Posted by RodInNS on February 28, 2011 at 11:35:05 from (216.118.158.123):
In Reply to: Re: PREPAREDNESS posted by Detmurds on February 28, 2011 at 07:51:31:
They've got to find the guns... and the ammo. Plus they've got to stay alive to take them...
Seriously... you should look at the stats on how much gold actually exists in refined form in the world today and how much is actually 'used'... I mean in the industrial sense where it has a purpose. It's very, very little. Silver was once in much wider use but not so much today. The values we place on gold and silver are really only a reflection of what they're worth to us. That's the point I'm making. They have little inherent use or application otherwise.... so it's really just about the shiny factor. The value is and always was imaginary. The US has not tied the value of it's dollar to gold since 1973? Somewhere there anyhow... simply because they could no longer hold it there due to inflation. The UK ceased to tie the value of the Pound to gold in 1930... so in effect, the dollar/pound/euro is no longer denominated in gold... but the other way around. Gold is denominated and valued in dollars. So... in my opinion, gold is truly, absolutely worthless. To someone who is starving, gold will do them no good... and they can ill afford to have gold for vanity. Even if we end up having a new 'world' currency, gold will still only be exchanged in that denomination... As far as dollars in the mattress or in a bank account... they're going to inflate/deflate at the same rate in either place. On one side you risk losing them to theft/fire. On the other you risk losing them to bank collapse. I think I'd be more inclined to take a chance on the deposit insurance than the burglar... Personally I don't put much faith in the few bible thumpers that promote this end time stuff. They're taking a very narrow view of something they scarcely understand and whipping up histeria to promote their own agenda. It could go bad... or we could come to a realization that we need to start manufacturing things on this continent again... at a rate that the economy can absorb that growth or inflation will spiral out of control with intrest following close behind. It could go bad... for the simple reason that we've spent the last 30 years exporting our manufacturing jobs offshore... effectively controlling costs... and inflation... while everyone here spends their time on twaddle... working in a 'service' economy. We're busy shuffling money around while we shuffle our resources off to the chinese. There may well be a reckoning for that...
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