Do you see any value in gold as a failsafe wealth instrument in a scenario that some here ponder? What event would trigger a collapse of our currency? It is better to invest in bottled water, canned foods, batteries, freeze dried veggies and meats, rice, soap and firewood. Nobody is going to trade gold coins in an American economy and government so ravaged and chaotic that paper currency is worthless. Sellers aren't going to exchange vital life stuffs for gold when there is no existing valuation standard or market maker. I don't get that use of gold ... I can see it as an investment vehicle, but as a doomsday lifeline? Escapes me completely.
Perhaps Herbert Kornfeld can lay some mad economic skills on me? Sam, that was one of the funniest things I've ever seen here, your Herbert commentary regarding the contentious FR software changes. Damn! I hope you saved that - you had the Onion patter dead on.
That's been my belief for quite some time now, that if things get so bad that our currency is worthless, well, where do gold owners take their gold for redemption? And redeemed for
what, exactly? More worthless dollars??
Yes, give me your bag of gold coins, and maybe, maybe, I'll trade you a can of beans and a bag of rice for it. But don't bet on it. Because I can still eat my beans and rice. Your gold.... I can't.