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Germany also continues to take back gold.
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Von WC Ohio
Posted 11/23/2014 07:52 (#4195514 - in reply to #4194967)
Subject: RE: Missing the Point

w1891 - 11/22/2014 21:31 If the dollar goes away, you still need a fiat currency to trade in because no one will do business in gold bars or even coins.



Hypothetical situation

Lets say you have steaks to sell and people are starving to death.

Your saying you will refuse precious metals or a bottle of booze, or some other tangible item as payment because they can't first convert it to some worthless piece of paper so you can determine what it's value is first ? 

The whole point is to have something outside of worthless fiat currency to trade in whether it's seashells, tally sticks, booze, smokes,bullets, skills or whatever 2 people can agree on. The ounce of gold/silver just makes for a convenient "unit" that most folks can easily comprehend and understand. 

It's not really about "investing" and worrying what the fiat price of a metal is at any particular instant in time. It's about insurance and having options when things fall apart.

It's not even entirely about being able to trade or convert in a crisis.  It's about being able to "transport" savings or value from a failed system to whatever follows this mess when it crashes. Maybe that is tomorrow , next week, next year or 100 years from now.

Maybe I'm wrong but I'm not pushing a newsletter or fund here I'm only trying to discuss and make people think. Everyone is free to discount these words as hokum and do whatever they think is best. I'm only a farmer but I've read and studied history and human nature NEVER changes.

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