stock mkt is up today. tomorrow we take 5k and buy maple leaves

[mitchtv]

good idea?We are close to the Mexborder and may need some really liquid assets someday. BTW does anyone know if coin is much more expensive than Bullion? we plan to get more gradually. Is it safe to put in a safe deposit box? when they pull an "Argentina" and close the doors,can you get in your box?

[MercutioATC]

1. I've never understood this. If the global economy collapses, why will gold

retain its value?

...just asking...

[mitchtv]

2. cause it can't be printed

ala Bush

[Nordic]

3. because when the dollar becomes worthless, the gold won't.

that's all.

And if the dollar crashes, the price of gold will probably go even higher.

Of course, if you need food and gas, you'll be hard pressed to use gold to buy that stuff.

[MercutioATC]

4. I guess that was my question.

What practical use will gold have if the economy collapses?

[mitchtv]

5. sell for a wheelbarrow of Dollars, or,

get across a closed border, or buy yourself out of a private "gays only" camp.

[ramblin_dave]

6. Gold has intrinsic value

When currencies collapse people look for commodities with intrinsic value, like gold and other tangible assets. If you buy gold now and the dollar falls sharply, then gold should even rise in value. You can barter gold for stuff you need. Or you can exchange it for the wheelbarrow of dollars it may take to buy a week's worth of groceries.

[MercutioATC]

7. Would YOU take gold if you had a limited amount of a resource

(food or ammunition, for instance) and the "buyer" had nothing else to offer?

I wouldn't. I can't eat gold. I can't protect myself or hunt for good with gold.

What I WOULD barter for is skills. I'm not a mechanic. Fix my car (or whatever) and I'll trade food. I'd spend money to learn skills before I'd hold gold.

[alfredo]

8. gold won't do much good if there is no food to buy. Now that there

are very few local farmers to feed communities, there will be massive starvation. The good land for growing is now homes and tarmac. Even then, most people don't know how to grow crops, or how to use and preserve them.

Very few people would recognize wild foods that grow in their neighborhood, and will starve because they don't know what they can eat. They don't know what nut trees are edible, or how to make high tannin nuts eidible.

Knowing how to use MS Word won't help you, but knowing cattails and coltsfoot will.

[lectrobyte]

9. yes, but before the Mad Max scenario kicks in, or you are just

worried about hyperinflation in the U.S. after the rest of the world "balances" our currency, then gold is a good idea as a hedge against inflation. Seems simple enough. You can't eat gold, but there will be some form of currency (like dollars or Swiss francs in Europe after WW2) that will be used, and gold is more likely to be easily converted into that. Or you could stock up on cigarettes, they seem to be in demand always.

[Red State Blues]

10. It depends.

If it was just the US economy or a lesser runaway inflation gold would be good to have. In a total meltdown just try to trade gold for basic handtools or food and see how far that gets you.

I believe that it's advantageous to have the coins (easier to trade) although you will pay more and I am NOT an expert.

[Red State Blues]

11. missed this

"Is it safe to put in a safe deposit box? when they pull an "Argentina" and close the doors,can you get in your box?"

Hell NO. I probably would keep some/most in a safety deposit box anyway because the kind of collapse that would keep you out of your box forever would probably render gold worthless. Definitely keep some around the house. May need to bribe a border guard or whatever and they won't do you any good in the bank.

They won't do you any good if they all get stolen out of your house either.

[wabeewoman]

12. The reason maple leafs are nice

is that it has a high purity level -99.9% or such. Better than the US coins. Also you can buy very small coins or large ones worth much more. There will always be rich people to 'sell' your gold to. They aren't all going broke if the dollar crashes. If it gets so bad we need to eat wild plants, I don't think many of us will survive just because there aren't THAT many wild plants left.