Skip to comments.Why Gold Would Be Useless in an Economic Apocalypse: Seriously, stick with the canned goods
Posted on 12/27/2013 5:44:30 AM PST by SeekAndFind
Since November, financial advisor David Marotta has been publishing a series of blog posts on how to manage your money in the event of a financial apocalypseas in a world of hyperinflation, governmental collapse, and anarachic mobs. You know, the standard stuff of a doomsday prepper's fever dreams. While Marotta admits he has some fears about the direction of the country (the man's not an Obamacare fan, to say the least) most of it seems to be fairly tongue-in-cheek material aimed at talking potential clients down from investing in some of the crazy, survivalist scams advertised on conservative talk radio. (Sadly, The Washington Examiner seems to have missed the humor).
And the first scam on his agenda? Plowing all your money into gold, of course. Here's his biblically inflected explanation of why toting around a suitcase of gold come the end timesand at today's prices, a $1 million in gold coins would fit in a suitcasewould be a suboptimal strategy:
If there really is a collapse of the money supply it is difficult to believe that your briefcase of pretty coins will still have any purchasing power near $1 million. In the 1970s, Christian singer Larry Norman made popular the Apocalyptic song lyric, A piece of bread could buy a bag of gold based on Revelation 6:6. In The End, Id rather not have bought as much gold as possible.
(Excerpt) Read more at theatlantic.com ...
Ammo would be quite valuable also.
Yes, gold would be useless IN the economic collapse.
But that’s not what it’s for. Screwdrivers are useless when used as paint brushes, too.
Gold is for preserving wealth until the recovery.
how many canned goods and sacks of flour fit into a bug-out bag if the situation dictates re-location?
not everyone (actually very few folks) can build a long term fortress to defend their stash). eventually the zombies will find the fortresses and eventually the ammo will run out
easier to use junk silver to buy some sugar, aspirin, or a gallon of fuel, than figure out how many cans of peas to trade for it
If gold would still have value, people with guns and ammo would take it. In the case of a collapse, guns, ammo, nonperishable food, and soap would be valuable, and soop could be used as currency, assuming we don’t totally sink to savagery. It can be easily divided and subdivided.
Something tells me that the author really did not have Ezekiel 7:19 in mind when writing this.
And coffee would be especially precious.
Gold hording was good when a local region experienced chaos...the user of gold could move to an economy that still had their system up and running...the problem today is that there would be no place to move that would not be affected by global economic chaos....so horde the items needed to survive...gold should not be one of them...ammo and canned or dried foods ...wine...distilled spirits...medical items...weapons..both blade, gun powder, and archery types will be more valuable than some shiny block of gold!!!
While I have a modicum of staples like that, I am of the persuasion that a typical garden variety bullet will have more tradable value at the micro level.
A friend of mine at www.surviveusa.biz sells fractional gold-—very small denominations that would be perfect for exchange.
Ammo absolutely and canned food. But I’m still betting on dimes. Got a bunch stashed away with my lifetime supply if incandescent light bulbs which will be useless.
I’ve also wondered about hard liquor. You can get family sized bottles of GOOD rum and vodka at Costco for about 15 bucks.
But then, the things that will REALLY get you through are a large garden, guns/cartridges, solar/wind power and a good source of water.
“An economy that’s up and running”
can be in a different geographical region,
but it also can be in a different temporal setting as well.
That’s what gold is for - “transporting” wealth to the working economy, whether it is located somewhere else, or somewhen else.
Better than big bottles would be cases of plastic pints of whiskey.
I have no gold, but I have quite a bit of junk silver.
The author is forgetting that a bag of gold will be worth more than a bag of Benjamins.
It is always those without gold and silver that trash it’s usefulness. Do you think those holding gold and silver will be unarmed waiting for someone to steal it? LOL.
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