a pocket full of Krugerrands and sovereigns will see you through a lot my friend. As every financial analyst says, at least 10% of your investment portfolio should be in gold. I would go so far as to say another 10% should be in silver. I would go even further and say that it should be physical gold and silver. Gold is at 1750/ounce. I'm not selling mine. not even at that price. There is nothing on the horizon but more chaos and inflation. Contrary to what you may believe, gold absolutely is insurance in such times. That's why it costs $1,750/ounce right now.
Agreed...gold can be a good investment.
“I would go even further and say that it should be physical gold and silver”
Agreed...if it is not in your possession then all you have is paper, just like paper money.
“I'm not selling mine”
Are you buying?
“There is nothing on the horizon but more chaos and inflation.”
Agreed...things do not look good at this time.
“Contrary to what you may believe, gold absolutely is insurance in such times.”
Insurance against what? Lose of wealth? Even with gold you can lose wealth which means it is not true insurance. It is an asset and that is what makes it normally a good investment.
“That's why it costs $1,750/ounce right now”
It is at $1750/ounce because people are willing to buy it at that price right now...partially because they have bought into the idea of it being insurance...”the only safe place to put your money”.
I agree that having some gold might be useful in a depression if you could actually use it to barter with. But I think that there will be much better things to barter with...things people need to survive. I do not need my gold to survive.