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Originally posted by Metaholic
I want to understand something important.
Should I buy Gold/Silver as coins or as commodities?
If the dollars crashes I can extract my metals for the new currency, or a temporary foreign one.
If it crashes compeltly, with social upheaval, rioting and loss of security for trade in the banking and financial institutions holding my wealth, then I should use some sort of an actual coinage.
And if so, what coins should be used? there are so many variations of gold coins, non of them has an intrinsic standardized value, such as "This is one Ounce of Gold".
What should I do? call the banker and ask him to buy me come Gold metals?
Originally posted by traderjack
It all goes back to the secret meeting of Congress and the C&R document which allegedly stated the US stock market would crash in late September early October and that the US would announce it was bankrupt in February.
Originally posted by Rockpuck
reply to post by disgustedbyhumanity
We are in a DEFLATIONARY PERIOD.
When Inflation comes back to replace the period of economic deflation we are experiencing, the price of Gold will correspondingly rise in relation to the inflation that we see.
Originally posted by silent thunder
Many people in this thread have made the arguemnt against gold that "you can't eat gold" and that will be worthless when "TSHTF"...
Well, this might be true if there was a total breakdown in the most fundamental aspects of society and we go to some kind of Mad Max/Anarchy scenario.
That doesn't work all the time, coz despite being in the deflationary period, the price of gold is on the rise.
Rockpuck, can you find out if gold buying is done only in USD like the oil buying is done, or can you purchase a ton of gold in any national currency?
On 21 January 1980 the Gold Fixing reached the price of $850, a figure not overtaken until 3 January 2008 when a new record of $865.35 per troy ounce was set in the a.m. Fixing. However, when indexed for inflation, the 1980 high would equate to a price of $2398.21 in 2007 dollars, thus the 1980 record still holds in real terms.