"Harry Krause" wrote in message
. ..
RG wrote:
"Harry Krause" wrote in message
...
RG wrote:
From page 2:

"Reallocate your financial assets so that you are as best
positioned to handle these issues as you can realistically
hope to be."

Where would that be?

Under a mild version of the scenario, cash would be king. Under a more
extreme version, even cash would be useless, as would any financial
asset. At that point it comes down to food, water, shelter, and
weaponry.
Gold.

Nonsense. That's a myth. Leading up to the crisis, gold will indeed
shine. There is no reason for it, but it will happen. But once the ****
really hits the fan, it will be of little real value. Tell me how you
eat or drink gold. Tell me how it shelters you from the cold. It can
make an effective weapon at extremely close range. It's heavy as hell
and a bar could easily smash an opponent's skull, but there are better
choices for that.

Gold is one of the world's most strange assets. Unlike industrial
metals, gold has almost no intrinsic value as it relates to global
economic production. And yet it has always been a prized possession.
The vast majority of the world's gold production is consumed by the
jewelry industry. Another very small percentage is used by the
electronics and technology industries. But if life comes down to food,
gas, and bullets, bling will have very little value on the street in a
barter-based economy. Gold in any meaningful quantity is extremely
cumbersome and will only slow you down in your quest for survival.

Gold has been highly valued for thousands of years. Gold coins *are*
attractive in a barter-based economy.

Only by conventional tradition, I suspect. I don't understand these things,
but I think I agree with RG. In the upcoming world crisis I can't see gold
as being valuable for anything. Platinum, maybe, but not gold.

I am going to hold onto the 500 gals of diesel fuel currently stored in my
boat and sell it off, quart by quart when I need cash.

RCE