You may have noticed that the price of gold has risen since our beloved Gordon Brown sold our gold reserves because urgently needed more money to give away to his potential voters. The price is now stratospheric and going upwards. Its not just the Greeks bearing gifts but also the need for more gold bangles in India and the fact that people round the world have lost faith in their own governments abilities to actually run their finances. So this is the situation. Everybody is buying gold bars or Kruger rands to bury in their back gardens in case of a total financial collapse.
If such an event were to occur, how would hoarding gold help the average citizen- or even the quite wealthy ones? Old Git remembers that just after the last war people exchanged all sorts of expensive possessions for basic needs such a food or clothing or heating materials. A Gold bar might have bought you a few eggs or a bunch of carrots.
Farmers would become the major holders of gold reserves. Basically it might become pretty useless stuff. If you are really worried about a total collapse of world economies you might be better off stocking up with tinned food
