Buy gold? A rather scary scenario is predicted...

A lot of people have been buying gold as a protection against the coming economic storm. Is that wise? Here's a comment I found on the Telegraph article below, read it and think about it. Are the predictions made completely unbelievable? How sure are you that it won't come to this?

"It seems likely that gold and silver prices will decouple from the official spot price as this crisis unfolds. Gold is already becoming harder to obtain in small quantities and premium prices are being charged for coins and small quantities of bullion. There is a gradual black market forming in gold which can only accelerate as the pace of economic collapse accelerates. The deflationary cycle that is unfolding can only be usurped by hyperinflation as governments try to print their way out of fiscal armageddon. The entire global financial system is insolvent, has been for dedcades, but the confidence required to sustain fraud on such a huge scale is gone. The system is irretrievably broken.

The danger of private possession of gold and silver is clear. Faced with total state failure, the government will ban ownership of gold and silver. Anyone purchasing precious metals will leave an electronic paper trail. The authorities will come knocking on the doors of anyone suspected of seeking a safe haven in precious metals. They will do whatever is necessary to take that wealth from the people, torture and murder included.

The solution for the state, seeking self preservation, will be the seizure of all asset wealth from the people, savings, pensions, investments, property and of course, gold and silver. No exit mechanism will be tolerated for the people.

We are facing the biggest seizure of private property in human history and the imposition of a totalitarian martial law state as all assets are seized as surety against our respective national debts.

Grim days ahead I'm afraid. Our aspirations for freedom, liberty and independence from state control will be severely tested in the next few years.

Right now, I can't see the general population being capable of resisting the inevitiable destruction of private property rights and the seizure of all wealth by the state. The End Days are upon us."

Not my words (and certainly not my spelling) but could the scenarios described come true?