I’m Hoarding Gold

Source: Dilbert

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  1. VennData commented on Sep 21

    That’s why you need guns, ammo, target practice, and lots more ammo.

    Ammo is they key.

    And you don’t allocate those weapons cost to your gold stash. Guns and ammo are just a normal cost of doing business as a heroin kingpin.

  2. bigsteve commented on Sep 21

    This brings to mind what my boyhood neighbour living across the street told me. She was a WWII war bride from Germany. Her father had been a doctor. She related how wealthy families disappeared into the country side close to the end of the war to trade the family jewellery, gold and silver for food stuff. If the world ever did completely go to anarchy , shelter, food, clothes, medicine or things to get those would have much more trade value than gold.

    • b_thunder commented on Sep 21

      In recent months China, Russia, and Saudi Arabia sold hundreds of billions of dollars worth of reserves.
      What’s common thing among all three sales? What’s the asset that they sold?
      All three sold US Treasuries, Bunds, and other “paper.” There’s been not single report of gold sales. And I bet if there were sales, journos like Jason “Gold is Pet Rock” Zweig would scream about it (and blogs like this one would amplify the effect.)

      Yes, in an “end of the world” scenario “shelter, food, clothes, medicine or things to get those would have much more trade value than gold.” But between now and then, whether you need Saudi oil or Chinese made iPhone, gold will not only be an acceptable exchange, it will be preferential to “paper”, be it US, German, or Japanese.

    • Iamthe50percent commented on Sep 21

      It kills the romance to hoard Spam and BeanieWeenies instead of gold, but, as you say, much more practical.

    • intlacct commented on Sep 22

      But it’s not enough to have gold – you have to have guns as Venn Data says. ;)

  3. ERISANation commented on Sep 22

    News outlets report that the bartering economy is picking up steam in Greece, e.g., a butcher trades meat for tires. One cannot eat gold, at least not a lot of it, although it is gluten-free and low in carbs.

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