"When The Dollar Fails"

We should all be prepared for any possibility.

Gold and silver are UNIVERSAL forms of payment. They are better than mastercard, because they truly are 'accepted everywhere.'

I have a nice low mileage Z06 Corvette. In a Mad Max scenario this car would definitely outrun all of those bad guys roaming and scavenging. Would I sell it for gold or silver? Absolutely.

I agree, Piffin. Events like this are so obvious in hindsight but at the time take on the appearance of slow-motion train wrecks.

I don't believe that the US dollar will fail but that it will be devalued, either voluntarily by the US government or involuntarily by the world markets. It could lose its world reserve currency status and be replaced by a basket of other currencies. A basket currency would be more stable and less prone to being devalued. For lack of a better example, the G8 countries plus a couple of others could be included in the basket. One advantage to this is that it prevents any one country from unlimited currency printing. While such a limitation might be hard in the short term on countries that do print lots of currency, it would be a stabilizing influence on world markets in the longer term.

I am not happy about having a devalued US dollar, not by any means. I can recognize the possibility, though, and take whatever steps seem prudent to protect myself and my family from the worst of whatever financial problems result.

...and then Roosevelt confiscated their gold

I laughed yesterday when I heard a NY mint RADIO commercial, and they say, and I am para phrasing here from memory...."Act now as an entire new case of American un-circulated gold coins form the US was just found in Germany, dates 1866 through 1933."

The gal on the commercial went on to say...."In 1933 after the depression, many turned to gold instead of the dollar to such a great limit, that the president of the time (Roosevelt) passed an act to confiscate every one's gold. Call now and order your FREE CD and brochure and get some of these coins while they last, first come first serve basis"

I figured this is just a big market ploy to sell some gold the NY mint already had, for a ridiculous high premium, any thoughts?

OP is missing that a failure of the dollar so gold is $10,000 an ounce also means $20 a gallon gas, etc. There will be no shortage of buyers because everyone will have stacks of $100 bills.

First, you neded to understand what it means to say "dollar fails".

A currency fails if people no longer are willing to accept it in exchange for goods or services. In US history, a couple examples were "not worth a" Continental currency and Confederate notes. It would take a bucketful of either to buy simple things like bread, meats, or animals.

The FRN has already failed, since it now takes about 50 times as many to buy what one would have bought 50 years ago. Most people would only realize how worthless FRNs are if they saw a faster and more visible failure, like prices doubling or tripling in a year.

The point of holding PM is that an ounce of gold will buy as much "stuff" years down the road as it does today. It is also a good idea to have "stuff", like food, clothing and bullets, except for one catch: shelf life.

Check your beans, or even your water, and it has an expiration date. A cellar full of food is only good until it's not fit to eat. PM has no expiration date, and can still be traded after clothing deteriorates, even from sitting in a closet.

We found them over on the shelf where we put them last week.

Dibs on the 33s. Wonder how many gold coin make a new case, and how many used to be in the old case? And how exactly do they "form the US".




is the NY Mint? Philadelphia after a heckuva bender? These places don't "already have" anything. They either buy for a promo like this, or buy as needed. You can bet you're right on the big premium.