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 Replies: 69 / Views: 4,389 |
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Valued Member
United States
188 Posts |
I was in the local shop today at lunch time and a doctor came in. He asked the dealer about bullion and what his prices were. The dealer asked what his purpose was, collecting silver eagles etc. The doctor replied "no", he stated that he was preparing for our currency to be worth nothing and wanted to have adaquate gold and silver on hand. The guy walked out with a full box (500) SAE's and 50 $20 gold pieces. My first thought was wow is this guy parenoid. On my drive back to work it made me wonder, this guy is obviously educated, is he onto something that I don't know about?
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Moderator
 United States
6563 Posts |
There's a fine line between educated, ignorant, paranoid, and prepared  |
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Moderator
 United States
187501 Posts |
Despite having an education, sometimes one moves rapidly across those lines! Yes, I have been guilty of such behaviour in the past! |
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Valued Member
 United States
188 Posts |
I just wish I had a cashiers check for 60,000 + that I could walk into a coin shop with. I know I wouldn't be coming out with Gold/Silver Eagles!!
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Pillar of the Community
United States
1944 Posts |
on talk radio - today. I heard Glen Beck, discussing that the "world economy" should get rid of the "currency" meaning the US dollar. Mr. Becks position that if that happens that would effectively make our money "worthless". there was more to the topic, but that was the basic premise. I don't know if that makes your person "paranoid", cautious, or perhaps gullible.
by the way...Semper Fi.
(USMC 1971 - 1973)
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Pillar of the Community
United States
1840 Posts |
I used to work with a psychiatrist who was a faculty member at Harvard University. He also smoked cigarettes. Go figure...
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Valued Member
United States
245 Posts |
"The doctor replied "no", he stated that he was preparing for our currency to be worth nothing and wanted to have adaquate gold and silver on hand."
Is he planing on taking his scalpel and shaving a piece of Gold off for a loaf of bread?
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Pillar of the Community
United States
3294 Posts |
I would not use a doctor as an accurate gauge for economics, unless you know him personally. As for worthless US currency, that is most unlikely. See the debt that we owe to other nations is in US$, so if our money is worthless, they lose all that. Add to that, all the currencies that based, or rely heavily on the US$, and massive devaluation of the dollar would trigger not a mere US collapse, but essentially a world economic collapse. The middle east and Japan would both take decades to recover. I think he is just being paranoid.
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Pillar of the Community
United States
1944 Posts |
i absolutely agree that the US dollar will never be - worthless, however that was the premise that one radio talk host was discussing. likely or not - he makes for "sensational" talk radio.
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Pillar of the Community
United States
2270 Posts |
Everyone should always keep about 10% of his holdings in something that must maintain its value like gold. In good times you can let it shrink a little and in less good times you should increase it a little.
The exact amount is highly dependent on the risk you face in your other investments and your tolerance to risk. Gold should be considered like life insurance; you really don't want to collect.
Time don't fly, it bounds and leaps.
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Rest in Peace
United States
2668 Posts |
Yeah, I've worked with a number of people over the years whom have fired me. Go figure.  |
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Pillar of the Community
United States
3294 Posts |
I never understood why gold would be valuable in such a situation, because you can not eat gold, and as a luxury item with no practical purpose, I don't think many people would want to trade for something they can't use.
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Pillar of the Community
United States
3294 Posts |
By the way, did he pay cash for all that?
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Pillar of the Community
United States
2270 Posts |
Quote:
I never understood why gold would be valuable in such a situation, because you can not eat gold, and as a luxury item with no practical purpose, I don't think many people would want to trade for something they can't use. In the event of a complete meltdown of the financial system gold would be nearly worthless. But there are many scenarios where gold would retain it's value as most things lost their's. High inflation is the most obvious. Time don't fly, it bounds and leaps.
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Valued Member
United States
306 Posts |
Hope no takes offense as none is intended, but if it's total collapse of our money, gold is not the answer. What medal will have value is lead (especially if it's wrapped in brass).
Just throwing out a thought to ponder. -- Terrell
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Valued Member
United States
245 Posts |
A Doctors services could be bartered for food and such just like the old day's, one baby delivered for a chicken. Maybe he should be buying a book on how to cook a whole pig, or milk a cow. LOL
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Replies: 69 / Views: 4,389 |
Posted 01/30/2009 3:52 pm
