University of Texas takes delivery of one billion in gold

Originally posted by spikey
What good is gold in a shtf scenario? Can't eat it...can't build with it..can't get warmed by it...can't breathe it...can't be protected by it..etc. You can trade it for the above things..but then what good is it to the one who you traded with? To trade again?

I dislike this argument which comes up on every single gold thread. Let me ask you, how do USD taste, how many USD did you burn last winter for warmth, what does it feel like to inhale it, and how many do you need to make a bullet-proof vest?

The point is wholly illogical. The entire world is trained to run on trade and there will be a currency or promise of currency, even in the worst scenario and so wealth will still exist. If you want to accumulate crops thats fine but how are you going to move $100,000 in crops when you need to pick up and go?

dang-it, they shipped it to the wrong address.
it was supposed to come to my house.
heads are gonna roll over this.
I was wondering where my shipment
had went to.

I think its about time we visited the Asteroid Belt.

In the 2,900 cubic kms of Eros, there is more aluminium, gold, silver, zinc and other base and precious metals than have ever been excavated in history or indeed, could ever be excavated from the upper layers of the Earth's crust. That is just in one asteroid and not a very large one at that. There are thousands of asteroids out there.

news.bbc.co.uk...
So what is it worth at todays prices??

Originally posted by kaoticf8
thats a whole lot of gold, whats that work out to be close to 18,800kgs of gold which is hmm about 1500 bars if they are the standard 12.4kg a bar,
Thats amazing that a university has that much in investments, must be a damn huge university to accumulate that much cash.

i bet all those students paying higher tuition fees are just happy as hell about this. "son, we just raised your yearly tuition 4 thousand dollars...why? no,no,no, not for more teachers or scholarships, because UofT needed the money to buy gold bars"..."have that check in the mail, son, we may need to buy more"

From the little I've read this morning on this, this news could trigger a big buying spree of PM's which would cascade into breaking the Comex and degrade the $ further.

In a SHTF financial scenario, it will first be ugly, very ugly, then over years, things will improve, new currency and trade will be developed, but during the interim you will be best off to have all little of everything, food, water, shelter, protection, and currency(PM"s).

reply to post by iNTERPLANETARyR.O.M.E.O.


agreed it is quite valuable as a resource... electronics operate best with gold instead of copper...

good call....


Where exactly is this stored...... A little socialism might be called for here... help[ spread some of the wealth

here is a 5-year chart on gold:

www.marketwatch.com...

looks bad to me if you only have dollars...or good if you own alot of gold.

While I appreciate the seemingly paradoxical stance of the INTJ mindset, that of practicality being portrayed via extreme abstraction, it's only accurate in this case depending on the severity of a SHTF type of scenario.

You can't eat gold? No, but you can eat of that which is universally traded for goods and services. That is gold and silver.

Look to Argentina when they had their social collapse in 2001. Almost immediately, the local gangs set up black markets to trade goods. Gold and silver was, OF COURSE, accepted. If there is chaos, it will take some time to be entirely violent anarchy. WHY?? Because there's a lot of stuff floating around the land to be traded before a good chunk of us has to resort to killing each other to survive.

IF the collapse doesn't last long, then gold and silver will likely be enough for people to trade, depending on several variables, like where one lives.

So, it's not as easy as: Gold is worthless in a SHTF scenario, or that it's the best buy... it depends.

Please add any comments to the existing thread found here...

www.abovetopsecret.com...

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