Invest In Gold? Why even bother if Uncle Sam decides to confiscate it!!

[The_Outlaw]

A judge has ruled that ten rare gold coins worth roughly $80 million now belongs to the U.S. government, not the family that actually possessed them, according to ABC News.
In 2003 Joan Langbord and two other family members opened a safety deposit box that belonged to Langbord’s father, Philadelphia coin dealer Israel Switt, and found the valuable collection. When they asked the Philadelphia Mint to authenticate the find, the coins were apparently seized without compensation and taken to Fort Knox.
The 1933 Saint-Gaudens double eagle is “one of the most sought-after rarities in history,” according to Courthouse News. Originally valued at $20 each, one owned by King Farouk of Egypt reportedly sold for as much as $7.5 million at a Sotheby’s auction in 2002.
The Langbords unsuccessfully sued the government in 2011, alleging that the coins are rightfully theirs, and now they have lost the appeal.
Jacqueline Romero, assistant U.S. attorney in Philadelphia, explained that the coins legally belonged to the government after Franklin Delano Roosevelt ordered citizens to exchange their gold for cash in an effort to keep the banks afloat during the Great Depression. “Those coins were all in a vault and were supposed to be melted,” the assistant attorney asserted.

Judge: Langboard Family’s $80 Million Double Eagle Gold Coins Belong to Government | Franklin Delano Roosevelt | Video | TheBlaze.com

 

[Shoobee]

You cannot eat gold, Outlaw.

If you are going to stockpile anything, start with water, food, fuel, and ammo.

Just like they do on the preppers shows, only not necessarily as extreme.

Then organize your friends into a survival club and go practice shooting and hunting together.

Gold won't do you any good if SHTF.

 

[JohnD13]

Even if there was anything to buy in a post SHTF scenario, nobody will have change for your Kruger Rand coin. I'm more interested in supplies.

 

[Treo]

I've said this before so I'll just repost it here

I used to have a supervisor who was a big Coast to Coast AM fan and he’d take every opportunity he had to warn us all that we had better be stocking up on gold because the economy was going to collapse and only gold would be worth anything.

He used to get so pissed off when I’d ask him (in front of everyone else) “What are you going to do when the economy does collapse and the very first thing the government does is outlaw all gold transactions?” His response invariably was “There will always be a black market and people will always accept gold.” To which I’d ask “so, you’re willing to trust criminals to give you fair value for your gold?’

Long story short it pissed him off every time he opened his mouth.

 

[dhincc]

I asked a coworker that is a gold collector/investor/hoarder why he was buying it. His answer was "when everything goes to *****, gold will be the only thing worth anything".
I asked him, can you SHOOT it, or load your gun with it?
Answer, no.
Can you EAT it?
Answer, no.
Can you wipe your butt with it?
Answer, no.
Then how can it be worth anything, in a post collapse world?
No answer ...

 

[Treo]

Can you wipe your butt with it?

Well, technically.....

 

[mmckee1952]

Well, technically.....

Just don't tell the people you want to trade with what you did with that coin before you give it to them for the food or ammo you want to trade for.

 

[Shoobee]

I don't know anyone who would trade valuable food or ammo or fuel for worthless gold.

Food for ammo sure.

Ammo for fuel sure.

Fuel for food sure.

But gold, silver, platinum and whatever else a greedy society values now would be truly worthless if SHTF.

 

[Shoobee]

The best prepper show was the one about the guy and his family in Phoenix who created a tilapia farm with their backyard swimming pool, which also grew vegies and chickens.

The only thing he did not think of is that there is a huge nuclear reactor just west of Phoenix. And the wind there blows from west to east. So all his best laid plans of mice and men will be useless and he will need to hit the road just like The Road Warrior if SHTF and that reactor went critical, as it surely must eventually, just like they did in Japan, if left unattended.

 

[maybejim]

I've said this before so I'll just repost it here

If the economy does collapse, it really doesn't matter what the government says. The Black Market will predominate and the government would be on it's own. So yeah, gold will still be valuable, government BS will count for nothing, and as others have said, if it completely collapses, other things likely will be more valuable.