You're right, I was being much too dogmatic. What I meant was...

You're right, I was being much too dogmatic. What I meant was that for me, trading gold would be a much more risky proposition than trading paper assets. The margin of error is just that much smaller. Maybe a much better trader than me could make a living from bullion, but why would they bother when paper is so much easier? Is there anyone out there who can honestly say they reliably make money from bullion? I don't mean a paper profit on that bar you bought 30 years ago, but real honest to goodness cash profits? Well, if there is anyone who does, I take my hat off to you as a superior trader.

As far as the backing of ETFs is concerned, I have no idea. I don't like avoidable counterparty risks, so I tend to avoid ETFs, CFDs and the like, but I think the risk is probably quite small.

Ad far as TEOTWAWKI is concerned, pug, I personally have no great wish to survive it, but if I were inclined to try I would invest in weapons, seeds and other implements of survival, not useless metal bars.