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The fear of economic collapse is a conservative political trait. I'm not saying some liberals don't prepare for it or think it possible, but in general it's a conservative view point. The same of a hyperinflationary crisis, and as such gold is marketed to this group. The result:
Roubini: 'Extreme Conservatives' Hurting Gold - Yahoo! Finance

In general this man who gained fame calling the 2008 crisis in our "great recession" is now saying we're fine, it's all good, and Gold is going to plummet.
 

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Valid point he makes about gold being an investment that does not pay any interest or dividends.

You have to sell your principal stake in order to get a return on your investment. Do it right, and make money. But it is a static purchase - dead capital while you hold on to it.
 

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The thing with gold is that you never really increase your wealth. An ounce of gold always has the same value. You might get more dollars than you paid but if you look at what inflation has done to the money then you don't make anything.
 

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But you have to consider what savings accounts are paying.
I noticed my bank's rate for a passbook account is 0.50 %. Yep, 1/2 percent.
Even the 5 year CDs are only paying ~3.5-4%. Consider real inflation is at least 6-7%, and probably much higher, truth be told.
Remember they changed how inflation is measured back in the '90s, so their figures are way off even before you start figuring the real rate.
At least when you sell your PMs, you can break even. This is in "normal" times.
All this being said, obviously PMs should never be your first preps.
 

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I have invested in skills and tools. As long as I am living I have greater capacity with each investment through various trade crafts and skill sets to put food on the table under nearly any economic condition.
 
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