gold, page-97394

Gold is an un-correlated traditional safe haven in times of crisis. It is easy to store and transport, and may serve you well if governments go bellyup. Ask anyone who has been a refugee, fleeing danger and tryanny -"What would you rather carry? Your local gvernment issued currency, USD, AMEX card, a device with internet access to access your bitcoin wallet". Once it would be USD and often still is. Second choice is inevitably gold in small readily divisible quantities such as PAMPF, including certification of authenticity and composition.

I lived in Africa for a while and the unofficial rate for USD to the local currency at the Forex counter at the airport in UK was 3x better than the official rate. The country completely replaced all its currency with a new currency and the only way to convert was to go to a bank, whence you had to disclose how you cam to be in possession of the cash.

That country has since disappeared.

THe Francophone countries in Africa had local currency (CFA) converted at fixed rate to the French Franc. This served everyone well as far as I could see. Not sure what they do in the age of Euro.

So, how do you feel about gold now?