Comment: Libertarian obsession with precious metals is a bit too much.

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Libertarian obsession with precious metals is a bit too much.

Yeah, sure, buying them is a good decision to protect yourself from currency destruction. Great. It's good to put between 5 and 15% of your net worth in PMs (perhaps a little bit higher considering how bad things are). But anything more than 20% and it's getting out of control. Let's do a situation analysis:

-things get better
Unlikely.
But if it does, gold goes down

-things get worse before getting better
Likely.
Gold might go up a little bit, but in the long run you want productive assets.

-hyperinflation
Having 20% of your assets in gold (assuming you have some wealth) would make you a king. You could swoop in and buy up so much land, and so many businesses that when things recovered you'd be set for life.

-economic apocalypse
Unlikely.
In this case, gold isn't useful. Brass and lead would be better.

When you look at it, overloading on gold doesn't help you. Just keep a little bit locked away somewhere and then be quiet about it. The obsession is annoying.

'The Anarchists are simply unterrified Jeffersonian Democrats. They believe that “the best government is that which governs least,” and that which governs least is no government at all.'
-Benjamin Tucker