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Author Topic: The U.S. Mint  (Read 4142 times)

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Offline ggreg

The U.S. Mint
« Reply #5 on: July 11, 2012, 05:00:43 AM »
Quote from: TKGS
All money is worth what it is because people will accept it in exchange for things of actual value.

Paper money has no intrinsic value which is why it's buying power fluctuates due to so many different factors.  Modern coinage is essentially the same.  The value of the metals in modern coins, even the penny (in the U.S.) does not even come close to approaching the stated value of the coins themselves.

Frankly, it does not matter if you hold your money as paper money, coin, or bank balance sheets.  The value thereof will fluctuate according to a great many factors beyond your control.

As for gold, it is not even money in modern economies, for its "value", as we have seen over the past few years, fluctuates wildly as well.  Its use in our economic system is more like stocks with the exception that it cannot go completely bankrupt and be worth nothing.  Gold is simply no longer money--this can be proved by taking a gold bar to any retail store in the world and trying to buy goods with it--it has to be converted to the local legal tender (usually something easy to do) before you can buy anything.  



You have not travelled much. In third world countries you can still pay people in gold.
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Offline ggreg

The U.S. Mint
« Reply #6 on: July 11, 2012, 05:05:28 AM »
Quote from: sedetrad
Quote
At this point, I think hording toilet paper and cigarettes may be more profitable than hording gold.


Wiser words have never been spoken.


Here are some wiser words. The greatest value will be adapting to the new economic reality. Learn the new fishing skills.

Toilet paper and cigs will run out and when they do there goes your income.
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Offline sedetrad

The U.S. Mint
« Reply #7 on: July 11, 2012, 08:49:24 AM »
Quote
Learn the new fishing skills.


I think that would be implied in any mad max scenario. I don't expect to be alive if TSHTF. I live on the coast of North Carolina and I could very easily see it being washed away. In any black swan scenario or chastisement, the people that survive are either lucky or God wanted them to.
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