Steve B wrote:
After being mentioned in many other posts here, I would like to talk about
gold a bit.

I have a friend. He is a certified financial planner, and my advisor. He
is a high school graduating classmate of my wife. He has the longest
running unsyndicated talk show in the United States, being on the air longer
than Rush Limbaugh. He is soon to syndicate if he has not done so by now.
The man knows his stuff.

We were visiting him, and the discussion of gold came up. He said people
would use it as a hedge, but he pointed out its impracticalities.

First, there's the ever present practice of fraud. Just like Josh, the deaf
mute in San Francisco who would take a nickel and coat it with gold, and get
five dollars worth of goods, there would be potential for fraud. And every
transaction would have to test the gold.

That is why you only use it to buy a different currency not direct goods
unless there is no other currency.


How would one receive change from a purchase?

Not hard if you have a set price for gold. You just break it down to the
smallest practical amount. At current pricing you could get to dime
sized ok. Smaller would be difficult.


The places that dealt in gold, or took gold as a medium of exchange would
have to set up heavy security, adding cost to an already bloated financial
situation.

Most of them already have a LOT of security

People who went to these places for purchases would be marked as having gold
and subject to hijacking.

Just the same as pickpockets and frauds are today. No different than if
you use any other currency form. There will always be someone who wants
to steal what someone else has.


If society ever got that bad, a person having gold would have to become a
recluse, or just bunker in, and defend his pile with weaponry.

You can't eat gold.

You can't eat most forms of currency that have been used over the years.
That is due to wanting a durable currency.


Some of Al's thoughts. I thought he would say what a great way to go.

Steve




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Steve W.