Are you strapped in? Because there is no way Trump comes back until this thing is in full force.
(media.greatawakening.win)
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How? Do you plan on handing them a gold nugget for groceries or gas? Pay an electric bill? I just don't believe that gold is functional. I understand it will be traded for something but what? I'm more worried that the government will stop sending out my soc sec.
Some places in South America are doing just that. Shaving slivers off coins until buyer and seller agree on the amount.
Not necessarily nuggets, but coins. Coins were currency for thousands of years before paper or digital money. They will be again if paper/digital money are inaccessible or rejected. Bullion and nuggets are less useful for daily life but are a good way to preserve wealth through a crisis. Eventually some form of digital or paper currency will be restored and it will have an exchange rate with gold, guaranteed
I realize that but you just can't remove a currency and not have a replacement, I understand investments but frankly to me investment is not as important as survival. I had $50k in my mattress and I'm using it to buy things that keep me and mine alive in case the transition take awhile. I'm not looking to make money until life stabilizes. Call me stupid but I'm not depending on clutching my "coins" while I freeze or starve. You may trust the gold standard and is timely approach as the banks go down but I have two thoughts. One we are on our own and the time they are stretching this out isn't to wake normies but to get us to prep for another deep depression. If this happens I'm not expecting normal commerce, I think transportation will be effected, factory farming of all sorts will be brought down, don't you think trading with our neighbors (I trade you a bushel of potatoes for 5-6 chickens) will win out over normal commercial trading? The other option is a scare event that lasts a short while and my preps are still usable. I may end up using any remaining funds as TP but I'm hoping if that happens along with the short transition, that the government with take them at the new face value. Thats what they dud when they took silver and gold coins out of circulation before. Having said all that we all have to do what is best for our unique circumstances. I live in the country so my choices would definitely be different then a city dweller. All we can do is hope we all make the voices that gets us to the other side of this crisis. Best wishes fren
It is extremely doubtful "old cash" will be taken at face value under a new currency. The whole impetus behind a new currency would be that the old dollar lost too much purchasing power.
However, it is extremely likely that gold (and silver) will have just as much purchasing power under a newer, stablized currency. Just as much, or more, if the prices are truly being artificially suppressed as some claim.
So in the transition period I think gold and silver coins will have value in commerce, as everyone will expect them to still have value when things stabilize.
Having said that, since we do have to guess how long the transition might be, self sufficiency is a better investment than precious metals, if you are forced to choose one or the other.
Agreed. I didnt have the words to explain a possible exchange. Would think that if the old dollar purchasing power would drop and be exchanged for a new "dollar". If that dollars purchasing power equals 10 cents of the new dollar, so be it. Yes, the purchasing power would dramatically decrease. I could be very wrong though.