5 reasons why Gold will unfortunately be worthless AFTER the collapse of the dollar.
Submitted by danyarger@yahoo.com on Fri, 07/06/2012 - 02:44I predict Gold and Silver will have no value after the dollar collapse for 5 main reasons probably nobody has ever heard of. Yes we all know precious metal prices will skyrocket from now until the dollar collapses but afterwards it will be as worthless as a paper weight. In history it used to be true that gold would regain itself as currency again after a paper currency collapsed but it wont work this time and I'll explain the reasons why.
(Reason 1)
With no currency, with what are you gonna sell your gold? The amount you paid for your gold before the collapse will by a long shot not equal the goods and services value, you'll have to trade it for after the collapse and no one will want it because it wont really serve any purpose during this time. Meaning for example most people will be forced to trade $1000 worth of gold for $5 worth of food. Well people might argue "You can use gold for electronics and other things." I say who's gonna work at the electrical plants without a paycheck? The only electricity being made are survivalists who own windmills in their back yard and seriously how many of you have those?
(Reason 2)
People will argue, gold will have to return to currency. I argue, who's gonna mint all those gold pieces for free? Remember when the currency collapses nobody is getting paid anymore so why would US mint workers waste their time working for free? Everybody is gonna be busy guarding their food supply. Food will be the new currency. People who are not self sufficent will end up having to help people who are in order to survive.
(Reason 3)
The government wont create a new currency. Everybody thinks the Illuminati will introduce the "Amero" at this time. Those people who are the Illuminati network won't do anything without getting paid. They are going to be hiding in their Apocolyspe bunkers that they paid billions of dollars to reserve a room in the mountains. Once the dollar collapses everything and I mean everything will shut down. The gasoline will dry up in 2-3 days, food will dry up quick, nobody will work a job including the goverment workers. In these conditions the last thing on people's minds will be fancy jewelry or precious metals. The first thing will be how can they eat another meal and live another day. Everyday, people will get shot/killed for stealing food. You can't eat gold you know.
(Reason 4)
The dollar is currently the worlds reserve currency. The reason in history for thousands of years that gold always returned it's value after a paper money collapse is because it happened in a time when world reserve currencys didn't exist. What this means is formerly when one country's currency died, another would just take over. However in this case, the currency currently dieing is the currency that all other countrys currencys are backed upon. Meaning if the dollar dies here, it takes down every countries currency that based their own currency's buying power or value upon the dollar.
(Reason 5)
Manufacturing and mass production stops. With nobody working because their paycheck is now just worthless paper, gold will cease to have a material or useful purpose. I mean seriously, what are we gonna use it for?
I would suggest this. Buy gold for now and hang onto it for about 6 months. Then immediatley sell it just before the dollar completely crashes when you notice inflation going through the roof and buy as much seeds and non parishable foods items as you can and bury it in containers in the ground to hide it. Remember people will be getting killed over food so you'll be able to get anyone to work for you in payment for food. Nobody will have any reason to want gold after the collapse. I predict when it happens this may very well be the end of money all together and the beginning of what Gene Roddenbury tried to portray when the character Captain Picard said "There was a time in history when the world gave up on money and decided to all work together for the common good." Those who survive who be forced to live by this method. Meaning we will all become farmers and fisherman to feed our communities.
Thank you for the link, will
Thank you for the link, will do.
oil will be tied gold in near future
The reason for this is the Chinese are stock piling gold and silver, because they want to replace the US dollar as a world currency. The Chinese are also building the worlds largest refinery in Saudi Arabia. These two events alone should be huge warning signs for Americans. A paradigm shift in the world is about to happen, unless we change our ways.
Here is another in that the Chinese have vowed to protect Iran from a US attack. The US government will back down when facing a real military army. Iran will then request gold for oil, soon after all other counties will follow.
This will turn the USA into a Zimbabwe type country, and only people holding gold and silver will have purchasing power.
Gold standard: because man can not be trusted to control his greed
Have you ever seen
a bar room brawl break out? There is always a few trying to inch their way to the door. That is China, they are trying to inch there way to the door along with a few other countries. They know our currency is toast. Right now the FED is buying 70% of our debt. Why? Because no one wants those bonds. Who in their right mind would want them? Sooner or later interest rates will climb. At that time the bond market will crash and take our 35-50% over bought stock market with it along with a few big banks. Unemployment is not 7.5% it is 24%. Inflation is not 2%, it is 9%. Out debt it not $16 trillion, it is more like $200 trillion. Over $250 trillion in unregulated derivatives floating around the US. Any one want to talk ticking time bomb. Our debt is 800% of GDP. To even start to close that debt you would have to double the tax rate on every one, every corporation and anything else in sight. If you were to do that you would destroy the country in a micro second.
