(07-26-2017, 07:25 PM)Kreeper Wrote: They say you should buy gold (physical gold, not paper) and hold it because when the fiat dollar collapses (As every single one has done throughout the ages) we will inevitably go back to a gold standard,(As we have done every single time fiat currency has collapsed.)
When that happens, the people who own gold will see their value increase many fold (This has also been the case throughout history.)
There is one problem with that.
The gov will undoubtedly enact another version of Roosevelt's Executive Order 6102. Enacted in 1933, 6102 outlawed the private ownership of gold and allowed the government to confiscate it. Gold will be useless to private citizens.
I haven't used the gubmint for guidance since the mid-sixties.
I'm in my seventh decade on Earth. I know things.