The Motley Fool Discussion Boards
Social Clubs / Deranged Monkey Criticism
|Subject: Re: Poll: Technical Analysis||Date: 5/15/2013 7:43 PM|
|Author: eurotrash01||Number: 17150 of 19633|
In large part because of my background, I know people (or know people who know people) who survived the horrors of WWII. Some of them were saved because of their small gold holdings. You can trade it easily and quickly. Not food, not water, not ammo, not farmland.
Other relatives of mine, Japanese-Americans, were removed from their homes and locked up for many years during WWII. All their food, water, rifles, ammo and farmland did them no good. California Governor Earl Warren, later the "great" liberal Supreme Court Justice, was supportive of internment.
That was only 70 years ago. In America. Gold does not protect against Armageddon. It protects against selective bouts of human insanity and tyranny. These bouts sadly occur too often in South America, Africa, and many countries in Asia and the Middle East.
The gold-as-safety plan worked out a bit differently in my own family.
While I also have Japanese relatives (in-laws) who suffered in WWII and escaped the firebombings with minutes to spare, I also have a grandfather who was rounded up and placed in 4 US interment camps over the span of the war, the last place being Camp Lincoln in N. Dakota. Unfortunately, because he was a German citizen living in the US at the time, his family's gold & silver (they were literally silversmiths in Hanover back home) ended up frozen as assets and later plundered by the Nazis. The family's land holdings were confiscated and not returned at the war's end. One might say that he'd have been well-warned to keep the gold on his person instead of entrusting it to banks & vaults in a secure location, but who knew that was wise in 1926 when he made his way to US shores? By 1933 that same hypothetical gold ownership would have made him a no good criminal...as well as an out of work architect in the depths of the depression.
For those anticipating a future where we pawn gold bars for food, remember that keeping your gold in a safe deposit box may not help you. When the US government made ownership "illegal" I recall that one could not sneak over to one's local bank and just pull gold out of one's box. Federal marshals would be there to take the stuff and arrest you. http://en.wikipedia.org/wiki/Executive_Order_6102
So anyhow, I just thought I'd +1 the notion that should the sh*t hit the fan, mere ownership of gold bars may not solve one's immediate problems. Things don't unfold in ways that we in the here and now can reasonably predict.
-the other et
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|