December 30, 2014 Our Dysfunctional Society, US Fiscal Policy, US National Security Policy Add comments
Like most of the civilized world (it seems anyway) I am on Facebook, and a recent post (and comments in response) about how bad (or good, depending on perspective) Barack Obama is as president morphed into a private discussion between a commenter and me about hoarding gold, or being a “Gold Bug”. It is my contention that hoarding gold, or any precious metal for that matter, is a useless endeavor when done as a hedge against a declining or collapsed economy.
Rather than waste a lot of time doing what amounts to re-writing my comment on hoarding gold, I’ll simply share what I wrote on Facebook here:
Carlos, I’m one of those nuts who believes there WILL be an economic collapse. It really doesn’t matter how it happens…intentional due to progressive policies designed to intentionally collapse the system via Cloward-Priven or accidental collapse once the rest of the world gets tired of being paid in worthless dollars that QE whatever number we get up to and decides its time to recognize its worthlessness and chooses to go on some standard besides the dollar.
Regardless of how it happens, the economy WILL collapse.
When it does, civil unrest will inevitably follow, especially in urban and suburban areas. When the shelves at Publix and Kroger go empty and the gas stations cannot pump gas because they don’t have any, dollars…and gold…will be worthless.
What WILL have value? What WILL make a person “rich”, whatever that means?
Simple. The items or skills that will allow people to live, hopefully with some comfort.
A substantial garden, raising a pig or two, a flock of chickens for meat AND for eggs, the ability to communicate outside via cell phones and the Internet like Ham radio operators with stations running on solar, people who can repair “things” (think the old village blacksmith)…THOSE are what will have value and will be valuable as currency.
Gold will be as worthless as the dollar simply because you can’t eat either.
I do all of the above except functioning as the village smithy. I produce my own veggies…and surplus for others. I raise my own pork and poultry…and surplus for others. I am a Ham, and am one of the few that can actually find out what is going on, in the next county, the next state, or across the pond…
And if…when…the time comes, you can’t trade for any of it with dollars or gold, as they would do me no good. I can’t eat them.
I raise pigs. Bring me a side of beef to trade for some pork.
I make my own diesel fuel for my pickup truck. Bring me the skills to repair that truck that I will trade for eggs and poultry.
But DON’T bring me gold.
Oh…one more thing. Come to trade, not take. I’m also well armed, with guns and ammo sufficient to start a small war.