Quote:
Originally Posted by clickyclick
Haven't u heard the news lately, why Washington Mutals et al losing deposit which the FIDC force them to be sold to another bank? Investor are flee banks and putting their money in T-bill (treasury security), because the FIDC only guarantee up to $250K per account. Beside, history have already taught us currency can go worthless and it can take a long time for it to recover.
Gold will be stable as long as there is terrorism unfortunately and gold was use as a way of exchanging monetary funds even before currency exist.
|
Who has lost deposits yet?
FDIC is not up to 250k per account.
Multiple accounts at separate banks etc. are doable.
Yes currency can go down, inflation can make the costs of good go way up.
Gold still is not stable, never really has been stable - hence price fluctuations.
Would have to check on that whole gold was used as a way of exchanging monetary funds before currency existed- I seriously doubt that and you may want to look up the word currency and how it came to be. If anything that would of been spices.
Assuming currency becomes worthless, you would be hedging that you can use gold to buy what you need i.e. use it as your currency.
For long term security, gold is already at record highs and unless you really think it will go higher without falling at all. That too is something that has passed its prime and should of probably been bought a year or more ago. Even then being fully into gold would be very high risk.
As a final note- when shit hit fan big time for many. They placed their funds into odd shit like super rare stamps for long term security and hiding such assets.