“I agree that PMs will not be useful during a meltdown but will be useful in preserving wealth at the time of the eventual recovery just as it has been for centuries of human history.”
Maybe it’s just me, but I’m not sure what the advantage of wealth will be in a post-apocalyptic world – or that there can even be a recovery from an apocalypse. The reserve currency of the world isn’t gold. It is paper. It’s not even OUR paper. It belongs to the Federal Reserve which isn’t part of the Federal Government. It’s a private bank. It owns us – we don’t own it. We don’t own anything. We don’t even own our homes. We rent them from the government.
There will be plenty of paper for 9 billion people until the trees are gone, but not enough food or water – or gold. There certainly isn’t enough gold to circulate as currency. Therefore, there isn’t enough to back a currency. And so no government can allow it to circulate as a currency. Any country which attempts to go on a gold standard, like Libya and Iraq, are destroyed and their gold reserves seized by whatever pretext. Because the fiat dollar must be protected or the Ponzi collapses.
When that paper goes, every country in the world goes with it. That was never the case before in all of history. Countries rise and fall, but not all of them at once. Every country owes more debt than it can ever pay off. There won’t be a ‘currency reset’. There will be a global nuclear bankruptcy. No country has the money to pay its debts, but 48 countries have the ability to simply vaporize them.
I don’t think there will be a recovery insomuch as a terrible new reality with 7 billion less people.
In fact, no country can possibly declare a gold-based currency. Everyone in the world would buy up their currency, trade it in, and smuggle out the gold to sell on the black market. The country would collapse in days.
US can never revert to a gold standard, not only for that reason, but because the US doesn’t have any gold reserves left. It’s all been sold. Our manufacturing infrastructure? It’s been exported.
Every nuclear plant in the US is operating on an emergency permit and is functioning years past it’s design life. None of them can be repaired – they must be de-commissioned – and there is nothing viable to replace them.
One good solar flare like the Carrington event will destroy us. One 2.3 megaton nuke exploding 400km over Kansas will knock out every vehicle, power grid and electronic device in the US and parts of Canada and Mexico. No trains or trucks or ships; no nothing. And none of it can be repaired.
In fact, I don’t believe the US has any semblance of a functional society left, and I doubt that whatever is left will band together to do anything at all – except act out violence upon each other. The only people who will be safe are people who brew beer.
Hey, have a good weekend and don’t worry – be happy! Hillary will probably win and nuke Iran