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Re: Warren Buffett buys gold

By: micro in 6TH POPE | Recommend this post (0)
Sun, 16 Aug 20 12:57 AM | 25 view(s)
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Msg. 04877 of 60014
(This msg. is a reply to 04849 by Decomposed)

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De

I am thinking PHYSICAL GOLD in HAND, either in coins or bars.

Actually I like coins best...




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The above is a reply to the following message:
Re: Warren Buffett buys gold
By: Decomposed
in 6TH POPE
Sat, 15 Aug 20 9:44 PM
Msg. 04849 of 60014

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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