Investing in Gold? How much imaginary Gold has been Sold?

[peachykeen]

I'm stocking up on salt- that will be my gold when the SHTF. Seriously though, spices will be worth mucho to people. Gold? Can't eat gold. Would be good to have when things start getting good again, but concentrate on having food to make it to that point.

Hubby and I have seeds to last us years, we got carried away buying seeds online this winter. We are going to build a greenhouse and hopefully be able to grow during the winter. We have chickens, which can forage for themselves fairly well when there isnt snow on the ground. Their eggs would be much needed protein and energy in times of crisis.

Hey-has anyone read about how the U.S sent out **** tons of gold that were actually Tungsten with gold encasing it? Let me try to find the link, quite mind blowing. Tungsten weighs the same as gold almost precisely, and tests of the gold itself would have said it was pure. China drilled into a bar and found the tungsten. Why didnt they make a big deal out of it yet- because I think ppl will freak if they knew that there is a lot of missing gold out there.

 

[rty007]

it is that or they got paid quite a bit to keep their mouth shut.

about the imaginary gold... you have to remember about trading gold stocks which I assume they also take into account, while saying there are 4lbs of gold for every lb gold flying through the market. I mean those sales are mostly online and instant. so it is a huge advantage for people actually not to get that gold in hand, and they can more like bet whether the gold will go up or down.

 

[lupinfarm]

I'd rather put my money into seeds, spices, my land, and my animals...

 

[Wifezilla]

Exactly.

Add weapons and tools to that list and you can't really go wrong.

 

[Mackay]

My father in law purchased gold in the 80's. We inherited some. So far its make over 500 percent.

 

[BoboHobo]

After hearing a discussion on gold investment, the speaker made a point that stuck in my mind. Buying small things with gold won't be practical. I have several 10th oz gold coins that I received as gifts, but even these are going up in value and not something I would like to exchange for a $7 pack of T.P., losing $30-$40 for the exchange.

As someone who does occasionally sell things, I am not confident
that I could accurately test the gold that I might receive.

Silver will be the way to go. A silver dime was worth about $1.33 in silver a few days ago at about $18 per ounce, I think you don't want to be on the paying end though, you will want to be on the receiving end.

There should be nothing you need to purchase, you should be the one that they are buying things from, like eggs, vegetables, firewood and anything else that can be reproduced so you will always have a renewable supply of stuff.

Even if silver goes up to $100 per ounce, that would make silver dime worth about $6, and still usable (two dozen eggs).
Like Sylvie said, a gold coin maybe worth too much to buy small things.