So an economy collapse happens, and you precious metal stackers think it will hold the value that you paid for it? LOL, I don’t think so. Gonna be a hard pill to swallow when one of your $2500 coins gets traded for a half dozen eggs or a dozen 22 long rifle bullets!
Hold value? No... It'll go up, in whatever currency is failing.
As any commodity. Including BTC.
Doesn't make sense to be a millionaire if you have sacks of Prussian Francs lol
Can't eat a dollar either, but the amount each can buy with inflation is quite a ways away.
Weimar citizens needed a truck full of paper for a loaf of bread.
Folks with gold didn't.
Not so sure it's a 'bubble' I think it's more of a 'scramble' folks and countries looking for safe haven.
When I was a kid, my dad had stacks of 50,000 Reich Mark notes from the Weimar Republic. He said a lot of people had been burning the German money by the wheelbarrow because it was cheaper than wood or coal.
I lived in Turkey in the early '80's, where they also had hyperinflation. One Turkish Lira, once upon a time, was nearly an ounce of fine Silver. When I was there, a 5TL coin was aluminum. And about the size of our nickel. And the exchange rate was 186TL per US dollar. A skilled carpenter there made about 350TL a day.
Not too long before I left, in 1985, the President of the Republic of Turkey got a pay raise. To the equivalent of $1500/month. As a TSgt, I was making $1900 a month. And the Senior Pilot commander of the base was making about $300 a month, and considered wealthy.
I'm sure there's a quote somewhere regarding knowing history, and being doomed..
Maybe, but if you don’t have the gold how are you going to get the eggs and bullets??? As stated in previous posts, you purchase gold with excess cash. At that point, you should have already stacked other needed items. Food, water, ammo, alternative power etc, etc. what are you going to do when your hundred dollar bill won’t purchase a gallon of gas???
