allan wrote: You’re buying into the notion that gold (or silver) will have intrinsic value if the paper currency collapses. Well, I have news for you. Prior to 1971, the paper currency’s value was tied to existing gold reserves. Do you think that prior to 1971 there were no boom and bust cycles? Or inflationary and deflationary cycles?.Yours are specious arguments and not supported by fact or history.

gold will have value if the paper currency collapses. and yeah, there were cycles, and all kinds of frauds and panics, but gold always came through. there is never a time in any financial history where people went broke holding on to gold.