'Why Gold Would Be Useless in an Economic Apocalypse'

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posted on Mar, 31 2014 @ 04:13 PM
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It's an older article, but it's probably worth revisiting. It might not be anything new to people who frequent this forum, but with all the talk that Libertarians engage in, it may be an eye-opener for ATSers in general.



In other words, when an economy goes full-on Mad Max and we're all reduced to bartering, the survivors are going to be more interested in useful goods than in a soft metal useful mostly for ornamental purposes. Part of gold's value as a commodity is derived from the fact that it can easily be traded across borders. But if that were no longer an option, and you were reduced to using bullion to buy a baguette, it wouldn't really matter what people in China or India were willing to pay for your gold.


It's short and sweet, and to the point.

Why Gold Would Be Useless in an Economic Collapse

edit on 31-3-2014 by brazenalderpadrescorpio because: Wrong cut and paste form.




posted on Mar, 31 2014 @ 04:18 PM
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reply to post by brazenalderpadrescorpio
 


Truthfully in a collapse I would rather have a bar of soap than a bar of gold. Unless you had a pure silver bar which can be used to help purify water.



posted on Mar, 31 2014 @ 04:20 PM
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I think gardening tools and a supply of metals that you could fabricate things out of would be good. Of course, there is coffee, a can could get you five bushels of potatoes. I bet the government won't be handing out coffee as an emergency commodity.



posted on Mar, 31 2014 @ 04:22 PM
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reply to post by rickymouse
 


I think that the gov't at that stage would be something akin to the Morlocks, or whatever they were called. Lol.



posted on Mar, 31 2014 @ 04:26 PM
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reply to post by brazenalderpadrescorpio
 


I buy bullets...not gold. At the rate bullets are becoming scarce, it won't be long until bullets are more valuable than gold.

I guess sometime in the future, you could always melt down gold, to make bullets...


Des



posted on Mar, 31 2014 @ 04:29 PM
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Destinyone
reply to post by brazenalderpadrescorpio
 


I buy bullets...not gold. At the rate bullets are becoming scarce, it won't be long until bullets are more valuable than gold.

I guess sometime in the future, you could always melt down gold, to make bullets...


Des


When you are eating the deer, you could use the gold bullets to make fillings for your teeth when you break one while chewing on a bone.
Good idea.



posted on Mar, 31 2014 @ 04:42 PM
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brazenalderpadrescorpio
It's an older article, but it's probably worth revisiting. It might not be anything new to people who frequent this forum, but with all the talk that Libertarians engage in, it may be an eye-opener for ATSers in general.



In other words, when an economy goes full-on Mad Max and we're all reduced to bartering, the survivors are going to be more interested in useful goods than in a soft metal useful mostly for ornamental purposes. Part of gold's value as a commodity is derived from the fact that it can easily be traded across borders. But if that were no longer an option, and you were reduced to using bullion to buy a baguette, it wouldn't really matter what people in China or India were willing to pay for your gold.


It's short and sweet, and to the point.

Why Gold Would Be Useless in an Economic Collapse

edit on 31-3-2014 by brazenalderpadrescorpio because: Wrong cut and paste form.
it wont matter. As the rich and elite take refuge underground in cities big enough to support 5000 in each one with enough food to last 10 years. The people on the surface will be fighting and killing each other over food, clothes, shelter and women. In the end there will be no one left on the surface and then the rich and powerful will return to the surface.



posted on Mar, 31 2014 @ 04:46 PM
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in an ideal disaster, you would have enough provisions (and be able to protect them) to exchange some for gold, it wouldn't help you in the short term, but in time gold would become valuable again, so once another currency is established, you would come out smelling of roses and be very wealthy,

the problem is, can you eat in the interim?



posted on Mar, 31 2014 @ 04:53 PM
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reply to post by brazenalderpadrescorpio
 


Here's where I tend to tune out:



a soft metal useful mostly for ornamental purposes


It's the old "gold is just a shiny metal" argument, like it's no different than polished brass.

If that were the case, why would the Federal Reserve need to take seven years to return Germany's gold?

