Quote:
Originally Posted by TheDoc
Nice, but most people don't have physical gold... being that you do, I have a question. If the economy's around the globe fail; who, what and how would you exchange your gold?
Gold has value because people are buying GLD like mad.. making the demand go up, when the supply is solid. If banks or reserves aren't exchanging gold, because they have nothing to exchange it with (a eco issue) - how does it have value?
|
Yes, currencies come and go. Owning gold is like storing your wealth. If the dollar becomes worthless and the world wide financial system implodes, they will come up with a new system. Then you can exchange your gold for whatever the new currency is.
300 oz of gold would have bought you a nice house 1000 years ago, it will buy you a nice house today, and it will buy you a nice house 1000 years from now.