There have been stories of fakes... "heavy clads"... more than the typical gold plating, but with a center of tungsten(?)... which has similar density.
Would you buy an ounce of gold for $50? They wouldnt!
- Thread starter peilthetraveler
- Start date
There have been stories of fakes... "heavy clads"... more than the typical gold plating, but with a center of tungsten(?)... which has similar density.
Quote from AyeYo:
Quite the contrary, I think it's an excellent example of how little gold is really worth.
Think about it. What makes gold valuable? People say it has intrinsic value, while currency does not. I beg to different. In a state-of-nature society, gold is useless. It's a shiny, soft, yellow metal, nothing more. At least I can burn my USD's to keep warm.
When the world goes to shit and people just want a meal, who's going to actually pay $1,100/ounce for all that gold you've got?
If you're looking for true SHTF investments:
Agreed
I agree with you that the government will probably not take your gold like they did in the thirties. However, they very likely may enact regulations to keep track of who is buying gold, so they can tax it. Right now, you can go into a coin shop and buy gold and silver with cash without giving your name, as long as your purchase is < $10,000 a day. However, the government could easily decrease that dollar limit or require you to fill out paperwork for any purchase. Obama is cracking down on tax havens and is forcing Swiss banks to give the names of wealthy Americans with accounts in Swiss banks. If you cannot keep your money anonymously in a Swiss bank anymore, what can you do for privacy as well as for protection from currency devaluation? Buy gold! Wealthy people around the world are now purchasing large amounts of bullion with cash and want no documents. Ask any large coin dealer and they will confirm this fact.
Ok, well what about Argentina. Gold still retained its value.
I see your point, but you are wrong. Even during war, there is always hoarding and valueable metals whose value has been instilled in mankind for thousands upon thousands of years, are still VALUABLE. As opposed to printed currency which becomes no longer accepted.
Unless you plan to be a merchant during the SHTF times, there is only so much food, water, medicine, firearms, liquor, etc. that you can hoard. Also, if you need to get the f**k outta Dodge, what do you think works better as a payoff? Canned food or valuable metals.
Besides learning your history you should also look to recent times and understand what is valued in crazy times and what is not. Zimbabwe & Argentina are good examples.
Gold, silver, platinum & palladium, whether coins, bars, scrap or jewelry are simply a storage of value. It just so happens that they are hedges to the fiat printing presses as well.
OK again, I never said that it hasn't happened before. I am saying it most likely will not happen again. Slavery used to be legal, do you expect that to be legal again in the future?
Also, they could just as easily outlaw all guns as well, especially if there are lawless riots. Besides, if the US outlawed gold, just sell your gold abroad.
And you are completely wrong about your comment on the difficulty of selling gold. It is not hard at all to get spot price or at the very least close to spot price for gold, especially in an environment where demand for gold is high, like in a crisis.
As for the illigal guns "comment", you probably are right, I am not a gun buff. But I have seen confiscated illegal guns that looked similiar to that, so that was the basis of my comment.
Diamonds... Some Jews smuggled them (shoved up their ass) out of Germany/Europe when fleeing the Nazis.
But in the early 80s, there was a book which recommended "buying all the shoes and toilet paper" you could to preserve your wealth in an inflation world gone "Mad Max"... of course all who did ended up with a warehouse full of sneakers and TP... Try converting THOSE back into money...
Of course, we wouldn't have to do any of this if our ELECTED OFFICIALS.. didn't FUCK EVERYBODY OVER WITH THEIR GREED AND DEFICIT SPENDING...
