Not a week goes by without someone sending me an email asking my opinion on buying Gold as an investment for the “impending 3rd world like economic collapse in the US” or various other financial scenarios.
I still can’t figure out why I have somehow become this bastion of financial advice on investing that all my friends go to when they are deciding on making some off-the-wall financial move.
I think it is a combination of the fact I have always had a job (a rare trait amongst my buddies), read allot of books (and even rarer trait amongst my buds) and in their minds my being an international contractor means I must be rolling in mountains of coin that I invest in exotic and shady ventures like the international Gorilla Hand Ashtray trade (in reality I blow it all on Booze, Easy Women and Bacon Cheeseburgers).
Generally the tinfoil-hat talk about the U.S. becoming a 3rd world wasteland like Somalia makes me immediately delete said message (anyone who thinks the U.S. could ever turn into a 3rd world like hell-hole has obviously never been to a 3rd world hell-hole) – but one of my buddies sent me the rare rational question about gold as an investment.
The Following is my response, unedited: