Have a client whose son talked him into investing heavy in gold several years ago....against my advice. Value is $25K less than he invested, not to mention the growth he could have had all this time in a simple no-risk tax-deferred annuity. Let me know how well Safeway takes gold dust for groceries in the days to come.
If the market crashes like you predict, many of my clients' adult children will have to pay for their own cars, boats and homes instead of draining their parents IRA's and cash holdings as they have been doing for years instead of working for it themselves. Spoiled generation. Might do them good to have the parent ATM shut down for a while.