The politicians both Republican and Democrats are blowing smoke. No way they can fix this mess. It is pass fixing. No we are going to pay the fiddler this time around. If is out of this conversation. Now all we have is when.
Wow...
Please just what ever you do, don't become a financial adviser.
you can't eat gold...
and why sell an ounce of gold for a loaf of bread (like happened in the holocaust). i agree with OP
Christians should not be warmongers! http://www.lewrockwell.com/vance/vance87.html
Are you of the impression the only sized gold coins are one oz?
Are you also of the impression that silver coins can't buy bread?
You can, but shouldn't be eating Federal Reserve Notes either, but I don't see you making that as an argument against holding them in the present.
i'm just saying food will be worth more than gold.
.
Christians should not be warmongers! http://www.lewrockwell.com/vance/vance87.html
A car is worth more than food right now. And depending on your
immediate circumstances in a collapse, might still be.
Relative value isn't relevant.
Some quantity of gold will be exchangeable for some quantity of food. Same with silver, and the same with all sorts of other items. Gold and silver coins are easier to carry around than cars, and each fraction thereof is still valuable in relative terms while parts of a car may very well not be. (the same is true of many other useful items or commodities)
If anything, in such a situation, what little gold or silver you do have will go VERY far, possibly farther than it does now. Once things stabilize, their purchasing power will come down and stabilize as well. But right at first, the only people who will be able to eat are of three groups:
1) those who saved food and can defend it or get lucky enough not to have their pantry raided or destroyed.
2) those who have gold or silver, or any other useful commodity to trade with to get food they don't have.
3) those who steal food from those who have it, or who steal gold, silver, or some other commodity to buy it with.
The group that will starve will be the one that either doesn't have food stored or loses their stockpile, AND doesn't have other useful commodities, INCLUDING gold and silver to buy more when they run out of whatever they have when the SHTF.
There is one thing that is certain: if you have FRNs, they will be worthless, or effectively so for anything other than their use as kindling. You will have a very difficult time getting anyone to sell you anything you need and don't have if all you have to trade with are FRNs or their digital equivalent.
You save the gold for the big stuff
A silver dime would buy your loaf of bread.
a silver dime will buy MANY
a silver dime will buy MANY loafs of bread.
Oh how I wonder, oh how I worry
And I would dearly like to know
How all this squander of earthly plunder
will leave us anything to show
Is this supposed to be
Is this supposed to be satire?
Haha hilarious
I think this is the lowest ranked topic I've ever seen haha. If gold prices do turn out to nosedive you will be hailed as a prophet, and gain a cult following. However, as history has show, I trust that gold and silver will remain valuable assets as they have for literally thousands of years.
if the dollar collapses (which it won't), it will be replaced
by something else immediately.
And it won't be gold.
I do predict that gold will drop below 1000, but for market reasons (it's over priced), not for any economic disaster.
Frankly, I can't believe so much chicken hawking on this site.
Yeah. They gov, media, etc. deceives us, but they aren't going to risk all that theUSA people offer.
Think of us like major league baseball players. Management deceives the players to get them to accept all sorts of stuff, but management isn't purposely destroying the MLB.
Let's take a look at the
Let's take a look at the history of replacements for fiat currencies throughout history, with the failure of over 700 fiat currencies, particularly those within the last Century, it can be surmised that by simply replacing one fiat currency with yet another never works. The problem is one of valuation, since the new replacement fiat currency has no recognized value impartation associated with actual value, it fails in confidence. That is the reason that all fiat monetary systems start by being piggy-backed on a sound monetary system, then the sound monetary system is gradually retired and the fiat system remains as a shadow value of the former sound monetary system. In this way the value associated with the sound monetary system is socially transferred to the fiat system in the minds of the people, who are usually none the wiser about the ruse.
