Gold have value if the dollar falls?

[jbrace]

Why will gold have value if the dollar crashes? Gold really has no use besides looking shiny and being hard to find. Is there some other reason why gold will have value that I'm not understanding? Cause it seems like if the dollar not backed by gold then gold really doesn't have a use anymore?

 

[RSLudlum]

Cause it seems like if the dollar not backed by gold then gold really doesn't have a use anymore?

Try telling that to people in India which privately hold about 13,000-15,000 Tons of it!!

 

[jbrace]

Lol, I'm just wondering why it holds value because it doesn't have use say for instance like livestock things to that nature.

 

[literatim]

Gold has been valued since its discovery because of its properties.

 

[RonPaulCentral]

Why will gold have value if the dollar crashes? Gold really has no use besides looking shiny and being hard to find. Is there some other reason why gold will have value that I'm not understanding? Cause it seems like if the dollar not backed by gold then gold really doesn't have a use anymore?

Anything "real" will have value with which to barter in the event of a paper collapse. Everything from Toilet Paper to Salt will be an item to trade. Gold and Silver through history have been an item of barter as a store of value because of the rarity and ease of identification.

Once upon a time "sticks" (called tally sticks) were used in England as money.

It will just be an item to trade and you can bet your ass it will be accepted.

 

[RonPaulVolunteer]

Gold has been money for 6000 years. That ain't changing.

 

[socialize_me]

Gold has a very wide variety of uses. It's used in many appliances, including your car. It's always had value throughout history, it's an incredibly durable and rare metal, but I think the real problem is that people are buying into Platinum. Platinum has only been of value in the past couple centuries even though it is rarer than gold, but platinum is very limited in its industrial use. If you plan on investing in a precious metal, choose Gold/Silver and Copper. You'd be surprised how much different life today would be had we not have copper---no computers, TV's, electronics, cars, refrigerators, even electricity. Copper's properties cannot simply be replicated, so finding an alternative to it isn't feasible. Plus, demand for copper is growing very rapidly in emerging markets like China and India (As well as Steel).

If Gold/Silver can't hold its value in the future when it has millennia of history, what on earth could be a safe investment?? We got a lot more problems if no one wants gold. I think in that situation you'd want salvation.

 

[RonPaulVolunteer]

Silver has FAR more upside potential than gold. I decided a few months ago, not more gold, only silver. Silver is an industrial metal more than gold is. The demand for silver is higher, and the price of silver is currently 66:1 to the price of gold when I check last Thursday. It should be 35:1. It's going to sky-rocket.

 

[RonPaulCentral]

Silver has FAR more upside potential than gold. I decided a few months ago, not more gold, only silver. Silver is an industrial metal more than gold is. The demand for silver is higher, and the price of silver is currently 66:1 to the price of gold when I check last Thursday. It should be 35:1. It's going to sky-rocket.

Silver is the way to go 100%

 

[Micah Dardar]

Gold? Buy a rock? Naa....

If I even had money to buy anything it would be something useful like horses. Gold is just going to burden me down with weight while I migrate to where the food is!

 

[constitutional]

Gold? Buy a rock? Naa....

If I even had money to buy anything it would be something useful like horses. Gold is just going to burden me down with weight while I migrate to where the food is!

You need buy a respectable paperback dictionary and look up the word crazy. You seriously plan on living in a 14th century world, don't you?

You better be the next Paul Revere of the revolution if you think the situation will get that bad. Be ready to shout "The Neocons are coming! The Neocons are coming!" on that horse.

 

[jarofclay]

Gold seems like the best long term position to take. It won't be useful in the United States of the Banana Republic , but after the next currency settles it will be highly valuable.

 

[Ninja Homer]

Why will gold have value if the dollar crashes? Gold really has no use besides looking shiny and being hard to find. Is there some other reason why gold will have value that I'm not understanding? Cause it seems like if the dollar not backed by gold then gold really doesn't have a use anymore?

The only reason anything has value is because people believe it has value. As soon as people believe something is worthless, it is.

People will continue to believe gold has real value for a long time, therefore it will continue to be valuable for a long time.

It really is as simple as that.

 

[RickyJ]

Why will gold have value if the dollar crashes? Gold really has no use besides looking shiny and being hard to find.

Gold will always have value, the dollar won't. The dollar will eventually be worth the paper it is printed on and the ink, and that's it. An ounce of gold however will still buy the same things it use to buy in the same quantity and quality. Gold is not a barbaric relic, it is one of the ultimate forms of money because no man can print more of it.

 

[daviddee]

...

 

[Bman]

Why will gold have value if the dollar crashes? Gold really has no use besides looking shiny and being hard to find. Is there some other reason why gold will have value that I'm not understanding? Cause it seems like if the dollar not backed by gold then gold really doesn't have a use anymore?

You have to understand Ron Paul when he talks about gold. It isn't gold so much as it is items with a value. Now gold works well as an example because it has worked as a currency for the past 6000 years, as another poster commented. Money is used in the action of trade. Now Fiat system money in history has shown a decline in value and ultimately a destruction of the currency. Anything you can trade will have value. Precious metals are just time tested and as such a pretty safe bet for maintaining value in trade.

 

[RonPaulVolunteer]

Yeah, those who say gold and silver are going to be worthless are just darn clueless. I have the luxury of living in Boulder, CO. Today at the farmers market I puled out my Silver Eagle, which I always carry, and it actually got me a date. I started educating the people around me, and they all wanted to touch the 1oz silver coin. Real money has what is known as intrinsic value. Intrinsic value. that is, the item has it's own worth outside of any external influences. It is a rare metal that must be dug out of the ground at much expense. Silver and gold in a depression, if we have one, and Ron Paul seems to thing we will, and he's sorta been right before, will have great value. Some people have questioned my buying of silver on the forum. Well good luck to them. An ounce of silver in a depression will be you a weeks worth of food. Of that I am am sure. In the last depression, shop-keepers put up signs that said: "No cash needed, just bring whatever you have" and they bartered for whatever you had. Trust me, when you and 5 others walk into a produce store, and they have nick knacks, and you have silver eagles, YOU will be the one waling out of that store with food in your hands. Shopkeepers don't want your guitar or your XBox, they want an ounce of real silver.

Bottom line, buy at least 40 ounces of silver ASAP. The price will not stay this low very long.