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Germany also continues to take back gold.
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cfdr
Posted 11/22/2014 20:05 (#4194911 - in reply to #4194863)
Subject: RE: Germany also continues to take back gold.


I don't think I'm missing "the larger point." I don't have any argument with you - or John - about why you buy gold. I fully accept that you might *like* to see the price drop, as that allows you to buy your insurance policy cheaper. Gold is a hedge against government, isn't it? Someday it might be very valuable to have - *if* they allow you to keep it. IMHO, that's a very big *if*. Think about what the world will be like if people do lose faith in government - and I mean *really* lose faith. Politicians will do whatever is needed for them to remain in power. They will probably be desperate for money. If what I read about it not being legal to even store gold or cash in safe deposit boxes, what's to stop them from doing what FDR did in the 30s? No, when you hear people say that "there is no safe haven" - that's exactly what they mean - there really is no safe haven. I believe this has happened before - in Rome. Didn't the military go out freelancing when the politicians were not able to pay them? When property was taxed so much that people just walked away from it, maybe it was good to have some gold. But if you were caught trying to buy with it, what do you think would happen to you?

There appears to be no safe haven. You said - "Sort of an insurance policy against having everything stolen away." IMHO, the odds that gold would be "stolen away" would be pretty high if the government gets desperate, especially since they pay the police and military.

But again - looking at the chart - we still have not reached the point (with gold) that we hit the last time we had an inflation scare. And, since most of the currency created has been when credit has been extended, why would you think this time has to be different? Note - I admit that I don't know, but it sure looks like deflation is at least as great a worry right now as inflation.

Just guesses, of course.
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