alabama. I grow my own food and have a decent amount of essentials stored, including gasoline. If people are starving, there is just no way that I'd trade what I have for your ugly yellow metal.

What a nice guy. I'll stay up here where people are willing to do business with intelligence and help one another, and won't let silly hangups get in the way of doing what's right, and what will be profitable and get the economy going again.

Moreover, what you clearly haven't grasped is that there is an enormous amount of gold that is out of circulation in jewelry and industrial products. Any crisis that destroys the Dollar would find all of that gold back on the market in an attempt to trade it for things that are life-supporting (e.g. food, water, shelter, guns).

If all the gold mined in the history of the world were in one cube, it would be 70 feet by 70 feet by 70 feet. That's not much distributed over 6 billion people. There's no risk of oversupply in a crisis.

Gold isn't rare. Everyone owns some. Any fool who offered to trade something of value for gold in that sort of crisis would be FLOODED with have-nots bringing in their gold jewelry to trade for food or whatever because people can't eat gold so they are certainly willing to dump it off on whomever would take it in trade.

There will be many that will take in in a trade, as always happens when governments fall.

285 posted on 06/29/2002 5:37:30 PM PDT by #3Fan
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To: Southack; #3Fan
Gold isn't rare. Everyone owns some. Any fool who offered to trade something of value for gold in that sort of crisis would be FLOODED with have-nots bringing in their gold jewelry to trade for food or whatever because people can't eat gold so they are certainly willing to dump it off on whomever would take it in trade.

Southack, you made a great point, but 180* from the one you intended.

Times of calamity and strife are often when great fortunes are made. The fellow who has the food, ammo, medicine etc will be piling up LOTS of Krugerands in exchange. After the disaster passes, he will be sitting on a mountain of gold and jewelry taken in trade, which will eventually be convertible again, to be turned into houses, real estate etc.

IOW, a garage full of Spam and ammuntion could turn into a safe full of gold, which finally turns into grand estates after the crisis passes.

315 posted on 06/29/2002 10:49:23 PM PDT by Travis McGee
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