Judging from recent monetary events, I dare say that the likelihood of gold dropping below $1000 per ounce is remote, but if it does I will be loading up on it! As the economic situation around the globe continues to deteriorate and the central banks of the world react in the only way they know how, that is to "print, print, print" in order to try to stave off the inevitable chain of collapses, the only thing of recognized value will naturally soar as a result of not only the uncertainty, but also as a result of knowledge that the governments of the world have no control and are actually not in control of the situation.
http://militantjeffersonian.com
"So long as the people do not care to exercise their freedom, those who wish to tyrannize will do so; for tyrants are active and ardent...to put shackles upon sleeping men.
— Voltairine de Cleyre
Because fiat currencies always crash.
You probably think they are smarter now and so it wont happen this time around. LOL Look at where we are right now and ask yourself if this was because they were so much smarter this time.
You fail to realize fiat currencies only succeed because of perception. Without tying a fiat currency to physical commodities, as they have always learned to do in the past, the new currency will never gain trust period!
A dollar crash is not something they cannot control like management of the MLB. There are factors involved that you are ignoring and unfortunately will probably turn you into a real road runner.
Tell me why the managers of fiat currency (central banks) are scooping up gold by the truck loads in the last year?
The Coyote,
They are scooping it up because
they know the dollar is going to tank. They are also scooping up all of the homes, and land.
Thank you for the information
Thank you for the information dear "genius", can't wait to see gold being worthlesss for the first time ever.
Nice post Mr Member for 3
Nice post Mr Member for 3 weeks and 5 days. Gold and Silver will always have some srt of value, I do not disagree that it may be worthless for awhile, it will return to some value, what ever it may be.
There is no Left or Right -- there is only freedom or tyranny. Everything else is an illusion, an obfuscation to keep you confused and silent as the world burns around you." - Philip Brennan
"Invest only in things that you can stand in front of and pr
I didn't down-vote your post because I find discussion on gold
...to be interesting.
I think the confusion happens when we try to figure out how much (in U.S. dollars) gold or silver will be worth after a "collapse."
Obviously that's impossible to say, but it's not the MAIN reason to buy metals ANYWAY.
Since discovering Dr. Paul in 2008 I have bought some gold, but more silver bacause I can't afford much gold.
I buy it for TWO REASONS ONLY:
1. AS A STORE OF WEALTH. To preserve wealth because precious metals are a way to preserve wealth. This can easily be PROVEN by simple charts; Look at what gold was worth 5, 10, 15, 20 etc. years ago and compare today's price with the same amount of dollars it took to purchase it back then. Case closed.
2. DOOMSDAY SCENARIO. In the VERY unlikely event of a total currency collapse event.
But before reason number 2 happens, there will be BAILOUT AFTER BAILOUT because they can still scare the hell out of enough people that Congress WILL approve MANY more bailouts before a collapse (as they did in 2008).
The Federal Reserve System WILL ABSOLUTELY fail eventually, but probably not in most of our lifetimes due to the ability of the FED to print, print, print.
They can get a LOT more mileage out of inflating before a total collapse, so my FIRST reason listed above is the most important reason to turn at least SOME of your dollars into preciouse metals.
The money you use to buy gold and silver WILL preserve its value.
But then as a bonus, you're also covered if the worst DOES happen before you die.
"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul
The answer to your first question is rather easy.
Silver is worth $1.2929 per ounce.
Gold is worth $42.22 per ounce.
There might be some dispute about gold's value. Not silver though. That's a definition. A dollar IS 371.25 grains of pure silver. Since there are 480 grains to the ounce, 480/371.25 = 1.2929. Hence, an ounce of silver is 1.2929 dollars.
I think you find confusion (like most) because you are using the term "dollars" to refer to Federal Reserve Notes. Those are not dollars. They are pieces of cotton with the word "dollar" on them.
A dollar is not an abstract unit of account. It is a specific weight and measure of pure silver.
Our problem is not the present value of dollars, it is that we aren't using them, we're instead using pieces of cotton with the word "dollar" printed on them and imagining they have the same purchasing power as actual dollars.
The solution to our ills is to return to using actual dollars again.
Who comment on this post?
I thought it was dead along time ago.
Does anyone here know how to preform an exorcist on these type of posts?
For Freedom!
The World is my country, all mankind is my brethren, to do good is my religion.
In your mind you are absolutely right.
There is no argument with your logic if all your premises are true so all you must do is sell your gold and silver just before the dollar collapses and buy something else at about the same time with the soon to be worthless paper.
