People buy gold anticipating the collapse of paper currency.
The current mega-inflation in Zimbabwe is their ultimate horror.
In 1923 one US dollar was worth a million German marks.
It shows a lack of faith in our economy, IMHO. Right up there with stocking up on bottled water and canned tuna.
(Stocking up on ammo, now that’s a different story)
;^)
“It shows a lack of faith in our economy, IMHO. Right up there with stocking up on bottled water and canned tuna.
(Stocking up on ammo, now that’s a different story)”
I’m glad you clarified that because we have plenty of ALL of those “commodities.” (The canned tuna is for the cats. Never touch the stuff myself.) :)
I always laugh when people say that they have gold in case the economy collapses.I always wonder, if the economy collapses and there is a general downfall of the country WHO can take their gold as payment of anything?
I mean, can you go to the market and tell the 18-year-old clerk at the cash register that your little speck of gold is worth $100? And if he takes it, how does HE exchange it? And how do you get change back if you don’t trust the money in society?
I think if society collapses gold won’t do you much good. A GUN on the other hand, is FAR more useful in that case!