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Comments about ‘Economic collapse 101: The most important insurance we never buy’

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Published: Tuesday, Oct. 15 2013 9:30 a.m. MDT

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UtahBlueDevil
Durham, NC

Really.... were going to beat this worn out "scare" topic one more time? What is the real value of gold... really? There isn't much you can do with it. You can't eat it. You can't burn it for energy. You can't trade it easily. Can't spend it. Ever since Glenn Beck started hawking one of his sponsors wears, it has been on of the worst performing investment classes.

I really wish the DN didn't run this stuff as front page investing advice. They need to stick to the news... not being a promotional arm of some "investment" firm.

hiker
West Jordan, UT

This guy doesn't seem to know about the free silver debate in the 1800s when not enough gold was being mined and the money supply was declining. As a result, we had a serious deflation and farmers (for one) were going broke as they had to maintain their debt payments but the price of their crops kept falling. We need responsible money growth but putting our money supply in the hands of gold miners is nonsense. As for investing in gold, Google mad max personal finance and scroll down to April 23rd.

Irony Guy
Bountiful, Utah

Bizarre reasoning. He says a silver quarter will always buy a quarter's worth of goods? Is he serious? And if I'm starving, would I swap a loaf of bread for a silver quarter? I can't eat silver. When will these right wingnuts learn that ALL value is relative, that gold/silver are no more magical than any other asset, that they fluctuate in value as do all assets, and that people who stuff their savings into gold never earn any interest. As a result, their gold actually LOSES value over time simply because of the principle of the time value of money.

9MM
Murray, UT

It would appear that from the previous posts that many people are as happy as can be with the inflation of our currency. I would guess that the lessons learned as the world emerged from WWII to maintaining economic stability and growth by holding steady currency values. We must be smarter than them because today we like to print money to pay our nations debt, golly - that has never come around and bit a nation in the butt historically.

kiddsport
Fairview, UT

Let's see, in 1971, an ounce of gold sold for $40 and today sells for around $1400. So $100 worth of gold purchased in 1971 would be worth $3500 today. That's a lot of groceries. If you invested $100 in the stock market in 1971 and it averaged 8% return, it would be worth around $2200. Still a lot of groceries but not as much as the appreciation of gold. Conclusion? Diversify.

one vote
Salt Lake City, UT

Gold is in the tank now that the tea party revolution failed. All of these gold people were claiming gold would be at 3000.

Brahmabull
sandy, ut

UtahBlueDevil

You may have missed the point. Gold and silver are very easily tradeable. Anybody who recognizes the value of them will trade for it. Of course you can't eat it, but last time I checked you can't eay paper money or copper pennies either - so your point is invalid. The article isn't trying to make a prediction on whether it will go up or not, he is stating that you will want to buy some just in case. And a quarter - that was made before 1965 - is %90 silver, which is worth a gallon of gas by weight. So whether you agree or not the math he presented doesn't lie.

The Solution
Dayton, OH

It is true that you cannot eat gold and silver. It is also true that while you can easily trade precious metals right now, you may not be able to in a time of crisis. For that matter, you will not be able to trade anything easily in a time of crisis for food, fuel, and other essentials. However, you will always be able to trade food, fuel, and essentials for anything in that state.

So, invest first in food and fuel storage. Then diversify and invest some of your wealth in things that have intrisic value under regular conditions, such as precious metals and energies. You should still invest in traditional bonds, but not all of your investmenst should lie in one basket.

The most poignant part of this article is in the beginning... our government needs to relearn how to spend within our means. Period.

Charles H
Atlanta, GA

If one is prepared, worry is of little concern. However, if we as a country country continue to spend, or overspend, we will have a great deal to worry about. The price of metals is nothing more than a reflection of the vaue, or lack thereof, in our paper money. It's not brain surgery to understand this, although it seems that Congress is in need of extensive cranial probing and adjustment to so understand. To paraphrase Jeff Foxworthy, maybe a surgeon (the voters) should open up the government's skull, take a stick and root around in there to find out what is wrong. That makes just as much sense as blindly trusting what it (the government) says about our national debt. Bottom line, carry some food, metals, and zero personal debt in your portfolio.

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