Comment: Not saying those with a

(See in situ)

In reply to comment: In Weimar Germany during (see in situ)

Not saying those with a

Not saying those with a diverse portfolio shouldn't include precious metals, just saying I'm not buying the hype that we're supposed to liquidate all our assets and buy gold, or something.

You realize 1923 Germany isn't 2013 USA? For many reasons this is an apples/oranges comparison. Not all forms of debt are the same. Our place in the world economy is far different; if we go down, we take everybody with us. The reason the dollar hasn't crashed is because other currencies would also have to then crash, but wouldn't that mean we end up right back where we started? The dollars value is relative to other currencies.

You say a few ounces was buying hotels and blocks of houses and huge tracts of land, etc... ok, but where? In a kind of "Detroit"? Land has an intrinsic value. Just because the currency goes to hell doesn't require people to sell. People aren't stupid. If the currency situation became chaotic people in the USA wouldn't suddenly become dumb and say, "oh well, I gotta sell my thousand acres of fertile land for the price of a loaf of bred". Heck no. People would start bartering and come up with equitable trades. People like myself with land, too much land for just my family to work, I'd let people come live and work on the land in exchange for a portion of whatever they produce. Land always has value - always. Gold, maybe.

I can tell you, if we're in a fight for survival, a walking dead scenario, I don't think I'd care about gold, and I doubt many others would either. In the walking dead bullets and Kbars have far more value than bars of gold. Yeah, it's a more rare metal, it has some value, but what we really need right now is shelter, food, and very basic civil services.

Invent a new technology and the cost of mining gold just dropped in half. Mind a new mine, price just dropped. World economy collapses, cost of labor goes down worldwide, again price just dropped.