SlickyBoy said:The dollar may indeed crash from hyperinflation, but no, one should not expect to conducting barter with Krugerrands or any other form of gold for a variety of reasons.
As I stated earlier, I do not expect hyperinflation in the U.S. But, if the U.S. did ever experience hyperinflation, that would be the perfect scenario where people would pay farmers directly for food with silver coins or buy a house with gold. Of course, the farmer or the home seller would eventually convert those PMs into cash when the economy improved.
Let's face it, during a period of hyperinflation, why would anyone who holds hard assets (food, cars, houses, etc.) trade that hard asset for anything else than another hard asset (gold, silver, platinum, gems, jewelry, etc.) when the fiat currency is depreciating on a daily (or even an hourly) basis? You would be foolish to sell hard assets for anything less than another hard asset. In short, there are indeed certain extreme economic scenarios where precious metals may act as a secondary, or even a primary, currency.