Another gold question

[DWCAP]

You could always mail it in to those “cash for old jewlrey” places. They buy gold.

In all reality there will always be a market for gold, unless we go mad max, and you will always be able to find someone to buy it for paper currency. Call a few local coin shops and ask what their spread is and how long it would take.

[Arraya]

[quote=jpinpb]Thanks. I was just wondering. I mean, what if the economy gets so bad and the dollar is worthless. Who would pay so much for gold? That’s what I was thinking. Where does one go to sell it and what would dictate how much they’d pay for it.[/quote]

The decent of the decline will dictate this. In some scenarios gold, having no utility value, may not hold up as some gold bugs like to admit. Tools, land and emergency supplies may do better. I have a friend that is collecting bottles of whiskey for trade. In recent history many countries that have experienced currency collapses and the people decided to use gold for trade instead. So it has precedence. IMO, a greatly decreased value of the dollar is a certainty in less than 5 years. I’m thinking more 18 months maybe sooner. We have two curves going in opposite directions. One is our debt, two is our ability to pay it back, eventually something will snap.

[Arraya]

[quote=jpinpb]Thanks. I was just wondering. I mean, what if the economy gets so bad and the dollar is worthless. Who would pay so much for gold? That’s what I was thinking. Where does one go to sell it and what would dictate how much they’d pay for it.[/quote]

The decent of the decline will dictate this. In some scenarios gold, having no utility value, may not hold up as some gold bugs like to admit. Tools, land and emergency supplies may do better. I have a friend that is collecting bottles of whiskey for trade. In recent history many countries that have experienced currency collapses and the people decided to use gold for trade instead. So it has precedence. IMO, a greatly decreased value of the dollar is a certainty in less than 5 years. I’m thinking more 18 months maybe sooner. We have two curves going in opposite directions. One is our debt, two is our ability to pay it back, eventually something will snap.

[Arraya]

[quote=jpinpb]Thanks. I was just wondering. I mean, what if the economy gets so bad and the dollar is worthless. Who would pay so much for gold? That’s what I was thinking. Where does one go to sell it and what would dictate how much they’d pay for it.[/quote]

The decent of the decline will dictate this. In some scenarios gold, having no utility value, may not hold up as some gold bugs like to admit. Tools, land and emergency supplies may do better. I have a friend that is collecting bottles of whiskey for trade. In recent history many countries that have experienced currency collapses and the people decided to use gold for trade instead. So it has precedence. IMO, a greatly decreased value of the dollar is a certainty in less than 5 years. I’m thinking more 18 months maybe sooner. We have two curves going in opposite directions. One is our debt, two is our ability to pay it back, eventually something will snap.

[Arraya]

[quote=jpinpb]Thanks. I was just wondering. I mean, what if the economy gets so bad and the dollar is worthless. Who would pay so much for gold? That’s what I was thinking. Where does one go to sell it and what would dictate how much they’d pay for it.[/quote]

The decent of the decline will dictate this. In some scenarios gold, having no utility value, may not hold up as some gold bugs like to admit. Tools, land and emergency supplies may do better. I have a friend that is collecting bottles of whiskey for trade. In recent history many countries that have experienced currency collapses and the people decided to use gold for trade instead. So it has precedence. IMO, a greatly decreased value of the dollar is a certainty in less than 5 years. I’m thinking more 18 months maybe sooner. We have two curves going in opposite directions. One is our debt, two is our ability to pay it back, eventually something will snap.

[Arraya]

[quote=jpinpb]Thanks. I was just wondering. I mean, what if the economy gets so bad and the dollar is worthless. Who would pay so much for gold? That’s what I was thinking. Where does one go to sell it and what would dictate how much they’d pay for it.[/quote]

The decent of the decline will dictate this. In some scenarios gold, having no utility value, may not hold up as some gold bugs like to admit. Tools, land and emergency supplies may do better. I have a friend that is collecting bottles of whiskey for trade. In recent history many countries that have experienced currency collapses and the people decided to use gold for trade instead. So it has precedence. IMO, a greatly decreased value of the dollar is a certainty in less than 5 years. I’m thinking more 18 months maybe sooner. We have two curves going in opposite directions. One is our debt, two is our ability to pay it back, eventually something will snap.

[jpinpb]

Arraya – Yes, thanks. I am trying to understand this and true that w/facing inflation in the future and depreciating the dollar, we are heading for difficult economic times. I guess I’m just trying to figure out who would have the wherewithall to buy the gold in the future.

As I said, let’s say those who bought years ago or even today see gold increase in value in the future. There still has to be a demand of someone willing to pay over 1k for the gold. And if we experience such difficult economic times, who is going to buy for that price?

I don’t mean to be dense. I’m sure there’s people out there w/money. But if one were to buy gold to hedge against inflation, then I’m not comprehending how that works. It seems to me that people won’t be in the market to buy gold. They’ll be scraping by trying to buy food and gold won’t be a priority.

