Do you own gold as a hedge against economic disaster?

[Debaser82]

Thanks for the answers.

 

[stevegee58]

No, only brass and lead.

 

[nazzdack]

0-4. Booze, tobacco and drugs may make for a better hedge.

 

[short&naked]

As long as there are government produced and sanctioned currencies, holding gold is risky. If were ever return to a gold standard, any holders of the metal would be in trouble. However, if everything falls appart and we enter into a bartering system, those who posses gold would be, well, golden.

Don't forget that when we talk about the value of gold, we price it in fiat currency terms.

Plus, in a deflation, forget gold.

 

[stevegee58]

Quote from nazzdack:

0-4. Booze, tobacco and drugs may make for a better hedge.

Yeah, baby! The holy trinity of survivalism: alcohol, tobacco and firearms.

 

[gnome]

Quote from stevegee58:

No, only brass and lead.

Practical as well as "precious" metals..

 

[ipatent]

Quote from short&naked:

As long as there are government produced and sanctioned currencies, holding gold is risky. If were ever return to a gold standard, any holders of the metal would be in trouble.

So hide it well.

 

[Cygnus Atratus]

Nope in a proper disaster you need canned food and Mr Colt Phyton 8 inches

 

[Debaser82]

Not that many goldbugs on ET apparently.

 

[Debaser82]

So, some of you guys got scared enough to jump on the gold train yet?