28 Apr '13, 2pm

Gold Could Collapse Just Like Bitcoin Did

All bets are off during the apocalypse. I’m pretty sure those dreams of buying a loaf of bread with your gold coins during Armageddon might not be as easy as you think. A better currency in that situation might be your gun and its ammunition. Or maybe gasoline, since transport will take on premium value if such a disaster were to occur. I guarantee you the zombies will scoff when you try to pawn your gold for anything of real value in such a scenario. When the air comes out of the bubble, the pain will be very real. A near 10% drop in the price of gold in one day is nothing. Bitcoin lost $100 in value in a matter of moments. Gold prices could see the same. Those gold ETFs have disaster written all over them. When the money starts to flow out, there will be nothing to backstop the selling. 10% is nothing to what could happen when gold really starts selling off. What someone...

Full article: http://www.businessinsider.com/three-reasons-gold-is-like...

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