Husband want to convert all savings into gold

[Anonymous]

Anonymous wrote:

Anonymous wrote:If the dollar collapses, what makes him think gold hold value? If the dollar collapses and takes the economy with it to the extent that gold is the only viable store of value, what makes him think that someone who has invested in ammunition (the next step for gold bugs), won't just take his gold.

If the dollar collapses, gold and silver will be the only things that have value, because they’ll be the only thing anyone will take as payment for things you want (e.g., food).

BTC my friend

[Anonymous]

Anonymous wrote:

Anonymous wrote:If the dollar collapses, what makes him think gold hold value? If the dollar collapses and takes the economy with it to the extent that gold is the only viable store of value, what makes him think that someone who has invested in ammunition (the next step for gold bugs), won't just take his gold.

If the dollar collapses, gold and silver will be the only things that have value, because they’ll be the only thing anyone will take as payment for things you want (e.g., food).

cool, but that means society collapses - so 1) bugger problems and 2) good luck using the gold without someone taking it off your hands, there are plenty of people with no gold but lots of guns and bullets

[Anonymous]

sounds like your husband is a bit of a loon.

[Anonymous]

Smart. Dollar will no longer be the main currency. Smart.

[Anonymous]

Putting all your savings into any one thing is big gamble and usually doesn't work out. But it sounds like the husband is not really dealing with this rationally, so practical arguments won't be productive.

Ask him to dig into who is funding this podcast, which he probably didn't have to pay for. Fight crazy conspiracy thinking with more crazy conspiracies.

[Anonymous]

Gold only has value because we say it does. It's just a rock. Like a diamond. There is no inherent value in any of this stuff.

[Anonymous]

Protect your share of the savings. If you can’t talk him out of this, at least you’ll have preserved your nest egg. May need a lawyer consult?

[Anonymous]

Anonymous wrote:Gold only has value because we say it does. It's just a rock. Like a diamond. There is no inherent value in any of this stuff.

Exactly. If I need a place to live, why would I trade it for a piece of rock that humans decided to label valuable? If I need food, I need something with actual value to exchange. You can’t eat gold. You can’t burn gold. You can’t live in gold. God doesn’t cure illness.

[Anonymous]

Anonymous wrote:Gold only has value because we say it does. It's just a rock. Like a diamond. There is no inherent value in any of this stuff.

This is the part that gets me. These types always say the dollar will be worthless because it's fiat currency but never explain why anyone will give a s*** about specific metals in this Mad Max thunderdome they're imagining. "Because it's what fur trappers used!" doesn't really persuade. If the dollar becomes worthless no one is going to be trading gold bars for canned goods. It will be straight barter or theft; plan accordingly.

[Anonymous]

If he is really concerned about the value of the US dollar then the answer is to invest in international stocks and bonds (equities) not gold. Spread the risk by investing in multiple things.

[Anonymous]

Anonymous wrote:They are not printing money, the government is borrowing money that is being put into the economy. The money that is not going back into the economy is all billions of tax breaks for the very very wealthy, they can only spend so much money on goods and services

No, they’re actually printing it.

[Anonymous]

45% of my net worth is in real estate and 45% in equity, the remainder 10% is cash.

[Anonymous]

OP....NO, don't let him do this.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Gold only has value because we say it does. It's just a rock. Like a diamond. There is no inherent value in any of this stuff.

This is the part that gets me. These types always say the dollar will be worthless because it's fiat currency but never explain why anyone will give a s*** about specific metals in this Mad Max thunderdome they're imagining. "Because it's what fur trappers used!" doesn't really persuade. If the dollar becomes worthless no one is going to be trading gold bars for canned goods. It will be straight barter or theft; plan accordingly.

He could go all out fur trapper. Glass beads, tin cooking pots, sewing needles, bolts of calico.

It had only become legal to own bulk gold in the 70s under Nixon. My entire childhood gold was fixed at, if I remember, $35 per ounce. Plus in the 60s they stopped making coins out of pure silver, so people were stashing older coins during the transition.

In the 80s it seemed like end times publishing exploded, plus there was huge inflation and very high interest rates--easily up to 18% My dad was a farmer at the time, also on the local farmer's co-op board, and the co-op itself was paying 18% for awhile. The gold spike then was because of the economy.

Rural areas were hit especially hard because modern family farmers often have to borrow to put in their crop (crop prices were low as well, less money in the bank from the previous harvest). This was the time when the Posse Commitatus movement, the Montana Freeman, other paramilitary groups became active. VCR technology helped them spread their notions in persuasive ways that were not possible before. Not that there had not been pockets of cranks and conspiracy theorists before, but I think they became more established starting around then.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If the dollar collapses, what makes him think gold hold value? If the dollar collapses and takes the economy with it to the extent that gold is the only viable store of value, what makes him think that someone who has invested in ammunition (the next step for gold bugs), won't just take his gold.

If the dollar collapses, gold and silver will be the only things that have value, because they’ll be the only thing anyone will take as payment for things you want (e.g., food).

Nope. There is also the barter system, which is a lot more popular in an ongoing manner -- in the US and around the world -- than trading gold for goods and services.

Develop useful skills.