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Old 19.08.2011, 17:13
rcp27 rcp27 is offline
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Re: GOLD - Int'l recognition of swiss gold coins?

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The arguments for many looking to purchase physical gold is that they do not trust "paper" / financial built "vaporware". Should the poop hit the fan you can't just pocket your ETFs, as you need an open stock exchange (did you already forget 9/11?) to sell them and they settle T+3.
I never quite get this kind of argument. If things get so bad that no paper money of any kind is "hard" enough, then you are looking at some kind of Mad Max style apocalypse. In that situation, there are commodities whose value will appreciate much more than gold between now and post-apocolypse. Things that need to be imported from a long way away, things that require a lot of manufacturing effort, things that are really cheap now (due to relative increase in value).

Valued relative to gold, how much does a chain saw and enough petrol to run it for a year cost today? How much will it cost post-apocalypse? How about a cellar-full of canned food? How about a hand saw? How about the cost of learning how to run a European climate subsistence farm against how to train someone how to run a European climate subsistence farm? If you really believe this kind of collapse is likely to happen in your lifetime, these are the investments to be making now, not buying up over-priced gold.
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