Quote:
Originally Posted by Skybird
If it all should ever collapse, the only things of real value will be real property: land, gold, jewelry, maybe precious and rare collector's items like watches, wine; this kind of stuff.
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If there is a wide spread collapse, none of that, other than land, will have any value. Certainty not gold. Gold has no intrinsic value. Gold is only valuable because people agree to its value. In a catastrophic collapse, all deals are null and void.
If I have a 14 pound bar of gold and am very hungry and you have a loaf of bread, exactly how much is my gold worth? If I am lucky you will sell me half your loaf for my gold. The more hungry I am, the more attractive the deal will be.
Gold is only valuable if there is a limited collapse. Say the EU has a huge financial collapse, I might be able to take my gold to South America and exchange it. The problem is that since the world's economy is so linked, the chances of a catastrophic local collapse while the other economies are still functioning is becoming lower.
I have an open offer for all the gold hoarders out there. When the world wide collapse comes, I will be glad to sell you my food for your gold... at the going rate.