So if the demand for gold decreases b/c people will be more preoccupied w/buying food, then those who sell gold will have to reduce the price AND maybe won’t be inclined to even buy more gold back.

And say we end up w/new currency – hypothetically Amero – then who sets the price for gold? What will equate to an unknown currency?

All this confuses me.

[jpinpb]

Arraya – Yes, thanks. I am trying to understand this and true that w/facing inflation in the future and depreciating the dollar, we are heading for difficult economic times. I guess I’m just trying to figure out who would have the wherewithall to buy the gold in the future.

As I said, let’s say those who bought years ago or even today see gold increase in value in the future. There still has to be a demand of someone willing to pay over 1k for the gold. And if we experience such difficult economic times, who is going to buy for that price?

I don’t mean to be dense. I’m sure there’s people out there w/money. But if one were to buy gold to hedge against inflation, then I’m not comprehending how that works. It seems to me that people won’t be in the market to buy gold. They’ll be scraping by trying to buy food and gold won’t be a priority.

So if the demand for gold decreases b/c people will be more preoccupied w/buying food, then those who sell gold will have to reduce the price AND maybe won’t be inclined to even buy more gold back.

And say we end up w/new currency – hypothetically Amero – then who sets the price for gold? What will equate to an unknown currency?

All this confuses me.

[jpinpb]

Arraya – Yes, thanks. I am trying to understand this and true that w/facing inflation in the future and depreciating the dollar, we are heading for difficult economic times. I guess I’m just trying to figure out who would have the wherewithall to buy the gold in the future.

As I said, let’s say those who bought years ago or even today see gold increase in value in the future. There still has to be a demand of someone willing to pay over 1k for the gold. And if we experience such difficult economic times, who is going to buy for that price?

I don’t mean to be dense. I’m sure there’s people out there w/money. But if one were to buy gold to hedge against inflation, then I’m not comprehending how that works. It seems to me that people won’t be in the market to buy gold. They’ll be scraping by trying to buy food and gold won’t be a priority.

So if the demand for gold decreases b/c people will be more preoccupied w/buying food, then those who sell gold will have to reduce the price AND maybe won’t be inclined to even buy more gold back.

And say we end up w/new currency – hypothetically Amero – then who sets the price for gold? What will equate to an unknown currency?

All this confuses me.

[jpinpb]

Arraya – Yes, thanks. I am trying to understand this and true that w/facing inflation in the future and depreciating the dollar, we are heading for difficult economic times. I guess I’m just trying to figure out who would have the wherewithall to buy the gold in the future.

As I said, let’s say those who bought years ago or even today see gold increase in value in the future. There still has to be a demand of someone willing to pay over 1k for the gold. And if we experience such difficult economic times, who is going to buy for that price?

I don’t mean to be dense. I’m sure there’s people out there w/money. But if one were to buy gold to hedge against inflation, then I’m not comprehending how that works. It seems to me that people won’t be in the market to buy gold. They’ll be scraping by trying to buy food and gold won’t be a priority.

So if the demand for gold decreases b/c people will be more preoccupied w/buying food, then those who sell gold will have to reduce the price AND maybe won’t be inclined to even buy more gold back.

And say we end up w/new currency – hypothetically Amero – then who sets the price for gold? What will equate to an unknown currency?

All this confuses me.

[jpinpb]

Arraya – Yes, thanks. I am trying to understand this and true that w/facing inflation in the future and depreciating the dollar, we are heading for difficult economic times. I guess I’m just trying to figure out who would have the wherewithall to buy the gold in the future.

As I said, let’s say those who bought years ago or even today see gold increase in value in the future. There still has to be a demand of someone willing to pay over 1k for the gold. And if we experience such difficult economic times, who is going to buy for that price?

I don’t mean to be dense. I’m sure there’s people out there w/money. But if one were to buy gold to hedge against inflation, then I’m not comprehending how that works. It seems to me that people won’t be in the market to buy gold. They’ll be scraping by trying to buy food and gold won’t be a priority.

So if the demand for gold decreases b/c people will be more preoccupied w/buying food, then those who sell gold will have to reduce the price AND maybe won’t be inclined to even buy more gold back.

And say we end up w/new currency – hypothetically Amero – then who sets the price for gold? What will equate to an unknown currency?

All this confuses me.

[luxuryglow]

jpinpb

check this site:

http://www.jsmineset.com/

i learned a lot about gold from Jim Sinclair.

[luxuryglow]

jpinpb

check this site:

http://www.jsmineset.com/

i learned a lot about gold from Jim Sinclair.

[luxuryglow]

jpinpb

check this site:

http://www.jsmineset.com/

i learned a lot about gold from Jim Sinclair.

[luxuryglow]

jpinpb

check this site:

http://www.jsmineset.com/

i learned a lot about gold from Jim Sinclair.

[Author]

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