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Thread: Precious Metals in B.O Kit
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8 September 2017, 14:47 #16
Stone, I think paper bills will be worth little to nothing, especially $200 worth. There would be no markets to set "spot" prices. It would just be a matter of who needed what the worse. A guy with a bunker full of supply's to last 6 months to a years worth of supplies would probably be willing to trade a case of beans for how much silver or gold he could possibly squeeze out of you.
In reality, though, I'm not talking about a thriving gold and silver market during anarchy, but just carrying a little on you for barter, with the rest stashed.
UW's position, "if you can't eat it, screw it" falls apart when someone does want "currency" for something he may desperately need. Since his premise places no value on metals of any kind, and I see where he's going with that, if he desperately needs some antibiotics, and someone will take silver or gold, and he has a little, then in reality he's getting a hell of a deal. He's getting his meds for something that has absolutely no value to him. UW wins..
FTLast edited by FortTom; 8 September 2017 at 14:53.
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8 September 2017, 15:54 #17
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8 September 2017, 16:25 #18
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8 September 2017, 16:25 #19
I totally agree with you. Anyone that's advanced in age, very young, poor health, medical conditions that require life saving medication, they will quickly pass. You saw it in Houston where people called 911, and no one is coming.
The average American Home has 3 days worth of food, so we're always 9 meals away from chaos. After the 3rd day and your baby doesn't have formula, and your 5 year old is crying because he's hungry, you'll see parents doing whatever, robbing, looting, stealing, killing to feed their own. No one will give a shit about Precious Metals.
If you make it through all that, by all means, I believe in diversifying your portfolio. Investors have been pulling out of US stocks in droves. I'm not pulling all my money out, but I am halting, and putting money in EU and Asian funds.
https://www.cnbc.com/2017/08/25/inve...ince-2004.html
I believe we're looking at high inflation, lots of quantitative easing, and rocketing debt in the very near future. We are in an unsustainable situation and the house of cards is going to crash very soon. Now if for that reason you want to get into PO, I totally agree.
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8 September 2017, 16:33 #20
Peter Schiff is a pretty brilliant dude. I've got his book the Real Crash. Great read.
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8 September 2017, 16:41 #21
[QUOTE=FortTom;155108]" Stone, I think paper bills will be worth little to nothing, especially $200 worth. There would be no markets to set "spot" prices. It would just be a matter of who needed what the worse. A guy with a bunker full of supply's to last 6 months to a years worth of supplies would probably be willing to trade a case of beans for how much silver or gold he could possibly squeeze out of you.
In reality, though, I'm not talking about a thriving gold and silver market during anarchy, but just carrying a little on you for barter, with the rest stashed."
Very possible, as of now paper money is debt based. I was more thinking along the lines of what just happened in Houston where the power at the stores was out and they were only accepting cash. So initially in a bad scenario it may come in handy. If it ends up worthless whether you have it in your pocket or in a bank really wont matter at that point. Remember silver and gold ARE money and have been for the last 6000 years. A lot of people seem to have forgotten that. Firearms, ammo ,food, shelter will be the basics and in that order.
@UW Yeah Im a fan of Schiff as well. My friend is a big stock market guy and I asked him the other day if he thought a serious correction was coming and he just shook his head yes. 40% or more in my estimation. Good time to shift your money to a safer haven. Silver at $18 an ounce is a bargain it was even better a year and a half ago when it bottomed out at $13.80. Watch the price and buy ON THE DIPS. TPTB are suppressing the price of silver to keep the dollar alive and in the mean time they are buying it by the truck load. Oldest story in the books, suppress the price of something and buy it all up then raise the price by 10X and open your doors for business. Once you have your other preps in place and the bills are paid, that's a good time to look at PM's. PM's are a long term play only. Buy it and put it away for a rainy day. "If you don't hold it you don't own it" That means that ALWAYS, ALWAYS, ALWAYS, take physical possession of the metals you bye. If anyone wants some leads on what and where to buy just shoot me a PM.Last edited by Stone; 8 September 2017 at 18:19.
The best way to survive a violent encounter is to be the one inflicting the most violence.
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8 September 2017, 20:47 #22
I would argue that once Taco Bell and McDonalds runs out of food, people who have absolutely no concept of prepping at all, will use lead to attempt to rob folks over a couple of Slim Jims, much less gold or silver. Hell, how long did it take for people in Houston to start looting?
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8 September 2017, 22:30 #23
I don't see why gold or silver would retain much value if things got bad since it isn't particularly useful in your direct survival.
A thought... gasoline
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9 September 2017, 16:44 #24
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9 September 2017, 18:29 #25
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9 September 2017, 21:32 #26
As far as your limited carrying capacity, this thread began with a few ounces of gold or silver. A one ounce round of gold is about the size of a quarter, a silver round, a little bigger. No one mentioned standard 25lb. bars, or big sacks of the stuff, so really don't know how to respond to your carrying capacity, but you could probably hide them under the insoles of your boots, if your pack is that maxed out.
You don't know if bartering is going to be high on your list or not, until things settle down. If you have a loved one injured, and are running out of antibiotics and you hear I have a lot of Cipro, and come to me to "barter", and don't have anything I need or want, and I didn't exactly feel charitable, I'd probably just smile, thank you for the offer of food or water or whatever, and part ways. If you have something that might put me ahead of the game financially, when the smoke cleared, a little silver or gold may go a long way towards giving you some life saving Cipro.
Some said yes, some said no. I guess we can put you in the "no" category....
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11 September 2017, 12:24 #27
Gold and silver has retained "value" as a barter item for many many MANY years. No reason to think otherwise. I'm not putting all my eggs in one basket though
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11 September 2017, 13:00 #28
I agree, especially for an "economic meltdown". But really, this thread started with just packing a few ounces for barter. As usual, most forum threads devolve into something different than they started from, into a should I invest in PM's or should I just own a few ounces as a back up currency. Right now I'm feeling sick as one forum member pointed me to sources that point out that a couple of mints have been delisted from the Comex, and I own some of that silver. Later this evening, I'm going to have to start sorting out what's what, determine how much of it I have, and if I might have a problem selling it down the road. Uggghhh!
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11 September 2017, 14:12 #29
Stone gives good advise. If you invest in PM's make sure you physically have it in your hands.
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11 September 2017, 14:59 #30