Galt's Gulch

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  • Posted by DeanStriker 10 years ago
    Tough Question. About the Great Global Collapse, it's coming and it's inevitable. The result will be that governments-all will be out of business, and a newly freed humanity will be starting all over. "The Almighty Dollar" and all other Fiat Currency will be useless and worthless, which has huge implications for whatever "society" survives.

    We've gathered some junk silver, stashed because it will hopefully be an interim medium of exchange, while gold would seem most difficult to use in whatever markets remain. I expect that corporations will quickly make SECURED (as opposed to Fiat) currency available and we'll all be struggling with evaluating those for our currency use while trying to exchange for needed/desired goods and services.

    We're "Old Folk" and can only hope to see that sun rise once again.
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  • Posted by j_IR1776wg 10 years ago
    Not really. There is no exchange mechanism. Neither a supermarket nor a gas station would be able to price the metal accurately. If the global economies were to collapse, would the London Metal Exchange or the Chicago Merc be functioning? Guns and ammo might be a better investment.
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  • Posted by paulnathan2000 10 years ago
    Gold and silver should be valuable to own if economies of the world collapse, but that isn't the real reason to own them. They are insurance against a monetary collapse, not an economic one. If Governments devalue their currencies, default on their debts, inflate or if hackers bring down the banking system and money becomes impossible to get, precious metals are recognizable and universally accepted forms of money.

    I recommend always having gold and silver coins and cash on hand as protection against any and all emergencies. And over time, if you never use them (which is the best case scenario), they will serve as a good form of savings. A hundred years ago gold was 22 dollars an ounce. Today, it's just under $1100. That's reason enough to own gold. But if fiat money should ever become worthless, those who have gold and silver will have preserved wealth and a certain degree of security.

    Much more on this subject at http://www.paulnathan.biz/
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