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"if the situation becomes so bad that government-issued money is worthless" For a real-world example of this, look at Venezuela now. Its inflation was recently
by mrb 8y ago
"if the situation becomes so bad that government-issued money is worthless"
For a real-world example of this, look at Venezuela now. Its inflation was recently estimated at 1,300,000%.
And what do people want? Yes you guessed right: food, groceries, medicine. They are selling gold to afford these necessities. https://www.miamiherald.com/news/nation-world/world/americas/venezuela/article222199935.html https://www.miamiherald.com/news/nation-world/world/americas...
- jerguismi 8y ago> They are selling gold to afford these necessities. They are probably using anything that there is available as a currency replacement. I would bet that mostly physical USD, but also gold, bitcoin, cigarettes etc. I don't think gold is the main replacement when national currency starts hyperinflating, just a tool among others.