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I don't really watch it, but I notice when people are freaking out about it. I don't buy either. It's too expensive and really pretty useless to me. I'm not in the electronics business so I have no real need for those metals outside of pretty jewelry (which I don't wear much of anyway).

I kind of wonder what the benefit of having gold will be though if the dollar collapses. You won't be able to sell it for anything. If food is scarce then who is going to want to trade you a loaf of bread for a hunk of gold? What use is gold? That's just what I'm thinking though.

The only problem is that gold is not worth a thing either save for conduction. Gold is just as faith-based as paper money.

You don't understand. Gold has little use in our society. For the US, we have the Federal reserve. They regulate how much money is made in the mints so that such a thing does not happen. Also you seem to be under the assumption that inflation is the worst that could happen to you.

Also: it HAS happened.

what do you think happened in the 20/30's??

Funny you mention that because the great depression was a time of massive deflation. Don't talk about economics if you don't understand what you are talking about.


Gold has about no practical value regardless of how gold-obsessed you are. Gold is just as faith-based as paper. There may be less of it, but there's also less s**t in the world than food, but food is more valuable.


The US federal reserve is heavily controlled by the government and is responsible of the distribution of money, however, production is done by the mint. That is owned by the US government. They are handed to the banks in exchange for worn out bills. The mint is what makes them and if you really want to get into it, the inflation of the 1920's had nothing to do with excess bills. That was caused by an ever increasing value in the stock exchange.

Now are you going to stop lying and admit you are wrong?

From Wikipedias 'Great Depression'

Monetarists, including Milton Friedman and current Federal Reserve System chairman Ben Bernanke, argue that the Great Depression was mainly caused by monetary contraction, the consequence of poor policymaking by the American Federal Reserve System and continued crisis in the banking system.[22][23] In this view, the Federal Reserve, by not acting, allowed the money supply as measured by the M2 to shrink by one-third from 1929–1933, thereby transforming a normal recession into the Great Depression. Friedman argued that the downward turn in the economy, starting with the stock market crash, would have been just another recession.[24] However, the Federal Reserve allowed some large public bank failures – particularly that of the New York Bank of the United States – which produced panic and widespread runs on local banks, and the Federal Reserve sat idly by while banks collapsed. He claimed that, if the Fed had provided emergency lending to these key banks, or simply bought government bonds on the open market to provide liquidity and increase the quantity of money after the key banks fell, all the rest of the banks would not have fallen after the large ones did, and the money supply would not have fallen as far and as fast as it did.[25] With significantly less money to go around, businessmen could not get new loans and could not even get their old loans renewed, forcing many to stop investing. This interpretation blames the Federal Reserve for inaction, especially the New York branch.[26]

One reason why the Federal Reserve did not act to limit the decline of the money supply was regulation. At that time, the amount of credit the Federal Reserve could issue was limited by laws which required 40% gold backing of Federal Reserve Notes issued. By the late 1920s, the Federal Reserve had almost hit the limit of allowable credit that could be backed by the gold in its possession. This credit was in the form of Federal Reserve demand notes. A "promise of gold" is not as good as "gold in the hand", particularly when they only had enough gold to cover 40% of the Federal Reserve Notes outstanding. During the bank panics a portion of those demand notes were redeemed for Federal Reserve gold. Since the Federal Reserve had hit its limit on allowable credit, any reduction in gold in its vaults had to be accompanied by a greater reduction in credit. On April 5, 1933, President Roosevelt signed Executive Order 6102 making the private ownership of gold certificates, coins and bullion illegal, reducing the pressure on Federal Reserve gold.[27]


also some quotes my friend has posted on this topic of monetary value/federal reserve/gold..

"The American people have no idea they are paying the bill. They know someone is stealing their hub caps, but they think it is the greedy businessman who raises prices or the selfish laborer who demands higher wages or the unworthy farmer who demands too much for his crop or the wealthy foreigner who bids up our prices. They do not realize that these groups are also victimized by a monetary system which is constantly eroded in value by and through the Federal Reserve System."
G. Edward Griffin
The Creature from Jekyll Island


Empires rise and fall based on the soundness and integrity of their monetary units and economic system. Never before in history has economic fraud been so severe and pervasive among all the economies of the world as they are right now. Not even in 1929.



"The Constitution prohibits both the states and the federal government from issuing fiat money. This was the deliberate intent of the Founding fathers who had bitter experience with fiat money before and especially during the Revolutionary War. In response to the need to have a precisely defined national monetary unit, Congress adopted the Spanish dollar then currently in use and defined the content of that dollar to be 371.25 grains of pure silver. With the establishment of a federal mint, American silver dollars were issued in accordance with that standard, and gold Eagles also were produced which were then equal in value to ten silver dollars. More importantly, free coinage was established wherein Americans were able to convert their raw silver and gold into national coins officially certified by the government as to their intrinsic value. The product of these measures was a period of sound money and great economic prosperity, a period that would come to an end only when the next generation of Americans forgot to read their history and returned to the use of paper money and "bills of credit"
The monetary plan laid down by the Founding Fathers was the product of collective genius. Nowhere in history can one find so many men in one legislative body who understood the fraud inherent in fiat money and the hidden-taxation nature of inflation. There was never such an assembly of scholars and statesmen determined to set a safe course for the nation of their own creation. Literally, they handed us a TREASURE MAP. All we had to do was follow it to economic security and national prosperity. But, as we have seen, that map was discarded when the lessons of history died out with those who had lived it."
G. Edward griffin
"The Creature from Jekyll Island"

A middle class that constituted less than 5% of the world's population managed to amass over half the worlds wealth in just a few generations.
A phenomenon that is virtually unheard of in human history. Such is the fruit of sound money. And... now that the American people no longer engage in the oversight of the integrity of their economic system their country has fallen apart, their middle class almost completely wiped out. Their wealth having been concentrated into the hands of a tiny few.

great topic, haven't read past this post yet, going to sleep soon.


Here are some others I can think of (included some of yours):
water, water filters, water purification tablets, baby formula, diapers
Fuel - oil, gas, propane, diesel, kerosene, butane, wood, batteries, matches
flash lights, Firearms and Ammunition, shoes, jackets, underwear, socks
vitamins, tools, fishing supplies, candles
your own services/skills like mechanics and maintenance
Vegetable Seeds, produce - potatoes, beans, rice, corn, flour, yeast
Livestock - rabbits/meat, goats/milk, chickens/eggs
Medicines, pain killers/fever reducers, bandages, antiseptics, antibiotics
toiletry items - toilet paper, shampoo, soap, toothpaste/brush, shavers, deodorants, PMS pads/tampons
Salt, coffee, sugar, liquor, Flour, yeast, canned and dried goods