[Nick Danger]

with folks like Merrill Lynch suggesting 5% go into gold and silver bullion, that must be considered also.

I assume that the intent of that advice is to protect against the really, really, worst case where literally everything goes to Hell. If it comes to that, I'd rather have one of those new Smith & Wesson 50 caliber pistols than any amount of gold.

My ex mother-in-law used to keep 10 cartons of cigarettes in her extra freezer. That was her "gold" in the event that the social order broke down and she needed something that would have purchasing power no matter what.

[Publius]

See #27.

That pistol may help you defend yourself, but you'll need a medium of exchange if the dollar gets crushed.

[WatchNKorea]

"My ex mother-in-law used to keep 10 cartons of cigarettes in her extra freezer. That was her "gold" in the event that the social order broke down and she needed something that would have purchasing power no matter what."

Exactly what I've been suggesting. - In post #3, Capitalism2003 says he's been purchasing American silver eagles and so in the back of his mind, I'll bet he's considered that if ....'social order broke down' he knows that he could use his silver eagles to barter with -just the way your ex-mother-in-law could have resorted to using her cig. cartons if she had needed to.

[SauronOfMordor]

My ex mother-in-law used to keep 10 cartons of cigarettes in her extra freezer. That was her "gold" in the event that the social order broke down and she needed something that would have purchasing power no matter what.

I'm with you on this. If things turn completely to hell, we won't go to gold, we'll go to barter. The prime barter goods will be things that have intrinsic value: cigs, scotch, ammo, food, a warm place to sleep. You can't eat gold, nor will it be useful in fending off the bad guy who's climbing in your window to see what he can take from you.