I watched this video and thought, "what idiots", "man are they in for a surprise!"
Then I read this article by Gary North, and thought "oh, oh, maybe I'm the idiot."
I've been convinced, am still convinced that Federal spending and Federal Reserve policy will cause economic collapse and total failure of US fiat currency. So I thought the wise choice would be to invest in precious metals, primarily gold and silver.
I thought well if currency becomes worthless, then someone with gold and/or silver will be able to use it instead of currency to buy food and other essentials from fellow citizens. But if fellow citizens are too stupid and/or ignorant to recognize the value of gold/silver; what good is it?
I still believe gold/silver is a great investment and will continue to rise in value against the dollar as long as the dollar remains a viable form of exchange and there are precious metals dealers and investors doing business, but if Mr. North is correct, then anyone who has bought gold/silver as insurance against currency collapse better have perfect timing and liquidate it at just the proper time and convert it into goods which can then be bartered to the average stupid/ignorant citizen.
Upon reflection, I think that since gold and silver have historically been considered money, the stupid/ignorant citizens will come around.
What is your take on this?
These folks would take gold instead of dollars any day.
No wonder this country is in so much shit.
ReplyDeleteWhat a pathetic bunch of thumb sucking turds.
As I am a believer in holding precious metals as the hedge for inflation, I also am dehydrating veggies and fruit plus vacuum packing pasta, rice, and beans. Also am hoarding stuff like 2-stroke oil, motor oil, tyranny fluid, bullets, screws, and nails for barter. Although my list is not complete, it is a start. I think money will be a short lived standard when/if theTEOTWAWKI hits.
ReplyDeleteIdiots like those in the video will soon learn what commodities, like gold and silver, are valued as when they try to use a wheel barrow of cash to buy a gal of milk.
Movies like "The Road" illustrates what life may be like in a post appocolytic event. Food, water and firearms are your best friend in any event. IMHO.
Many years ago on the Tomorrow Show with Tom Snyder (think '70s), Tom had a guest who talked about the enduring value of gold. He said, "Tom, a hundred years ago a man could ride into town with a $20 gold piece, buy a first rate suit of clothes, and have enough left for a really first rate dinner. Today, Tom, with that same $20 gold piece, you still could."
ReplyDeleteYeah, the Gary North article rattled me. I had never seen this point of view and it went against everything I assumed, but I think he is wrong. Gold/silver has always been and will always be considered valid tender. Now having said that; if things are so bad that everyone around you is starving, then only food and weapons will be of value.
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