"Gold has never NOT had value." G. Gordon Liddy, pitchman and former "plumber" of Watergate infamy.
And the well heeled herd believes.
When the markets crash, it more than likely will not be because of a natural disaster (although could be)...it will probably be a result of political moves in the world currency markets, IF there is a split over whether the dollar remains the "gold" standard of trade.
Because gold (and diamonds and silver) has always had value, it always will. This is the Normalcy bias which is going to doom the profiteers, the speculators, those licking their chops over the impending crash so they can profit while millions are thrown into the chasm of despair.
The ONE difference in today's times, well armed "gangs", an abundance of low cost ex-military for hire, and a couple of decades of preparation.
Those in the enclosed enclaves, those walled bastions of wealth, like Atlantis in Lake Worth FL for example...could be seized and taken by any of the SEAL teams.
Gold speculators expect and prepare for a collapse, but they woefully under estimate the hoi polloi responses, which, this time, will NOT be as docile as they may think.
When the hunger of the masses passes the tipping point, the gold meisters find their families bloody in the streets or in the basements ala Romanoff's of Russia.
You can't eat gold. It may be worthless when trying to buy a jar of instant coffee, but, with the right guns and the skills to use them, you could come away with both gold and coffee if you're the third party in this transaction.
G. Gordon Liddy may soon be shilling bullets, "they have never not worked on the unarmed".
Gordon
Quote:
Originally Posted by Dien Rice
Hi Gordon,
I read that one of the reasons why gold is valued in "hard times" is because it's easy to take it with you when you escape!
1 oz of gold is now just short of $1200. That means if you want to "run away" and carry a wealth of $100,000... You'd just have to carry around 100 oz of gold, or around 6 lbs (or just under 3 kg for metric folks). Easily doable for the average man or woman!
It's interesting, but... I read that when the Spanish went to South America, even though the two peoples had never met before, they both placed a high value on gold!
Why do we value gold? It seems the bottom line is because gold preserves itself... It doesn't react with things, rust, tarnish, decompose, or otherwise degrade, unlike almost everything else... A golden statue created today, will look pretty much identical 1,000 years from now. If you're going to use something for "money" - you generally don't want it to rust or decompose...
Why do we value gold?
http://www.bbc.com/news/magazine-25255957
Anyway, I didn't know this before... I only just found about it now after getting curious from reading your post, and doing some "Googling"...! 
Best wishes,
Dien |