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’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.