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<p>[QUOTE=&quot;Smitty, post: 1331939, member: 35044&quot;]Well, they have to be backed by something that&#039;s rare, hard to produce, portable and widely accepted as having value. In my mind, that pretty much narrows it down to gold and silver. But after the initial collapse, they&#039;ll come up with another monetary system backed by something ... gold, a basket of commodities, or who knows what, before eventually going back to fiat currencies and repeating the cycle.</p><p><br /></p><p>I&#039;ve read books on what happened during the Weimar and Argentinian collapses, but what hasn&#039;t happened before is the US dollar, the world&#039;s reserve currency, collapsing.</p><p><br /></p><p>In 2010, total silver mined was one billion ounces. 50%&nbsp; is used for industrial purposes and is mostly unrecoverable. I read somewhere that there is actually less silver above ground than gold.[/QUOTE]</p><p><br /></p>

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