Nick Barisheff's comments on gold

[Unobtanium]

DCFusor, you will appreciate Nick's comments about the debt ceiling.

 

[mike]

As Mr Barisheff notes, $10,000 gold doesn't mean we (who hold physical) will be rich; it means our savings won't get obliterated like everyone else.

 

[bushi]

As Mr Barisheff notes, $10,000 gold doesn't mean we (who hold physical) will be rich; it means our savings won't get obliterated like everyone else.

...which, in turn, MIGHT very well make us relatively rich (comparing to "us" today) - people with wiped-out savings, who still need to raise capital for whatever reason, might be hard pressed with selling their real, sometimes income-producing assets, at discounted prices. Quite possible IMHO.

EDIT: that is of course assuming no foul-play by governments and confiscation - in which case, you'd need to stay below the radar with your newly-acquired wealth...

 

[mike]

Good points, bushi. Also, at some point gold could go into a bubble too, after TSHTF and everyone wants to get some.