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I still don't understand how gold is going to be your savior in case of an economic & societal meltdown though. Ok:
1.) You pickup say 10 ounces of gold at $1400/ounce = $14,000. You're intelligent enough to know not to buy paper that says its gold, so you have 10 ounces of actual gold in your safe.
2.) Economy collapses, currencies wiped out, and USD devalues by 60%, causing hyperinflation. Since gold isn't connected to any single currency, your one ounce is now worth more, but due to the inflation, your gold still has the same buying power as it did before.
3.) Mass sell off of gold begins, devaluing the price greatly, making your original purchase even more worthless than it was at the beginning.
Again, maybe I'm dense, but I just don't see how buying gold is helpful. Say this big collapse happens, you can sell right away and break even, or maybe even profit a bit. Otherwise, the only way I can see buying gold being good for you is if you're stable enough to ride out the storm without having to sell your gold. Then when you believe recovery is happening, you sell your gold for like $12,000/ounce, and wait for the currency to rise again. But then due to a massive sell off, gold won't be worth anywhere near that, so it still doesn't matter.
I don't know, I don't understand this shit. Anyone have cliff notes? And preferably not from Glenn Beck and Goldline.
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