>> When I wrote that gold held its value I meant exactly that: preservation of value.
> Re-read the articles. ... If you're looking for long term inflation protection (50+ years) then it doesn't either.
How about some specific references? This was not productive (especially since the second reference is behind a paywall). Quote a specific statement and we can drill into this.
> If shit really hits the fan, you wouldn't be able to convert to a currency that you could actually live on so this point is moot.
Forgive me for what I am saying next (it is not a payback for your "re-read the articles" comment; honest), but I find statements like this incredibly naive. I think you have a pink pony view of the "catastrophic risk". Have you seen civil wars? real hunger? deaths from easily treatable infections? cannibalism?
Throughout this type of crap having some physical gold is one of the most reliable tickets out. You can often trade it (with significant haircuts) for stuff you need or a safe passage. Yes, you have to deal with underworld or gangs, but this is still much better than the alternative.
I am now one of the "rich, soft americans" and I hope my kids do not have to go through any of this. And I personally do not see it likely in the US, at least in the next 10-20 years. But the world can change fast and I still want to have a few gold coins in my physical possession, together with a good knife. No offense, mate, and good hunting!
> Re-read the articles. ... If you're looking for long term inflation protection (50+ years) then it doesn't either.
How about some specific references? This was not productive (especially since the second reference is behind a paywall). Quote a specific statement and we can drill into this.
> If shit really hits the fan, you wouldn't be able to convert to a currency that you could actually live on so this point is moot.
Forgive me for what I am saying next (it is not a payback for your "re-read the articles" comment; honest), but I find statements like this incredibly naive. I think you have a pink pony view of the "catastrophic risk". Have you seen civil wars? real hunger? deaths from easily treatable infections? cannibalism?
Throughout this type of crap having some physical gold is one of the most reliable tickets out. You can often trade it (with significant haircuts) for stuff you need or a safe passage. Yes, you have to deal with underworld or gangs, but this is still much better than the alternative.
I am now one of the "rich, soft americans" and I hope my kids do not have to go through any of this. And I personally do not see it likely in the US, at least in the next 10-20 years. But the world can change fast and I still want to have a few gold coins in my physical possession, together with a good knife. No offense, mate, and good hunting!