It is often stated that gold is money, gold is the only real money etc etc.
Sure I have a few krugs (but not a huge amount) I've accumulated over the years, and I trade gold futs, but I have a few questions regarding this "gold is money" thing, as lots of people are buying physical gold in case the sky falls down.
If I have a 1oz krug, and the whole monetary system has collapsed, how do I go to the supermarket and pay for a loaf of bread, six sausages, a pint of milk and a six-pack of p!ss with it?
That thing is worth 100 times what the bill is. How do I get my change? How is the value of the goods determined, relative to gold?
If the sky does not fall down, I cannot see that physical gold and PMs as a good "investment", only a good trading instrument in a functioning financial system.
It does not pay a dividend and can only deliver either a capital profit or loss.
The spread/commission is fraking horrendous for retail punters.
It has to be safely stored. In an apocalyptic scenario, the marauding hoards are going to smash their way in and hold a knife to your first born's neck unless you tell them where the gold is (they WILL find out if you have any).
If gold is confiscated, there is a danger that only the face value of any denominated coinage is redeemed. (which is vastly less than the market price of the gold).
In an apocolyptic scenario, surely something more divisible would be a better currency.