I get it that gold is insurance against inflation. And, it's real money in an economic catastrophe.
My question is on behalf of the Anons who may have purchased some gold coins (but lost them in the lake). If we paid $1000 for one 1oz coin, and the US goes back to a gold-backed standard and values gold at $35/oz., that is quite a loss! I am not that is what will happen, but I present that scenario as part of the broader question: What would gold need to be valued at in our fiat US$ currency in order to be the backing?
Any Anons have a sense for the future value of a gold coin in the gold-backed dollar scenario? A lot of people have purchased gold coins hoping that they will revalue north of $20K or $50K to accommodate all of the fiat floating around. But I just can't see the elites letting people get "rich" so easily.
I agree... it’s the only thing that’s guaranteed to get even the most ignorant peoples’ attention.... but I’m at a loss what to do. I don’t feel comfortable converting ALL of my money into gold and silver.... so I’ve just been saving, but I’m worried because that money is just losing value by the day. I don’t know that it’s a good bet to invest it in real estate because property prices are still crazy high and interest rates are astronomical. Trying to be smart, but there are so many ways the future can play out. Fundamentals are out the window. Personally... I think the US economy is already beyond the precipice of collapse.... it’s only through free printing, media narrative spin and manipulative accounting that there exists an illusion of stability.... any day now, I think the free fall starts. I’m just trying to come out of this better of than I started... financially speaking
I’m not putting all of my eggs in one basket either. I converted some of my investments to bullion, but my RRSP’s get taxed at 50% if I pull them out, so I’ve weighted them more to commodities and “production” stocks. Hopefully those will hold value or rebound.
I’ve also made sure to stock up the pantry, bought water filtration, and a generator. This stuff is always good to have on hand anyways.
I’m really hoping that they will minimize the damage, but I figure that we’ll spend a few weeks/months staring into the abyss wondering how virtually everything we had was stolen/destroyed.