Our currency is backed by oil, I hear some nations are even willing to go to war for oil.
[quote]limitatinfinity wrote:
[quote]Gadrien wrote:
The value of a currency, be it paper, gold, silver, or numbers on a screen, is the trust that it will be worth something when you try to use it next.
The value of a house is either the value at which you’ll be able to sell it, or the benefit you can enjoy by living in it.
If there is a crisis big enough for the US dollar to lose all it’s value, then it means there’s no more trust left to guaranty any type of currency.
Trust me, I won’t trade my food for your silver if the economy is in total ruin.[/quote]
You most definitely will if you can’t consume it all before it rots and need to buy seed and fertilizer to grow the next batch. Or are you gonna risk trying to carry barrels of food to buy anything else you need to live. Coinage replaces barter very quickly after it’s introduced to a community. If you want to live as a subsistence farmer(before your farm fails and you die) then by all means don’t get silver. If you want to survive and thrive you should have silver bullion.[/quote]
Exactly right. If there is any trade at all, silver (or gold, of course) will be a store of value, though it may not be of value in and of itself.
Whiskey, soap, cigs, shampoo, ammo, all those things are good for barter, of course. Silver dimes are more portable, don’t degrade over time, and are universally recognized.
Even if we lived in Bartertown and Tina Turner was our queen, someone would trade with you for silver or gold.
Personal Bankruptcies Soaring:
“While the market cheers on the fantastic job â??growthâ?? of March 2010, the more astute of us are concerned with a growing tide of personal bankruptcies. March 2010 saw 158,000 bankruptcy filings. David Rosenberg of Gluskin-Sheff notes that this is an astounding 6,900 filings per day.”
http://www.marketoracle.co.uk/Article18600.html
“This latest filing is up 19% from March 2009â??s number which occurred at the absolute nadir of the economic decline, when everyone thought the world was ending. Itâ??s also up 35% from last monthâ??s (February 2010) number.”
The Great Depression of the 21st century, spurred on and encouraged by Obama and all the libs and cowards (Dems and a lot of Republicans), is spreading.
Who’s next? Is it you? Will it be me?