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Re: Warren Buffett buys gold 

By: Decomposed in 6TH POPE | Recommend this post (1)
Sat, 15 Aug 20 9:44 PM | 36 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 04849 of 60014
(This msg. is a reply to 04844 by Zimbler0)
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Zimbler0:

Re: “In an 'End of the World As WE Know it' scenario . . . Having guns, ammo, booze, food stocks, land, and the means to produce more food stocks will be a LOT more valuable than gold one can not eat or use to defend ones property.”Very true. But as Decomposed has ALSO advised you, once TEOTWAWKI passes and civilization is restored, those with significant amounts of gold will quickly recover their former status while holders of most other items will not.

Consider the Confederacy. Those Southerners who owned large quantities of beans ate well in 1865 as their world crumbled around them. Those with large quantities of gold but no beans did not. By 1866 or 1867, the situation had changed and those with beans had only mountains of compost material - which had some value but not too much - while those with gold were fabulously wealthy. Of course, those with mountains of Confederacy's dominant currency were flat-out broke. Nothing does worse during and after a currency failure than piles of the currency.

It all boils down to one's situation. DURING a crisis, gold may not be as desirable to an individual who is destitute as food, shelter and transportation. Once the crisis is past, gold may be far more desirable.







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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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The above is a reply to the following message:
Re: Warren Buffett buys gold
By: Zimbler0 in 6TH POPE
Sat, 15 Aug 20 3:20 PM 		Msg. 04844 of 60014

Micro > Will those go up like Gold and also, what do you do with them when you are ready to sell for a nice profit?


Good Question Boss.

But, as Decomposed has advised us . . .
In an 'End of the World As WE Know it' scenario . . .
Having guns, ammo, booze, food stocks, land, and
the means to produce more food stocks will be a
LOT more valuable than gold one can not eat or use
to defend ones property.

Zim.

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