Originally Posted by
Mick
Scott, you are quite knowledgeable and reasoned. However, that is also the flaw in your argument. Panic is neither knowledgeable nor reasoned. Cash, however devalued, will still provide the basis as a medium of exchange. Can you imagine buying a bag of groceries or a tank of gas with copper? How much copper is a pound of coffee worth? Even the term "worth" implies an amount of cash. While I do stockpile metals, the end result is to exchange it for cash.
Mick, I understand your argument, but regardless of whatever cash may or may not be worth, gold and other precious metals are always worth something. And if the worst possible scenario were to happen, such as the US Government being overthrown or a complete and total economic melt down, or all electronic banking information lost, cash will serve no purpose yet gold, silver even copper will. And so far as cash being a medium of exchange, there is a real effort currently taking affect to make cash obsolete. The Federal Reserve as well as the US Government, sees a future where people no longer use cash, for many reasons, but instead use debit cards, and in the future perhaps a chip under your skin or even just your face, there is technology currently available for both of these solutions.
I currently pay for many things with silver, and gold for that matter. And do so to good affect. If I were required to, I could easily directly exchange precious metals for anything I need, it might be a little more difficult than exchanging cash for goods, but I can, and do, for most things I need.
Scott
no sarc)
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