I bleed maroon said:
Heineken-Ashi said:
Dave Robicheaux said:
pfo said:
Gold miners, bitcoin and oil and gas producing minerals make up a large portion of my portfolio. The dollar is doomed. Not only is the gov refusing to cut spending, but they aren't even talking about reducing spending.
Some in gov are actually trying to destroy America and the dollar, while others in gov are way too stupid to realize that's exactly what they are doing. But either way, it's going to continue. Gold has been money for 5,000 years, that's a track record no fiat currency will ever match.
Gold with be useless as a bartering item when it comes to Armageddon. Bullets, medicine, seeds, gas, oil, all things that will be more useful.
Please explain a previous major world conflict where gold was useless. both sides had nukes.
FIFY. If Armageddon occurs, this is probably all moot.
I think we all agree there is a lot of precedent for precious metals holding their value better than alternatives during rough times, but the idea that it will protect you if society completely breaks down is probably not worth worrying about, much less investing on that thesis.
But hey, if any true believers want to persist, why continue to think of the price of gold in terms of dollars? Wouldn't cans of spam per ounce of gold be a better medium of exchange?
People buying metals for a society breakdown event are few and small between. People converting fiat money to the longest running historical store of wealth is what's happening. Not to necessarily use it as money, but to convert it back should they need to upon future economic stability being restored.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)
