michael.....I've been following this conversation and threw my 2 cents in at the beginning.....
here's another 2 cents worth.....
my position is that I will respectfully tell "youse guys" that you are too caught up in the "doomsday scenario" and to that extent wasting your time agonizing over the issue.....
why do I say that?
ans: if, in fact, such a happening does occur, EVERYTHING "goes down the drain".......so, don't worry about paper money vs gold or silver....you/we are screwed!!!!
yes, there is always that person who could be dying of thirst in the desert and greedily would rather have a bag of gold than a glass of water....
but, that's the exception....
the question is how to weather the potential storm?
IMO.....there is too much uncertainty trying to predict what will happen....and, even more difficult.....trying to figure out to what extent any down turn or calamity may be detrimental....
I couple the above with the fact that gold and silver are MARKETS in their own right.....soooooo, when dooms day occurs, they will be affected adversely as well....
IMO....you guys worry too much about the government "confiscating" and other such things.....
please remember that the 401ks and it's variations are private sector instruments......
the associated penalties were put in place via lobbying and collusion between the private sector companies and politicians to protect the carriers of the 401s from prematurely losing the associated 12B-1 fees and other misc. associated miscellaneous account charges.....it has nothing to do with "the government".....
long and short....keep your 401s....review them to maximize earning potential and spread out your investments into precious & semi-precious metals along with art works and real estate.
AI
