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<p>[QUOTE=&quot;passantgardant, post: 1144917, member: 30033&quot;]Gold backing, even partially, inhibits the central bank&#039;s ability to print it without limit.&nbsp; E.g. we just learned that the Fed printed over $3 trillion in 2008.&nbsp; The benefit is no more bubble/crash cycles, a government forced to live within its means, the ability to plan more than a few years ahead, to make contracts and purchases with timespans over a decade, to save for retirement, etc.</p><p><br /></p><p><br /></p><p><br /></p><p>You can currently deposit and withdraw gold out of any bank in China.&nbsp; I&#039;m not sure about banks in India, but I know gold is used in trade in India as well.&nbsp; So right there is like half the world&#039;s population.&nbsp; But direct exchange of gold itself isn&#039;t even necessary if the currency is merely backed by gold, like it was prior to 1933, and partially prior to 1971 here in the U.S.&nbsp; You didn&#039;t need to actually trade in physical gold because the paper currency was a &quot;warehouse receipt&quot; for gold held in the Treasury.</p><p>&nbsp;</p><p><br /></p><p><br /></p><p>I merely responded to your posts.&nbsp; If you meant to imply something else, you should have said so.&nbsp; I have no idea about your personal situation, I&#039;m not talking about you, I&#039;m talking about the need to prepare in general.&nbsp; You argued against it and I responded.</p><p><br /></p><p>Here&#039;s some data compiled about worldwide deathtolls:</p><p><a href="http://donsnotes.com/hist/disasters-war.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://donsnotes.com/hist/disasters-war.html" rel="nofollow">http://donsnotes.com/hist/disasters-war.html</a></p><p><br /></p><p>By all means, do some more research on your own.&nbsp; Obviously, tens of thousands just died in Japan, among the most advanced and well-prepared societies on the planet.&nbsp; And the death toll may climb substantially depending on what happens with the nuclear meltdown.</p><p><br /></p><p>One of the important things to note is that 100+ year events have, by definition, not happened in recent history, so don&#039;t only look back 20-30 years and expect to have counted all your risks.&nbsp; Hyperinflations, genocides, massive storms, civil wars, magnitude-9 earthquakes (like in Japan), etc., only happen very rarely.&nbsp; But when they do, people mostly die due to normalcy bias.&nbsp; They just aren&#039;t prepared.&nbsp; Doesn&#039;t matter if you&#039;re a poor peasant in Africa or the owner of a penthouse in NYC.&nbsp; Everyone is just as vulnerable to these kinds of risks.[/QUOTE]</p><p><br /></p>

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