Thinking about history lately. The history of coins, gold & silver bars and treasure hoards found where ancient civilizations disappeared. Coins and precious metals hidden inside a wall or buried somewhere in the desert. Neither the precious metals nor the jewels could stop whatever happened to the people from happening. The safety net didn't help one bit. In fact, it was left behind neatly tucked away for us to discover. I wonder if investors and collectors amassing piles of these artifacts today are just creating new hoards for the future to find as they wonder what happened to us.
Im always thinking that way!, I just watched a show on history about a huge hoard found in england somewhere(?) Pounds of gold and silver were found.....It just adds to the mystery of how someone amassed that much! Think im going to invest in a metal detector and search some old farmland myself!
QFT. I like PM, and was one of those weirdos advocating them to others when they were flat for a decade or longer. To many, though, it seems like if they hug a gold coin they can magically protect themselves from bad things. Gold cannot stop barbarians from appearing over the hill any more than it can stop Washington from spending our grandchildren's salaries today or stop terrorist from blowing innocents up. PM is a great tool against mild to severe inflation, but will not help during stagflation, deflation, or your government being broke so your schools go to heck. Many ancient Romans had large stockpiles of gold, but that didn't help when their empire collapsed and they were plunged into the dark ages and most knowledge was lost. Interesting thought, I think them too. I hope more PM bugs, though they are correct to want to include PM in their portfolio, realize how it will not help them with the large macro issues in their lives.