Of course this means you will have to time the sale and purchase to perfection otherwise you might just end up with a barrowload of worthless paper or worthless gold.
If you are confident in your ability to time this event then buy as much gold and silver as you can afford today and wait for the collapse. If not then sell all your gold and silver today and buy up anything you think might be in short supply come the death of the dollar and gold.
Personally I think I'll use a different strategy but I would never dissuade anyone from doing what they KNOW to be right. After all that's what makes the market work and how we all learn...from experience.
"The slave does not remain in the house forever; the son does remain forever. So if the Son makes you free, you will be free indeed." (John 8:35-36)
Ignorant rant?
..maybe.
let me guess, would you be willing to help some nice folks buy purchasing some of the soon to be worthless gold?
From the goodness of your heart I am sure.
peAce
Liberty = Responsibility
Gold still has value in Zimbabwe, Argentina, Weimar.......
funny post though, I did laugh out loud:)
Jeff from Future Renovations, Inc.
http://www.thefutureshopper.com/
Should be called
5 Reasons this squib of nonsense is worthless RIGHT NOW!
Gold has been the ULTIMATE MONEY for 5,000 years, through...the Black Death, through World Wars, through an age where people couldn't communicate if the other person wasn't right in front of them, through droughts, famines, collapses...
And guess what, posts like this will exist in perpetuity to demonstrate just how CLUELESS society was in our time.
I won't call you an idoit....
...but I will greatly disagree with you for one major reason. Exchange does not require the government in order to take place. Certainly they don't like it, because they can't collect their little tax, but they cannot stop it, so it will continue. There are already cities in Greece and other places that have collapsed that can affirm that new systems of bartering are taking place. Exchange of goods is simply an agreement between the two exchanging, which is what everyone who talks about a Gold Standard that is "market driven" is talking about.
The flaw is that you're still attempting to understand economics according to the State, not according to the market. You don't need currency to buy and sell, you just need some sort of service or commodity.
You are such a patient man Jeff...
Listen to Jeff, OP, this is the nicest way you're going to hear the truth today.
As for myself, I'm not as patient. I came here to just post this about the opening post:
BWAHAHAHAHAHAHA!!!!
HONEST RON 2012!
LEGALIZE LIBERTY!
dont listen to this idiotic nonsense
if you really have interest in learning about whats going to happen read dr antel fekete.google his name..you wont be wasting your time like your doing here listening to an amateur who has absolutely no clue but once again is entitled to an opinion but that doesnt make it fact..
this is the most idiotic post
i have ever read here...show me one person thru out history that lost anything holding gold? as for who will work ask the nurses and doctors as well as many other workers in greece who have not had a paycheck in 6 months why they keep coming to work everyday...
thats all the time i will spend responding as i could write a book as to why only gold and silver will survive...you see no one will do commerce in dollars but they will always do commerce in gold...gold will always have a bid...when nobody will trade gold for dollars people will always trade oil or anything else for gold...you can bet your ass they will...look truout history show me one period in time that gold went bid less. answer never!
what will happen is gold will go bid less the dollar will be traded for other commodities and then they will trade those commodities thru the back door for gold thats how its done and has always been done.. the usa is not the only country in the world. they are not the first or the last fiat currency to bit the dust...
you are correct . . . .
I'd have some silver pieces for barter at some point in time.
However, whats more valuable?
SKILLS and KNOWLEDGE
Water - some stored and knowledge/items to make drinkable water
Fire - fire starter and skills to start a fire - sounds dumb, but go try it WITHOUT matches and paper with 30 mins. of daylight left, it's 45 degrees outside and you have a 4 year old with you.
Can you start a fire now??
Alcohol - buy the strongest you can get - rubbing, drinking - for barter and sterilization
Skills - can you plant, tend, harvest?
Can you weld metal to get a car or transportation working if we have electric?
Can you shoot a .22 rifle well?
Rabbit at 70 yards? could you shoot a 22 LR at 40 yards and kill a small deer. Like hit his pupil at 20 yds??
do you know how to take meat and dry/salt/store it without a refrigerator?
I'm working on my skills slowly, but skills is what will keep us alive.
like you said
water - s
Gwinnett County Georgia
War is an instrument entirely inefficient toward redressing wrong; and multiplies, instead of indemnifying losses.
Thomas Jefferson