As I understand it, it's intended more as a hedge against inflation. There are scenarios where value stored in dollars or pounds becomes virtually worthless, but value stored in gold or silver holds. The reason being, the government can't print more gold as easily as it can print paper money.

I think to make a difference the amount you'd stockpile would have to be quite large - at least 10s of thousands of dollars, rather than 100 dollars here or there.

Whether hyperinflation counts as a "survival scenario" in the terms of this forum is another matter. At this level of collapse there's the economy is still working, just not very well.

Yep, ergo I suspect cash will remain king for a little while longer, until retail is imploded and supply dries up, then you'll see it swing hard the other way.

The brokers I've spoken with recently used the term "waterfall" with regard to the $$. They are surprised the dollar index is staying above 80.

If another currency replaces the dollar in international trade, stand by for rough times. That's when precious metals such as gold, silver & platinum are a better place to be.

I tend to think that we still have to adjust core lifestyle and expectations downward. I don't think we're going to ever return to 2007

I agree. I think our standard of living has peaked and will probably diminish for the next 50 years. I told my daughters that they better be prepared for less. From hereon in, I expect to take a pay cut with every new assignment until I retire.

Gold or silver is used to preserve value, such as in the case of a currency collapse. There were times in the 1970s for example, when people used "junk siver" to purchase things. If you have a roll of 1960 quarters or Morgan Dollars, or any U.S. coins made before he started to stick copper in the middle, you have somethinglike 90% silver. Silver has uses, but people alo simply like to have silver as something beuatiful and valueable. People can count on the desire for such things. The ancient Athenians rose to power, in part, based on silver mines. King Solomon is known for his mines, as a source for much of his wealth. Wealth is value or aving valueables. Precious metals have represented wealth for millenia, and that is not likely to change.