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if you and one other guy were stuck on a desert island with two loaves of bread, would you sell your loaf to him for all of his gold?

Keep in mind that the United States and Europe (the two sectors in deep doo doo over socialist policies) are only 1/3 of the world. China and India are not facing the same problems. So... there will be gold and bread available... There is no deserted island...

Maybe, maybe not. I'm not an expert on the subject, but I strongly suspect that if China could have let us go down in flames without destroying themselves, they would have done so by now, because, as owners of our debt, they certainly have the power. That they haven't suggests that if we go down, they go down. Be that as it may, gold is like any other currency - it only has value as long as people have faith that it has value. As soon as people decide that resources they have are more valuable than gold, then gold becomes just a hunk of metal. I think where the disconnect is here is some people are viewing the upcoming pain as merely a depression, where others view it as a potential end-of-the-world-as-we-know-it, Mad Max-type apocalypse. I suppose one's view on the ultimate value of gold stems mostly from that viewpoint.