So if you have rolls of $20 gold coins, how are you going to spend it? Say if you want to purchase a pack of gum, will you hand over a $20 gold coin? What will you get back for change? Sorry, but holding precious metals isn't the best solution unless you purchase large items. Silver? Maybe, but it still is pretty pricy to buy a pack of gum. How about we just keep greenbacks and use that at the medium of exchange. We might not have a government, but the dollar bill is still a good medium of exchange. JMHO
There will be a set amount gold and silver is worth per gram that does not fluctuate. You would change your gold for cash at the bank or receive your change from the gum at the price of conversion minus the cost of the gum.
Gold and silver will back the currency unlike we have now where the paper is not backed by anything. You'll use your metal to exchange it for the currency in place as your mode of purchasing.
In my opinion the reason to stack Gold and Silver is for wealth preservation not as a form of exchange while in the crash. Once a new currency has been established then you convert the Gold and Silver into the new currency. If you just have old dollars, even as cash, it will become worthless just as Weimar Republic marks became wallpaper.
So if you have rolls of $20 gold coins, how are you going to spend it? Say if you want to purchase a pack of gum, will you hand over a $20 gold coin? What will you get back for change? Sorry, but holding precious metals isn't the best solution unless you purchase large items. Silver? Maybe, but it still is pretty pricy to buy a pack of gum. How about we just keep greenbacks and use that at the medium of exchange. We might not have a government, but the dollar bill is still a good medium of exchange. JMHO
That's the plan... Gold and Silver will most likely be back by the dollar? One thing at a time/ will see what happens :)
If the whole thing implodes until it rights itself, I'm considering barter to be an option as well. Goods, skills, raw materials....I like options.
That's the economy I'm ready for.
Sounds like a plan fren....
There will be a set amount gold and silver is worth per gram that does not fluctuate. You would change your gold for cash at the bank or receive your change from the gum at the price of conversion minus the cost of the gum.
Gold and silver will back the currency unlike we have now where the paper is not backed by anything. You'll use your metal to exchange it for the currency in place as your mode of purchasing.
In my opinion the reason to stack Gold and Silver is for wealth preservation not as a form of exchange while in the crash. Once a new currency has been established then you convert the Gold and Silver into the new currency. If you just have old dollars, even as cash, it will become worthless just as Weimar Republic marks became wallpaper.