It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
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.
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
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.
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.
a soft metal useful mostly for ornamental purposes
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?
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.
Gold will always be valuable to a technologically advanced society.
Keep the shiny stuff to less than 3 percent of your portfolio.
And, if you're really convinced the end is nigh, I say stick with canned goods.