Hoarding gold

Oh, so you'd live like a giant douche with a lot of money and no morals, got it. Hell I'm nearly half there now, just need the cash.

You know when I was young people always talked about becoming a millionaire and how great that would be. Now I think if you were in your early 30's or 40's and had a million in the bank you'd probably have to keep working 'cause it just isn't that much money any more.

 

Yes in a real poop hits the fan scenario many things will be much more useful than gold. Supplies such as food, water, ammo, cans of gasoline and medical/hygiene supplies will be most important.

Once someone has an adequate supply of the above things though, it's not a bad idea to have some precious metals.

Should you cash out your 401k and go all in on gold? Of course not. It's just an asset class like any other and any asset tends to go up and down over time.

However I find it interesting that some people call gold a bubble. I'm not sure about you, but when when I see gold related commercials on TV, the commercial is trying to get the public to SELL their gold to advertiser. Something to consider.

Also if you do some research you'll find that precious metals over the last decade tend to trend along with the US national debt/money supply, here are just a few random charts from the net:





So, if precious metals are in a bubble, so is the debt of the US government. Paradoxically many people who tell you not to buy gold in the same breathe will say government bonds are a "safe investment." I would say the two asset classes are more intertwined than most people want to admit (both the gold bugs and bond bugs).

 

I'm thinking about opening a forex account so I can exchange a decent amount US dollars for chinese yuan and just let it sit for like 15 years untouched. Would have to look at the account fees though.

Also, one more bullish thing for silver is the amount of chinese that are getting cell phones. If they become like Americans they will throw away the old phone every two years and the silver goes into the landfill, never to be seen again.

 

Baraka_Guru, I have given careful consideration to your red pill/blue pill offer, and I shall decline. Done bun cannot be undone.

 

cynthetiq, Cryptonomicon was exactly what sprang to mind with that comment.

 

There is no spot market for trading yuan.
It is not a free floating currency.

 

use gold to buy an airplane ticket somewhere else. spend gold. live happy. die