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Video: The 3-Minute Case for Owning Gold Coins

Written by Gary North on August 7, 2013

It’s like owning a lifeboat on the Titanic.

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10 thoughts on “Video: The 3-Minute Case for Owning Gold Coins

  1. Rabelrouser says:

    Physical gold and silver holdings are an investment into a future when the "promissary notes" (federal reserve notes) become worthless, that is a given in the post crash senario. That ownership allows the holder to have something of real, tangable value. The problem being that people have gotten so used to having a "trust" in the present fiat currency, and subsequent "electronic currency"; that it really is not considered a threat to collapse. This because they refuse to educate themselves to the truth of this nations false currency, and economy. (Ignorance is Bliss)
    But another form of currency and wealth in the future will be more valuable in the immedency of the coming crash, that being supplies of food, water, hygeine and medical supplies, and cleaning supplies. Those will keep you alive during the begining of the collapse.
    Those who have neither are doomed to either die, or become subjegated to those who had the foresight to prepare. Again, a refusal to become educated to the reality of the present conditions and the root cause of the problem.

  2. ncbill12 says:

    While I love a good conspiracy, please don't ignore the fact that worldwide gold demand is driven by jewelry demand.

    As China & India & other 3rd world countries become richer billions of people will continue to feed their thirst for gold.

    So expect a long-term trend higher, but don't expect a "Titanic" event to make those already holding gold plutocrats overnight.

    Rather, gold is just another form of insurance against inflation and general economic volatility.

  3. The primary argument for owning gold and silver is the primary reason NOT to own gold or silver. I is assumed that they will be the 'currency of last resort' in a complete economic collapse. The problem is that currency has value ONLY as a medium for purchasing what is actually wanted/needed. After a complete economic collapse, people will ONLY give up what they have for something they can actually use, not for something they must trade for something they can use. Gold and silver will be worth their weight in LEAD, because they will serve the same purpose.

  4. Damn, Steve. That was profound! Love, Karla

  5. Rabelrouser says:

    Owning gold and silver serves only as a future wealth factor, after the dust has settled. Commodities become a greater "currency" when used in a barter situation: a roll of toilet paper for a daily meal. Currency becomes that which has wealth in a catastropic / chaotic situation. And remains such untill the dust settles.
    Gold and silver will always, and have always, had intrinsic value. Fiat currency, paper money with no physical backing of real worth, will be the cause of economic collapse; this the phony intent of those who create money from thin air and make it nothing more than a "ledger mark".
    But again, the value of a daily meal will be "worth" something to someone, or an asprin /bandage, or a shovel, or a drink of sanitary water. Value will be based on need, not want. At this point in time, gold and silver only will serve the future in the purchase arena. Planning for both senarios is tantamount to survival.

  6. Blair Franconia, NH says:

    I don't own gold and silver. I can't afford it.

  7. ncbill12 says:

    They're still trading gold dust for bread in collapsed economies like Zimbabwe rather than fighting over it with guns.

    Even in the 'First World' catastrophe doesn't have to come to see one's income, denominated in their country's fiat money, steadily eroded by foolish government policies like 'quantitative easing'.

  8. Nothing has "intrinsic value". All value is subjective. For example, if Robison Crusoe is alone and shipwrecked and the ship itself is sinking and Crusoe has to choose between a chest of tools and a chest of gold and silver it'll be easy to guess which one Crusoe will pick.

  9. Rabelrouser says:

    That is why the basic vegtable seed will be worth more than an ounce of silver in the future. Or a roll of toilet paper will be worth the same amount.
    Gold and Silver only have a value when the distress to come is over and the future starts to have those who will again bring common trade back into the picture.

  10. Rabelrouser says:

    You would be surprised how you can purchase small amounts of "scrap silver" coins for. Yes it will be more than the face value, but it creates that hidden weath that will serve you well in the future. Check out your local coin shop for old dimes , quaters, half dollars. Start buying one or two every pay check and allow them to accumulate.