I guess it beats having your savings in US$!  I find it hard to imagine a 50 cent US dollar.  The nice thing about gold is it takes single currency risk out of the equation. 

One thing that keeps rolling around in the back of my head is China.  If a US meltdown occurs, what effect would it have on them?  They certainly have a healthy export market, but have heard that the majority of their economy is internal.  If that is so, their demand for oil, steel etc will remain strong, which would benefit Canada and the resource sectors in particular.  I recently bought Diana shipping, a dry bulk shipper.  I think there should be good demand for this kind of shipping taking coal and other commodities to China, even if N.America falters.  They have no debt and lots of cash.  I think debt, personal, corporate and national, could really limit options in tough times.