“Assume that even in this depressed economy, you can afford to blindly stockpile gold like many other people are doing. But have you considered realistically what the end game is for gold itself?
When the economy crashes what happens to your gold?
But this is what you’ve prepared for, and tied up thousands of your hard-earned dollars to buy gold. When the hard crash hits, the proverbial rubber meets the road.
If you find a store which still has food on the shelves, how will you use gold to buy food and perhaps even water? Bring a hacksaw with you to saw off a piece? Have you considered why any merchant will take gold? What will he do with it? He won’t take it because he can’t do anything with it than you can. Even a pawn shop won’t take an item they cannot sell or has no demand. This is a universal rule of buying and selling. Do you expect a grocery store owner to re-package your gold, put a price tag on it and sit it on the shelf beside a loaf of bread? People will steal the bread, and leave the gold behind when the crash happens.”
Read the whole piece here: The other side of gold no one talks about