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Originally Posted by Slava
I don't want to argue this with you, but just wondering how this goes if you're right. So lets say that things get horrific (I think that is the best description here) and currencies are worthless. Basically the globe faces economic ruin. So from that standpoint (makes no difference how we arrive here, lets just agree that we do somehow). What do you do with the gold/silver that you have accumulated at that point?
I'm just curious as I actually have no idea. I guess it kind of strikes me as a scenario where the guys with the guns and less value for human life come along and run the show for a while, but I really have no idea.
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I guess the theory is if the paper currency is worthless (a la Deutchmark during Weimar), we revert to gold & silver as currency. Or, when the price of silver sky-rockets to $150,000/ounce when the currency devalues, you will be able to pay off your mortgage with a silver coin.