www.zerohedge.com
I think the answer lies in trust. You can go nearly anywhere in the world and buy nearly anything with a USA $100 bill. Our economy is kept afloat because we have trust in our paper money and the rest of the world believes that too. As long as the rest of the world keeps debasing their money the US dollar will be trusted and used. That being said, of course there is a breaking point. That will not be a good day. Tuesday October 29, 1929 (Black Tuesday) is a good example. A lot of wealthy people unalived themselves that day. It will be bad here. It will be much worse everywhere else.
yeah, like central banks lol.
I would use Silver coins at the gas station or supermarket. Gold coins will hold value over the long term. In the 1980's i used to read American Survival Guide magazine. There were ads every month for dealers selling gold at $300/oz . Now that gold is $4,200/oz . It's a good store of value like property.Buy buy buy gold?.......................when it come to a recession it will be very hard to sell it except at a huge discount....little people screwed again by design..like the dozens of sports betting apps now on line to bankrupt the little guy fast.
Co Pilot:
How Sports Betting Apps Can Lead to Bankruptcy for Casual Bettors
Multiple studies, attorney reports, and case studies show that mobile sports betting can rapidly escalate casual wagers into tens of thousands of dollars in debt, with some users filing for bankruptcy within monthsBettors Insider+2.
Take 1 oz to your local supermarket gas station in a crisis. They will give you 1% on the dollar.
Coin dealers will close their doors.
When that day comes, the public will learn very quickly what has worth(Gold & Silver) and what is worthless (paper and plastic). Nobody with two brain cells to rub together will trade Gold for paper. This has happened many times thru history. It's going on in several countries right now. In reality when that day comes you probably wont trade a gold coin for a bucket of Potatoes. Barter will more than likely be the most common form of commerce.
Gold was confiscated and paper money issued.
!933 gold confiscation
In April 1933, President Franklin D. Roosevelt issued Executive Order 6102, banning private hoarding of gold coins, bullion, and certificates. Citizens had to deliver their gold to the Federal Reserve at the fixed official price of $20.67 per ouncec
When It Became Legal to Buy Gold Again in the U.S.
Private ownership of gold in the United States was re‑legalized on December 31, 1974, after being prohibited for 41 years under President Franklin D. Roosevelt’s Executive Order 6102 of April 5, 1933inflationprotection.net+1.
Ok, a couple of points here. 1, yes this did happen. But, slavery and prohibition happened too. Does this mean it's going to happen again? It's doubtful any of those things are coming back. 2, from what i've read about that period the gov't did confiscate Gold, but it was nearly all from the very wealthy, large corporations, and from primarily, the banks. The gov't did not (for the most part) go to peoples homes and take their Gold. This also happened years before with Silver too. Although it wasn't confiscation, it's was just legislated away.Gold was confiscated and paper money issued.
!933 gold confiscation
In April 1933, President Franklin D. Roosevelt issued Executive Order 6102, banning private hoarding of gold coins, bullion, and certificates. Citizens had to deliver their gold to the Federal Reserve at the fixed official price of $20.67 per ounce
When It Became Legal to Buy Gold Again in the U.S.
Private ownership of gold in the United States was re‑legalized on December 31, 1974, after being prohibited for 41 years under President Franklin D. Roosevelt’s Executive Order 6102 of April 5, 1933
Do you know this "Asian guy" is 100% AI?
Easy, use a Silver coin. Gold coins are there to hold value. Silver coins are there for everyday commerce. Yes, Gold was $20/oz back then, but an average house was only a few thousand. Inflation has happened a lot in the past 150 years.
The rich don't get rich when the economy is doing well.List of recessions in the United States - Wikipedia
en.wikipedia.org
We have had well over 50 major finaincial crisies and recessions in the USA since its founding.
Regular business cycles.
The scam is always to get the litttle investors wealth, like the current push for "little pople" to own gold.
Yes they don't panic. Oddly enough one of the best demonstrations of that (and a great explanation of the purpose of a bank) comes from the movie "It's a wonderful life" with Jimmy Stewart. The scene where he confronts the bank's depositors when there is a run on the bank is excellent. You can probably catch that scene on YouTube.
