Why do people keep saying buy gold....

[ChIoVnIdCa]

Its at a all time high... If shit really hits the fan no one will be buying physical gold or gold investments.... The cost of guns, food, anti zombie suits, etc will sky rocket...

[Leung]

i'd probably buy a gun too but then again i'm too poor so i'd chop the tree down in the back yard and make wooden spears.

[WiggneedsJDM]

how muuch are anti zombie suits now?

[Ralphie]

Good point dude.

After the Earthquake/Tsunami in Japan, everyone wanted iodine pills....no one their was looking for gold lol!

[stewie]

i remember listening to my buddy ramble on and on about the US's debt crisis, he was saying something about if they didnt raise the limit, they'd have to start selling things, such as gold, silver, stocks in the federal reserve bank...so everyone was wanting to get in on them, cause things like that will only be down for so long before they sky rocket again.

[Ralphie]

Ya and be careful, some of those buy/sell gold shits is a scam.

They will pay you SHIT for your gold.

I sell scrap metal.

I find it HOWEVER i can and i wait till the shit is up....then i go and sell.

Some metals are fucking outrages per ounce.

Shit is lucrative.

[deevergote]

Gold is universally accepted as currency. If the US dollar tanks sharply, you can go to China with a bunch of gold and actually have money.

[ChIoVnIdCa]

Gold is universally accepted as currency. If the US dollar tanks sharply, you can go to China with a bunch of gold and actually have money.

IMO if something happens bad enough for the US to completely fail it will be a world wide thing... Plus before we go down there is no way we wouldn't just start launching nukes at everyone.

[deevergote]

Eh, the US economy is actually in a very dangerous position right now... with China and India emerging as serious economic powers, we are going to be in SERIOUS trouble (especially since China actually holds a good deal of our debt!)

For years, the US was not only a military superpower, but also an economic superpower. We have been living as a very wealthy country as a whole for quite some time. China and India are HUGE, and they're on their way to becoming economic superpowers themselves. Granted, the division between rich and poor in those countries is still pretty significant... but they are growing economically. We are failing.


I wouldn't be surprised if we witness a total collapse of the US economy in our lifetimes. Hopefully we won't panic and take military action... though hopefully we won't become a target and end up occupied and divided by foreign powers.

[19dabeast85]

Deev, I fear you are very correct. The U.S. Economy can't last much longer the way things are currently setup. Most people know this but are too afraid to admit it. I fully believe China will become the world superpower in our lifetime.

U.S. is in bankruptcy, we can no longer even borrow enough money to pay the interest owed to the Federal Reserve for the currency they loan us to use. Funny how that has worked out in favor of the big bankers in charge of the FED......

Gold is not at an all-time high. The U.S. currency is worth CRAP thus it requires more of it to buy gold. Gold is a great investment because it holds worldwide trading value. Silver is an even better value IMO because I believe it's currently under valued. But don't buy large bricks of metals, buy it in coins so it can easily be traded.

[Law Grandeur]

gold never loses its value. it actually increases. certain may skyrocket in price but thats only when its needed. once that need is gone, they return to normal value. gold doesnt. same goes for land (unless it has tons of chemical waste or radiation on it lol)

[CB7H22Los]

like i say..we are living in interesting times...i wouldn't want to think about our grand kids...

[Tnwagn]

I wouldn't be surprised if we witness a total collapse of the US economy in our lifetimes.

Possibly, but I am of the belief that in this day and age there are too many interconnected pieces to the world economic puzzle. In the position the US is in right now, a total economic collapse would cripple not just us, but entire other nations. To protect their own interests, other countries wouldn't let us completely fail.

Take Japan and China for example. Imagine if every person in the US stopped buying automobiles and electronics. I realize there are plenty of other markets for those countries' manufacturers' products, but the US makes up such a huge segment it would absolutely destroy them.

There are plenty of industries like this that are too important to let fail. Take US farming for example. For every $1 a farmer makes over 50c was direct government contribution.

Also, fatalistic viewpoints like "I wouldn't want to be my grandchildren" is a phrase that has been echoing since the beginning of time.

[Leung]

Possibly, but I am of the belief that in this day and age there are too many interconnected pieces to the world economic puzzle. In the position the US is in right now, a total economic collapse would cripple not just us, but entire other nations. To protect their own interests, other countries wouldn't let us completely fail.

Take Japan and China for example. Imagine if every person in the US stopped buying automobiles and electronics. I realize there are plenty of other markets for those countries' manufacturers' products, but the US makes up such a huge segment it would absolutely destroy them.

There are plenty of industries like this that are too important to let fail. Take US farming for example. For every $1 a farmer makes over 50c was direct government contribution.

I was just reading an article before on yahoo and it was talking about the good old days of America coming to an end and China is going with it.

http://news.yahoo.com/americas-good-...155036960.html

[deevergote]

That's why the rise of China and India as such significant powers is frightening. The US in comparison to those two very large, very populated countries is a bit less significant.

It's definitely plausible that the other countries wouldn't want to let us fail... but then again, it could end up being good for them. Right now, we have all sorts of cheap labor being performed in China and India. If we collapse as they rise, guess who gets to make all the cheap shit that the rest of the world buys? Someday, "Made in USA" might be seen the way we currently view "Made in China".

Perhaps not. I doubt we'll end up falling apart and turning into a third world country... but it's entirely possible that we're going to enter a period that will rival the Great Depression.



Edit:
I think that "if we fall, China falls" argument is flawed. If China was strictly depending on us, perhaps... But China is growing from within at an exponential rate. The economic stimulation within their own borders is huge. China is beginning to experience what we experienced during the Industrial Revolution. They're becoming a worldwide economic power. They don't need us specifically.
The great thing about a world economy is that it's impossible for EVERYONE to be poor. When one gets poor, another gets rich. It's like "matter cannot be created nor destroyed". All the money in the world goes SOMEWHERE. In the event of a worldwide economic collapse, things would just be revalued. Old monetary systems would be eliminated, and replaced by new ones.