To all the guys buying up gold and silver

[2K2 LS1]

My question is not meant to piss anyone off or to ruffle feathers. I just want to know this: If we suffer a global monetary meltdown; why would gold or silver hold any value? Would one have to assume we would go back to the old bartering system? Why wouldn't the gold or silver lose its monetary value as well?

[stevo]

My question is not meant to piss anyone off or to ruffle feathers. I just want to know this: If we suffer a global monetary meltdown; why would gold or silver hold any value? Would one have to assume we would go back to the old bartering system? Why wouldn't the gold or silver lose its monetary value as well?

Even in medieval times when most areas were on a barter system, gold still had a high value.

Stevo

[2K2 LS1]

having progressed to where we are today and the great likely hood we will regress to the point at which we will have an economic melt down and an end of the monetary system we are all used to. I am just not %100 convinced that we will value gold or silver the way to which it once was used; or making them the new bartering systems means of monetary structure. I mean they are simply a natural resource; as is oil, gas, water, and the list goes on. I see those having just as much or more value being that they are depleting non-replaceable natural resources. I guess time will tell but I am a little skeptical. That and the fact that most of the gold and silver held in big quantities by individual would immediately become the target of the less fortunate and desperate in the time of a melt down of the world's economic structure. My reasoning to this is simple. Everyone has some amount of cash in the bank now, in their pocket, or home safe, etc. Not everyone; few actually, have gold or silver in their possession. That would tend to give it more value of course; but that would also leave a lot more people without and thus causing looting and things that our past has shown us on smaller scales.

[FastFox]

Gold and Silver

Metals will always hold value. If we have a major melt down, there will still be very rich people. There always have been. To the underlings, beans, cornmeal, and bullets will be that of most value. Look at the Indians. An Indian's greatest valued items were an ax, a knife, a gun or bow and arrows and an animal to ride. Those things made him able to defend himself and to feed himself and his family. That was "Basics 101" to the tenth degree.

[Cannonball996]

I bought into gold like a lot of people, but not because I thought the world was headed towards a meltdown, my reasons for investing into gold was to hedge against other asset classes.

[slow06]

having progressed to where we are today and the great likely hood we will regress to the point at which we will have an economic melt down and an end of the monetary system we are all used to. I am just not %100 convinced that we will value gold or silver the way to which it once was used; or making them the new bartering systems means of monetary structure. I mean they are simply a natural resource; as is oil, gas, water, and the list goes on. I see those having just as much or more value being that they are depleting non-replaceable natural resources. I guess time will tell but I am a little skeptical. That and the fact that most of the gold and silver held in big quantities by individual would immediately become the target of the less fortunate and desperate in the time of a melt down of the world's economic structure. My reasoning to this is simple. Everyone has some amount of cash in the bank now, in their pocket, or home safe, etc. Not everyone; few actually, have gold or silver in their possession. That would tend to give it more value of course; but that would also leave a lot more people without and thus causing looting and things that our past has shown us on smaller scales.

Maybe a small percentage of the whole, but I wouldn't say that a small number of people own physical metals. I'm no expert, just my .02

[Bad A$$ Coupe]

if I had gallons and gallons of water and tons of food and you came to me with gold i'd laugh, you cant eat gold.... or buy lots of guns that way if you dont have food or gold you can still get water and food!

[Moose242]

When the Soviet Union collapsed, an underground gold and silver trade sprung up virtually overnight. It lasted for quite a while, as the Ruble was as useless as the paper it was printed on.

Just some food for thought.

Also, I own gold as an investment. It is a safe place to put your money.

[jw33]

Ima rent me a back-ho an uproot dat tree. Give me da gold, I want da gold.

[Slowhand]

Ima rent me a back-ho an uproot dat tree. Give me da gold, I want da gold.

[2K2 LS1]

I am stating on a global economic collapse; not just the US. I am having a hard time seeing gold traded for food the same as gas or oil good be. When you really think about it; gold is just a pretty looking precious metal. Their are far more scarce resources out there that I believe we could base a monetary value on in a bartering system then say gold. Just my personal opinion.

[ELVIS]

I am stating on a global economic collapse; not just the US. I am having a hard time seeing gold traded for food the same as gas or oil good be. When you really think about it; gold is just a pretty looking precious metal. Their are far more scarce resources out there that I believe we could base a monetary value on in a bartering system then say gold. Just my personal opinion.

yeah, but you aint gonna find no unicorns dude!

god bless.

[Forever_frost]

I see firearms and ammunition as more of a global currency than gold. With this bullet I can get food, water, housing AND your gold.

[Broncojohnny]

If money is worthless then commodities become valuable. There are a lot of commodities that can be used for trading. The facts are that a lot of hedge funds and commodity traders have sold the public on the idea that the only reason precious metals are going up is that the dollar is becoming less valuable. The situation in Europe is blowing that idea out of the water, people are running to the dollar rather than precious metals. It is impossible for the dollar to collapse and the US to go under when everyone is using our currency and our debt as a safe haven.

Frost hit the nail on the head, something I have been saying all along since I never bought into the precious metals thing. In a situation of total anarchy lead will be more valuable than gold, just as long as that lead is traveling at 1800 fps.

[Moose242]

I see firearms and ammunition as more of a global currency than gold. With this bullet I can get food, water, housing AND your gold.

I disagree. People tend to over emphasize firearms and ammunition in a scenario involving a total meltdown of society. Sure, both will be important, but food will be the bottle neck. Once infrastructure breaks down, so will food production. Without a constant supply of fuel, we as a society can not farm. The food supplies will run dry within a year, and most will starve to death.

That being said, a financial meltdown is exponentially more likely to happen. This is where gold and silver come in.