Rev. Skarekroe: Nadie_AZ: I saw an episode of 'Preppers' and the guy was melting down all his gold into a huge 'ingot'. He said this way he could use this to barter for anything- food, ammo, clothing, medicine, etc. My first thought was 'you'd spend that entire ingot on a bag of corn? you won't get change back'.If the sh*t were to hit the fan tomorrow, gold would be worthless anyway. The guy with the food, ammo, clothing, medicine, etc. is going to own your ass as slave labor for a few decades before an economy based on money evolves again.
Atomic Spunk: Perfectly stated. Another possible reason for the abundance of gold haters - they missed the big price moves in 2009, 2010 and 2011 and now they can't afford to get in. So rather than acknowledge their missed opportunity, they instead cast gold investors as ignorant followers of Glenn Beck or whacked out doomsday preppers. They are incapable of imagining that someone buying gold might be a completely normal, rational investor who isn't stupid enough to pay 80% over spot price, and who doesn't believe in the the near term end of civilized society.I think the reason we don't see too many gold threads when gold goes up is because most of the big moves are down. But yeah, $30 down isn't that bad for gold. I'm certainly not concerned. But then again, I wasn't too concerned in Q4 of 2011 when gold started to drop from its record nominal highs. Seems like 90% of the people commenting about gold at that time were convinced that the bubble had popped and gold was due to drop to sub-$1,000 in the near term. I still think the gold bull maket has some life left, and the really big moves up will coming up in the next 2 years.
Raharu: Screw Gold. I'll be the post apocalyptic honey baron!
Nadie_AZ: The guy who is charismatic and able to unite people will be the one that rules- not some hermit who has to hide to protect his survival cache.
xynix: Time for the big banks to pull out of gold leaving all the idiotic retirees holding 75% of what they put in or less. Wonder where the ultra rich are going to put their money now? Oil is still kind of saturated.. It's too early to over-inflate the housing market again. Not enough companies left in America to Bain-Rape. It's still too premature to for Genomics.. Not enough BioTech types to create a bunch of fake companies packed with vaporware. Hmmmmm. I'm stumped on this one.farkit I'll go buy more corn.
Nadie_AZ: I saw an episode of 'Preppers' and the guy was melting down all his gold into a huge 'ingot'. He said this way he could use this to barter for anything- food, ammo, clothing, medicine, etc. My first thought was 'you'd spend that entire ingot on a bag of corn? you won't get change back'.
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