During the Far East Asia Currency Crisis of 1997, the value of Indonesia’s rupiah currency fell more than issues of other nations. Indonesian citizens whose wealth was denominated in the rupiah fiat (paper) currency became destitute. Indonesians who held a sufficient part of their wealth in physical gold and silver saw their standard of living largely unaffected.
I have heard numerous stories how the ownership of physical gold and silver has not only supported a standard of living, but literally saved