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Economics & Investing / Re: World faces wave of epic debt defaults, fears central bank veteran
« on: January 22, 2016, 03:09:24 PM »
>>gold
The problem with gold. https://en.wikipedia.org/wiki/Executive_Order_6102
This lasted till 1974!
Gold jewelry was still allowed. My grandfather had two gold frames put around two gold coins that converted them into tie tacks without destroying the coins. By converting them into "jewelry" he hoped to get around the ban and confiscation. He kept the coins/"tie tacks" as a last ditch nest egg for the family just in case the Great Depression got worse.
Gold is probably still a good choice, just don't put all your eggs in one basket. And never, ever, underestimate the coercive power of the government.
The problem with gold. https://en.wikipedia.org/wiki/Executive_Order_6102
This lasted till 1974!
Gold jewelry was still allowed. My grandfather had two gold frames put around two gold coins that converted them into tie tacks without destroying the coins. By converting them into "jewelry" he hoped to get around the ban and confiscation. He kept the coins/"tie tacks" as a last ditch nest egg for the family just in case the Great Depression got worse.
Gold is probably still a good choice, just don't put all your eggs in one basket. And never, ever, underestimate the coercive power of the government.