Ask an expert: Is US headed for fiscal abyss?
MSN Money's Anthony Mirhaydari answers Facebook users' questions about the nation's debt crunch.
As he answers questions from MSN Money's Facebook community, Mirhaydari also discusses investments that do well in a debt hole environment, such as gold and other inflation hedges.
Yeah, gold is always nice to have.
But what we need is the kind of gold that produces items all people need or use. Gold put away in big vaults is worth nothing or close to nothing, however gold spent to acquire factories, or roads, or refineries, or fish nurseries, or alternative energy sources, or desilinizing water plants, or any other human endeavor that will need humans to put them in action are excellent uses for gold. Any other uses that involve keeping gold or hoarding gold, including hedging or speculation are totally useless and unproductive. Those of you with the tons of unused gold, to me, are like those miserables who destroyed a spring of water in the desert.
If you put your gold to produce work, food, and many other things the country needs, your gold will produce untold and unseen riches and a wealth never seen by any other country before. If you don't use your gold now, then China will take over like a kid does take a cookie from a cookie jar...
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