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Why Gold Would Be Useless in an Economic Apocalypse: Seriously, stick with the canned goods
The Atlantic ^ | 12/27/2013 | JORDAN WEISSMANND

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 apocalypse—as 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 times—and at today's prices, a $1 million in gold coins would fit in a suitcase—would 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, I’d rather not have bought as much gold as possible.


(Excerpt) Read more at theatlantic.com ...


TOPICS: Business/Economy; Society
KEYWORDS: apocalypse; cannedgoods; gold; preppers
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1 posted on 12/27/2013 5:44:31 AM PST by SeekAndFind
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To: SeekAndFind

Ammo would be quite valuable also.


2 posted on 12/27/2013 5:46:20 AM PST by RoosterRedux (The only true wisdom is in knowing you know nothing -- Socrates)
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To: SeekAndFind

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.


3 posted on 12/27/2013 5:46:50 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: SeekAndFind

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


4 posted on 12/27/2013 5:48:26 AM PST by silverleaf (Age takes a toll: Please have exact change)
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To: SeekAndFind

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.


5 posted on 12/27/2013 5:48:57 AM PST by Daveinyork (IER)
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To: SeekAndFind

Something tells me that the author really did not have Ezekiel 7:19 in mind when writing this.


6 posted on 12/27/2013 5:49:49 AM PST by Olog-hai
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To: SeekAndFind

And coffee would be especially precious.


7 posted on 12/27/2013 5:50:18 AM PST by Daveinyork (IER)
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To: SeekAndFind

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!!!


8 posted on 12/27/2013 5:51:03 AM PST by BCW (Salva reipublicae)
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To: SeekAndFind

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.


9 posted on 12/27/2013 5:51:19 AM PST by Gaffer
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To: SeekAndFind

A friend of mine at www.surviveusa.biz sells fractional gold-—very small denominations that would be perfect for exchange.


10 posted on 12/27/2013 5:51:26 AM PST by LS ('Castles made of sand, fall in the sea . . . eventually.' Hendrix)
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To: SeekAndFind

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.


11 posted on 12/27/2013 5:52:51 AM PST by ThePatriotsFlag (...and to the Republic for which it stood.)
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To: RoosterRedux

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.


12 posted on 12/27/2013 5:53:12 AM PST by cuban leaf
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To: BCW

“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.


13 posted on 12/27/2013 5:54:01 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: cuban leaf

Better than big bottles would be cases of plastic pints of whiskey.


14 posted on 12/27/2013 5:54:46 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: SeekAndFind
Fiat paper money is a relatively new phenomenon. Undebased gold and silver currency worked for thousands of years. Then the romans started to debase their hard currency. But barter with REAL gold will work just fine. In a SHTF scenario I would trade my goods and services for gold and silver.
15 posted on 12/27/2013 5:54:57 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: BCW

I have no gold, but I have quite a bit of junk silver.


16 posted on 12/27/2013 5:55:38 AM PST by cuban leaf
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To: RoosterRedux

Right on.


17 posted on 12/27/2013 5:55:57 AM PST by Venturer (Half Staff the Flag of the US for Terrorists.)
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To: MrB

The author is forgetting that a bag of gold will be worth more than a bag of Benjamins.


18 posted on 12/27/2013 5:56:46 AM PST by cuban leaf
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To: appalachian_dweller; OldPossum; DuncanWaring; VirginiaMom; CodeToad; goosie; kalee; ...

Preppers’ PING!!


19 posted on 12/27/2013 5:57:27 AM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: SeekAndFind

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.


20 posted on 12/27/2013 5:58:53 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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