Gold., page 2

reply to post by QuantumDisciple

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Great points on all these pros in the use of gold as a medium it just doesn't fit my definition of intrinsic value. Like your rice example, the fact that it is food gives it it's intrinsic value.

Anumohi makes a good point about gold's real intrinsic value but these are far below the value given to it by the current market.

Originally posted by daskakik
reply to post by QuantumDisciple

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Great points on all these pros in the use of gold as a medium it just doesn't fit my definition of intrinsic value. Like your rice example, the fact that it is food gives it it's intrinsic value.

Well I wish you good fortune in the vehicle to decide to store your wealth with. Anything is better than nothing =)

reply to post by daskakik

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Having a stockpile of gold to barter with is not the answer to all SHTF senarios.

Consider a full blown Extinction Level Event. A comet strike perhaps. This ELE wipes out 99% of the human race. At this time gold would be a bad thing to try and barter with because gold would be easy to find and very common in relation to the populace left to survive. People could find gold in abandoned jewlery stores, banks, homes, pawn shops, on the corpses of the mass death. The amount of above ground gold, per capita, would dilute it's value.

There is no cookie cutter answer to prepare for a SHTF or ELE. The most valuable asset is not food, water, ammo, or gold...it is KNOWLEDGE. What good is a stockpile of food if you are too stupid to ration it or to hunt/gather new sources of food.

reply to post by QuantumDisciple

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That is exactlly what I meant. Barring ELE gold is good because there will always be a market for gold. There will be those who value it beyond its intrinsic value.

Originally posted by amfame
reply to post by QuantumDisciple

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Text Redwow this is amazing

edit on 21-6-2011 by amfame because: (no reason given)

Text

reply to post by QuantumDisciple

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I really don't get why paper with people's faces is Fiat and a shiny mineral is Real. I mean, the only real difference is that paper is ubiquitous and abundant while gold is rare. Is that the only thing that makes it valuable? Sure it can be made into things, but, so what?

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