Zimbabwe: Gold For Bread

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.'s picture
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Zimbabwe: Gold For Bread

The wrath of a wreckless monetary policy has ruined the currency of this once prosperous nation.  Hyperinflation has destroyed the currency and it is no longer accepted in the village shown in this video report.  People are desperate and have resorted to trading gold for bread.  It cost .10 of a gram of gold for a loaf of bread.  Is this what the US currency could be headed for?

 

 

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Cloudfire
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Re: Zimbabwe: Gold For Bread

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Ken C's picture
Ken C
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Joined: Feb 13 2009
Posts: 753
Re: Zimbabwe: Gold For Bread

 

 

Worker Bee,

 

I saw this also and I posted a link to it in a thread that I started about mining.

http://www.peakprosperity.com/forum/mining-gold-versus-buying-gold-until...

Part of the point that I was trying to make is that it is still possible in the US to make a little "real" money by mining your own gold and supplement your income. In fact, during the 1930s many people did just that and were able to get 1 to 2 pennyweight of gold per day (20 pennywieght= 1 oz troy) in order to get bread and beans for the family. If they had not had that then they really would have starved. Using the business end of a number 2 shovel for 10 hours per day is extremely hard work but for many it was the only option available.

The fear I have is that with the possible change in the law regarding placer mining this option will be closed to us. When TSHTF I would like to know that if we really needed to we could take a shovel, bucket and gold pan out to find a little gold to buy the things that we need.

 

Ken

 

 

.'s picture
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Re: Zimbabwe: Gold For Bread

Hi Kenc,

When I was in Juno, Alaska I did some panning for gold.  I was able within a few short hours to recover some flakes.  It's a good thing I love the outdoors because it was cold water and a cloudy day.  I can see from my very limited experience that it would be possible to recover a respectable amount (at today's prices) to make it worth while.  With the physical condition of most Americans I don't see this as an option for many.  You've got to love the outdoors and have a great spirit of adventure as well as some luck to do any good (and don't forget your pistol!). 

As far as the video we both posted, that is a truly desperate situation those people are living.  What will become of them?  I hope the situation here in the US never becomes that dire, but the wreckless monetary policy our government is pursuing makes me wonder if we will suffer the same fate.

paranoid's picture
paranoid
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Re: Zimbabwe: Gold For Bread

Zim is rich in gold so many people there could have access to it....

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Ken C
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Re: Zimbabwe: Gold For Bread
Worker Bee wrote:

Hi Kenc,

When I was in Juno, Alaska I did some panning for gold.  I was able within a few short hours to recover some flakes.  It's a good thing I love the outdoors because it was cold water and a cloudy day.  I can see from my very limited experience that it would be possible to recover a respectable amount (at today's prices) to make it worth while.  With the physical condition of most Americans I don't see this as an option for many.  You've got to love the outdoors and have a great spirit of adventure as well as some luck to do any good (and don't forget your pistol!). 

As far as the video we both posted, that is a truly desperate situation those people are living.  What will become of them?  I hope the situation here in the US never becomes that dire, but the wreckless monetary policy our government is pursuing makes me wonder if we will suffer the same fate.

 

I agree that I hope it never comes to us having to do what the Zimbabweans are doing. However, if TSHTF it might be a life saver if we could go out and pan for a little gold without having to do a Notice of Intent, Plan of Operations, Post a Reclamation Bond and get the District Rangers Approval before we turned one shovel of dirt.

 We are regulating ourselves out of existence.

 

Ken

 

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