Still have never figured out what I'm going to do with gold when the Pocky-Clips comes. No stores to spend at. Can't make a good plow out of it. Can't eat it. A pretty and useless metal that has no practical application at the subsistence level.
The idea behind holding some gold is to have currency in a historically recognized medium, post-fiat collapse, provided all semblance of society, civility and trade haven't collapsed with it. Suppose that 5 years from now this charade of nations borrowing monopoly money from each other is finally up. An IMF-like entity takes the reins and all western currencies are folded into a world currency. Suppose 50 USD can be traded in for 1 "world dollar" on the day it goes live. Suppose 1 world dollar buys you a pack of gum. You've lost the vast majority of your purchasing power. But unless someone figures out alchemy between now and then, it stands to reason that gold (if its possession and trade are not endangered - see below) still can't be set at some arbitrary price point because it maintains the characteristics of a sound store of wealth: durable, divisible, irreproducible, etc. An ounce of gold will still trade in for the equivalent of anything ranging from a high-end computer to a couple months of gasoline. Gold maintains some
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Suppose that 5 years from now this charade of nations borrowing monopoly money from each other is finally up. An IMF-like entity takes the reins and all western currencies are folded into a world currency. Suppose 50 USD can be traded in for 1 "world dollar" on the day it goes live.
Then we wouldn't have a problem, would we? We'd still have a technological, industrialized civilization. But it has yet to be proven that this will happen and we both know that praxeology doesn't have proper predictive capability.
Society has gone apocalyptic.Well, yes, that's what's going to happen in the economic collapse, if that occurs. I mean look at the thought process that would occur
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If that is an issue it would be the first time in history.
No one could ever eat gold. No one could ever make a plow out of it.
And yet, people traded lots of food and plows for tiny bits of it.
If your starving alone on an island gold won't help you. But the odds of you being picked up by ET's and dropped somewhere alone is about as likely as you being the sole human survivor of a zombie apocalypse.
As Seanr says, while it's a conceivable scenario, if you're in a situation where you would rather have a couple more rounds of ammo, or a can of beans than an ounce of gold, you planned poorly and have imminent problems. In any sort of life that is remotely worth living, gold is likely to be a very useful and portable store of value. You can't carry all the ammo or food an ounce of gold could buy you, but you likely would like to eat longer than the food you can carry will allow. Or shoot longer than the ammo you can carry would allow. So.. specie.
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Then we wouldn't have a problem, would we? We'd still have a technological, industrialized civilization.
But it has yet to be proven that this will happen and we both know that praxeology doesn't have proper predictive capability.
Society has gone apocalyptic.Well, yes, that's what's going to happen in the economic collapse, if that occurs. I mean look at the thought process that would occur ( ... )
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No one could ever eat gold. No one could ever make a plow out of it.
And yet, people traded lots of food and plows for tiny bits of it.
If your starving alone on an island gold won't help you. But the odds of you being picked up by ET's and dropped somewhere alone is about as likely as you being the sole human survivor of a zombie apocalypse.
As Seanr says, while it's a conceivable scenario, if you're in a situation where you would rather have a couple more rounds of ammo, or a can of beans than an ounce of gold, you planned poorly and have imminent problems. In any sort of life that is remotely worth living, gold is likely to be a very useful and portable store of value. You can't carry all the ammo or food an ounce of gold could buy you, but you likely would like to eat longer than the food you can carry will allow. Or shoot longer than the ammo you can carry would allow. So.. specie.
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