Ask yourself, where would the space program be without gold? What kind of computers would we have today if it weren't for gold? Gold will always be valuable to a technologically advanced society.



posted on Mar, 31 2014 @ 04:55 PM
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Short n sweet like you said I like it
as for the topic I was speaking to my dad a little while back about refining gold (there is a thread on ats about doing at home) and told him about keeping it for a financial crash of some kind. He pointed out what would people want more food or gold. He made a good point. I've got 3 tins of carrots and I want some potatoes, I find someone who has potatoes and trade them for some carrots. In desperate times these would be worth more I believe. Even more so if you don't live in an area where you can live off the land



posted on Mar, 31 2014 @ 04:57 PM
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reply to post by VictorVonDoom
 


I make you right to. In a way gold will be valuable but only to the right person(s).



posted on Mar, 31 2014 @ 05:00 PM
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reply to post by Abavs
 


And supreme optimist says... Just kidding.



posted on Mar, 31 2014 @ 05:02 PM
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I`d rather have silver that way I could make colloidal silver for medical purposes. Gold? Any one that wants it will just take it, you would become a target just by having it.



posted on Mar, 31 2014 @ 05:04 PM
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VictorVonDoom
reply to post by brazenalderpadrescorpio
 

If that were the case, why would the Federal Reserve need to take seven years to return Germany's gold?


Because there are a lot of rich people out there that only use gold as jewelry.


Ask yourself, where would the space program be without gold? What kind of computers would we have today if it weren't for gold? Gold will always be valuable to a technologically advanced society.


In a Mad Max scenario there would be no need for a space program. The elites mentioned in another post would probably be the only ones going into space.



posted on Mar, 31 2014 @ 05:07 PM
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reply to post by brazenalderpadrescorpio
 


Everyone's entitled to their opinion. That said I'll continue to buy gold, silver, ammo, non-perishable foods. Having a 3% portfolio exposure is too little IMO and by "portfolio" I mean physical bars of metal in my safe.

There will always be hierarchies no matter how badly the SHTF (as long as some people survive.) The big dogs will always trade metal's just as they've always done.
edit on 964pm1818pm52014 by Bassago because: (no reason given)



posted on Mar, 31 2014 @ 05:13 PM
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reply to post by Bassago
 


I'd be surprised if someone on the ground at that time had access to those hierarchies.



posted on Mar, 31 2014 @ 05:15 PM
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Gold in any quantity would be a problem for its owner because one would need a useful quantity of it, so its going to be heavy and cumbersome. it would mean it has to be guarded so the owner probably wouldn't sleep well at night. So one could possible be thinking long term before gold is actually useful again, unless for gold caps in teeth etc.

I think I would prefer medicine, seeds, bullets, water, food and shelter and a place that can be defended easily. I doubt Barter-Town would be anything other than a short market stop.

We have plenty of examples of how places degenerate when civil war breaks out. It means that masses of people would be migrating and the place would be a literal chaotic bomb-site after fighting. Once law and order break down - and we have recently seen this in Ukraine it will be the rule of the gun. Come to seriously think of it I might just prefer a coffin.



posted on Mar, 31 2014 @ 05:15 PM
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I think salt would likely become a high priotity tradable commodity as it was a couple thousand years ago.



posted on Mar, 31 2014 @ 05:16 PM
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reply to post by VictorVonDoom
 



Gold will always be valuable to a technologically advanced society.


That's true! However, in a SHTF scenario, survival instincts will create a demand for things that the money changers of todays society often forget!

What does a technologically advanced society have if their greed causes everything to collapse?

A person versed in the craft of being a Blacksmith will be much more value than a scientist without electricity......



posted on Mar, 31 2014 @ 05:31 PM
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reply to post by brazenalderpadrescorpio
 



Keep the shiny stuff to less than 3 percent of your portfolio.

You have to understand the target audience and the perspective from which this is written.

A "portfolio manager", your typical stock broker, doesnt make commissions buying and selling physical gold (and silver).

He or she makes commissions buying and selling stocks, bonds, mutual funds etc.

This article also assumes that the people reading it have money.

For anyone who has money or savings or some kind of "portfolio", would you rather have your money in US "Federal Reserve Notes" or gold (and silver)?


And, if you're really convinced the end is nigh, I say stick with canned goods.

Again, it depends on the individual's financial situation.

If you have the money, youd be foolish not to convert (at-least some of it, more than 3%) into gold (and silver).

If you dont have extra money, canned goods, guns, ammo, a high quality water filter, a self powered stove, hand cranked radio etc., are the way to go.

I love when the establishments tells the slaves not to buy gold (and silver).

If gold is such crap, why did President Franklin D. Roosevelt steal it from us under penalty of imprisonment?



And as Ron Paul asked, then "why do central banksters hoard it"?



edit on 31-3-2014 by gladtobehere because: wording





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