Primitive's maternal unit is buying gold

[Freeper]

Ex Lurker  (1000+ posts) Click to send private message to this author  Click to add this author to your buddy list  Click to add this author to your Ignore list      Fri Jul-16-10 11:39 PM
Original message
My mom is buying gold
   
$5000, more or less, worth of Dutch guilders. She's a faithful Fox news watcher and I guess all the gold ads have sunk in. In our family it's considered impolite to talk about things like politics, so we don't much. We have a great relationship otherwise, and as far as I'm concerned, she's entitled to her opinions. I just hope she didn't get ripped off completely. She intends to keep them in a safe deposit box at the bank. I didn't have the heart to tell her that if the shit hits the fan bad enough to need the gold, she ain't gonna be getting into that deposit box.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8763021

She should be spending her money on buying you weed and cheetos instead.

Dummies have no clue how economics work. Yes gold prices fall and increase but, gold will never be worthless and if the economy crashes those with gold will rule. Their pot dealers will gladly take gold when the dollar falls.
 

[jukin]

Gold, canned food, and ammo.

[JohnnyReb]

Gold, canned food, and ammo.

If the SHTF, canned food & ammo is a definite yes for me. The gold, not so much.
With the gold, you got to find someone with more food & ammo than they think they need. True, the gold is easily transported in small quantities but when a pound of bacon is worth a pound of gold...I believe I'd rather have the bacon.

 

[DumbAss Tanker]

I'm not a fan of gold for the same reason as Reb, but short of total economic collapse, the DUmmie's mother is never going to be out the money invested, there is nothing wrong with her decision as a maximized-safety play.

If inflation becomes rampant (Which conditions don't yet indicate, though it's certainly a possibility in a year or two due to recovery on one hand or debt monetization on the other, not what I personally think is the main chance either way, but what do I know) she'll look like a genius and the DUmmie will be posting about her being an evil profiteer, I expect.

[dandi]

Gold, canned food, and ammo.

I'm thinking booze too.

Diversification is key.

 

[ReaganForRushmore]

mmmmmmm.....bacon!!!!!!!

[ColonialMarine0431]

My mom is buying gold

Then she's an idiot when it comes to economics. Gold is selling at an all time high. Leave it to a DUmmie relative to not understand ECON 101.

[Vagabond]

GoldLead, canned food, and ammo.

Fixored.....
 

[PatriotGame]

Ex Lurker  (1000+ posts) Click to send private message to this author  Click to add this author to your buddy list  Click to add this author to your Ignore list      Fri Jul-16-10 11:39 PM
Original message
My mom is buying gold

Your mother would be much better off if she kicked your weed smoking and junk food noshing butt out of her home then invest the savings on an annual non-perishable food supply and backup energy and cooking equipment.

She intends to keep them in a safe deposit box at the bank. I didn't have the heart to tell her that if the shit hits the fan bad enough to need the gold, she ain't gonna be getting into that deposit box.

Funny, every safe-deposit box I ever had/have, the 'bank' did not know nor give a shit over what was in it.

Except gasoline - IIRC, the brochure said something as to "please do not store gasoline in your safe-deposit box."

No, I am not kidding either. DUmmy bank, credit union actually, I guess.