[competentone]

Originally Posted by Porsche-O-Phile

Yea kinda...

Could it happen? Sure. Likely? No. But certainly possible...

Think of any seriously broken/war-torn country that suffers from inherent poverty problems. Places like various countries in central Africa, Afghanistan, Bosnia, etc. Heck, even Iraq to some extent... How valuable is gold in those places? Now how valuable is gold as opposed to medicine, food, electricity, running water, safe passage for one's family from X to Y, etc.?

Gold isn't a BAD thing to have some of, but I doubt having lots of it will ever really insure one's survival if the S.H.T.F.

I've explained this before, but will explain it again since it is so important.

The "collapse" we are witnessing -- and will continue to see -- is the collapse of fiat money.

Money is a tool in the economy which people use to indirectly barter what they have produced. In a technologically advanced society like ours, direct barter for most of the population is a virtual impossibility. The tool of money is needed so that people can exchange the goods and services they produce.

The people and capital investments (infrastructure) will still exist in this economic collapse when it reaches its climax, but the critical tool that makes it all work -- money -- will be broken.

The economy will "repair itself" when the fiat money breaks with people choosing new forms of money. History has demonstrated that when fiat money collapses, the metals of gold and silver provide effective substitutes.

Of course, the risks are high that additional government action will further damage the economy (besides the damage the government is doing to money) -- such as the government implementing "price controls" as the dollar collapses.

These additional government actions will create massive problems in the economy so that even those with gold and silver as a replacement for the collapsed fiat currency will still have difficulties obtaining goods needed to live.

Owning some gold and silver is no guarantee of "protection" against the economic turmoil we are entering, but understanding that the root of the problem is a collapse of fiat money, should help people understand that owning gold and silver is a practical measure to take in preparing for the hardships we will be facing in the future.