This is part 11 of the Mom and Dad Normal learn about money series
“Abe,” said Sue, “Let’s see if you can figure this out. It’s about our generation. You and me. First, can the U S Government stop the Dollar from taking a big fall?”
Abe was ready. He’d studied all about this on the Internet. He was a YouTube aficionado. “They can postpone it,” he said. “By continuing to raise the debt ceiling, and continuing to bully and threaten the oil-producing nations. They can threaten to bomb any country that makes plans to sell its oil in any denomination other than U S Dollars, as they did with Iraq and Iran. They can threaten any country that tries to open up the oil market to competitive forces, as they did with Syria. But the world is losing patience with that, and although the Dollar’s collapse can be postponed, it can’t be averted.”
Dad listened closely. “So the question isn’t If, it’s When,” he inserted.
“Yes,” answered Sue. “The question is When. Our response to it depends on how old we are. Young people, for example, who may not have much savings in U S Dollars, can be satisfied to be sure their future savings are in physical gold coins. Of course, you have to have possession of these gold coins. And you have to keep them safe, because Pirates could steal them and you couldn’t get them back. I wouldn’t put them in a safety deposit box at a bank, though. Who knows when the Pirates might grab that whole Bank thing and shake it until it vomits. It’s a bit of a dilemma.”
Mom popped out of her coma to ask, “And older people? What can the Baby Boomers do?”
“Older people can move their savings into gold, if they have any savings,” Sue offered. “But that brings us to the question of HOW this collapse might happen. If the collapse is a gradual decline in the value of the dollar, over a long time period, with the basic infrastructure of society locked in place, then gold is the answer. Gold will retain its value, or become more valuable, as the dollar declines. In small doses, an individual family can sell it to live. But if the collapse comes on suddenly, gold won’t be the currency of value. Nails, food, water, bullets, fencing, and electricity will be the items of value.”
“Oh, you mean like the Zombie Apocalypse?” said Abe.
“Right,” said Sue, preparing to go out on a date. She was tiring of teaching these old people things. “If there’s a shutdown in services, if there’s a breakoff of the food distribution system, if there’s a problem with the electric grid, then people will need the basics of life more than they will need gold. Gold can’t feed you if you’re isolated and alone. The only thing to do is arrange your life so that you have a sustainable society, a community like in colonial times, where one person knew how to shoe horses, and another person knew how to raise pigs.”
“That’s messed up,” said Abe. He was beginning to get the shakes from being away from his video games for too long.
“I don’t know, Abe,” suggested Dad. “Maybe since you don’t have a good job, you could take the lead in getting our family ready to live sustainably.”
“No. No way. I’m busy. I have to update my Facebook page,” Abe answered.
“We’re not convinced, dear,” said Mom Normal to her daughter, Sue. “ We don’t believe it. We can’t believe it. It would be too hard.”
“It would be very hard,” said Sue. “I can see you need further convincing before you would embark on a path that would change your lives.
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