I’m ‘seeing’ a lot of recommendations to buy gold as a hedge against dollar loss. My recommendation: don’t. I have never once thought gold would replace the essentials of life and still don’t, not even in our present market crash.
Food sales are skyrocketing again. I will not accept gold (ever) for anything. Frankly, I don’t know anybody that will, except a gold dealer. Unlike gold or silver or other items of speculative interest (something that you don’t need, but are convinced into believing that you might want), some things are simply irreplaceable and you really can’t do without.
My food sales are unbelievably high right now, I’m working 7 days a week to keep up. All the canneries are running at max capacity trying to keep up. Worldwide unrest and lost faith in the system (it’s about time) have caused a huge spike in sales. What’s more important to you? Gold in a Swiss vault or food in the pantry? Make up your own mind, but don’t fall for the hype. If gold was really the wonderful asset it’s alleged to be, it would cost over $5,000 an ounce by now, but still hovers at less then $1,000 despite the market meltdown. While gold and silver has hopped up and down, food prices have doubled or even tripled in some cases — and stayed there.
In other news, Ran Prieur had an interesting opening paragraph:
October 10. You probably saw the news yesterday about the Chicago Sheriff refusing to evict people. This follow-up story is surprising in two ways, first because it happened so fast: Blackwater Contracted to Evict People in Foreclosed Homes.
And second because it’s satire! But this kind of thing is likely to happen for real as tensions increase between the owners and everyone else. Local enforcers will go easy on people they see as their own tribe, and the higher authorities will want to bring in non-local enforcers. That’s exactly how the Chinese government broke the Tiananmen Square protests.
He’s quite right. Personal indebtedness will still get you kicked out, sooner or later if you don’t pay your bills. I’ve predicted labor camps and work agreements as the government takes further and further control of the financial situation. You can always work for food too.