| John Burns - 11/23/2014 10:59
Edit: oops, I thought I was answering Von. Oh well, it will work for you too cfdr. LOL
(Smiling here too)
Yes, good point - but only if the people in power allow you to hold it during extreme times.
Just remembering my travels through Canada. In the 70s when the CD was about where it has been recently, the merchants were hesitant to take the USD. When the bottom fell out of the CD, however, they readily took my dollars. The last few years it has been similar - when the CD was high. This is just one more of those things that make me wonder if this time it really is different. Last I looked the CD was worth about .89. Since Canada can probably be called a resource economy, why is the CD dropping so fast? Like I said - just one more of those things I wonder about.
So, in extreme times, what might be valuable and what might be a target for confiscation? We've covered gold pretty well - we even have precedent for politicians confiscating it. Farmland - as I've said before, it probably has a real big target on its back. It's probably pretty vulnerable. (This was the case in Rome, from what I've read too) Bonds - you have to think that governments will, in one manner or another, default. Stocks - might drop quite a bit, but from what I've read/heard, retail ownership is not very high, and government will hesitate to confiscate from the wealthy and powerful. But, again - gold - if what I read recently is correct, it isn't even legal to store it in a safe deposit box. The more I think about it, the more I thing that it will be confiscated - just like what happened in the 30s.
Again, just my thoughts, FWIW. (and I do mean FWIW) |
Germany also continues to take back gold.
