If I stored all my wealth in gold (and the US fiat currency became zero) how could I make more money?

Question

Does it take fiat currency of a country (or countries) to make more money? Does the economy come down to production and consumption?...so I would need to produce something to make more money? Can I make more money without producing something and just investing? I want to learn more; thanks for your responses.

Answer 1

idk

Answer 2

Working Finding A Job

Answer 3

Gold has traditionally used as a store of value during times of inflation.  Gold is priced in $US / troy ounce.  The price changes constantly, you can track it online here:

http://www.kitco.com

So suppose you gathered up all your excess fiat currency and bought krugerrands or other bullion coins at your local coin shop for the current price of $893.60 / oz.  Stash them away safe, and as the US dollar inflates into parity with the currency from the Republic of Zimbabwe, the price of gold will rise substantially.  When you choose, or when the government takes it away from you, you can exchange it for the fiat currency of your choice at the going rate.

Grandpa  

Answer 4

invest it in our money the £ its worth lot more then american dollar I think£1 is like a 1.86 ?

Answer 5

i can tell u dont invest in any back's cause they go under

Answer 6

Perhaps it's better to store your wealth in stocks of gold-mining companies.  Then you will have a share of their profits.  And as long as they keep producing more gold.  Then you will be better off.

If the present US currency goes down close to zero.  Then it won't be so difficult for the government to create new currency.  Even Zimbabwe has recently reformed its currency and took off ten zeros.  Ten billion Zimbabwean dollars became one Zimbabwean dollar overnight.

http://timesofindia.indiatimes.com/World...

But it's also possible to acquire wealth through speculation in gold and commodities.  Buy low and sell high is what all successful speculators do, regardless of the currency they use.

It's true that money, including gold is not of much use to anyone if there are no real goods being produced.  Someone has to produce the goods.  Or else there is nothing to trade and exchange.  But as long as there is some kind of trading going on.  Then you can become wealthy by being the middle man.  And you don't actually have to produce anything yourself, except the service of being the middle man.

Answer 7

i think, you can try overnight income investment. it more simple, workable, profitable and no risk investment. actually, your money will work for you, even while you sleep, and you get your first overnight income. your money grow daily.