Silver and Gold: Isn't it money? If it is....why aren't we using it as money? Good Question?

[BatusaiJack]

i would use up my bullion coin collection in my retirement or when a collapse happens.

[Dasdfjkl]

Would you buy this coin for 5 dollars? 'No' What if I told you that this coin was worth 20 dollars. Then would you buy it for 5 dollars? "No' How come? 'I only have four dollars and fifty cents'

[stuff123995]

I feel that a major problem with using silver or gold as money today is that the government would need control over the precious metals market to prevent dramatic fluctuations in the price of the metal. Not only would I not like that, but it would ruin the dollar value that so many people have invested in say an oz. of silver. After all, we can't mint 90% dimes or quarters if silver is still $36 an oz.

[WhyMeWhySilver]

@jefferyratcliff79 Just because something has a great value doesn't necessarily mean that it's value would continue to be if there were to be a collapse. People are even convinced now that copper will be a metal to barter with if a collapse occurred.Not me, there's simply an abundant supply of copper above and under the ground. The retail markets are making a killing off of these people that think that way. If that comes to be true. I'll just jerk some copper wiring out of my walls if I need to.

[WhyMeWhySilver]

@jefferyratcliff79 Hi jeff....I'm not savvy when it comes to platinum or palladium. Yes silver is also an industrial metal but lets not compare it to any of the other metals ok. I think that we could certainly do without platinum to the greatest extent. Not silver.....even though it's a cheaper metal.......which do you think is the most important or most vital? Which can we do without? Platinum of course. As for platinum dropping in an economic collapse....I think I agree. Continued---->

[TalonNL999]

Using gold as payments in small increments doesn't pay off, because of the crazy premiums on 1gram bars. And silver, silver is way too undervalued, I have a job that supports me and allows me to stack more silver, once the comex and lbma go bust and silver has skyrocketed, then I will start spending silver. : )

[WhyMeWhySilver]

@TalonNL999 Why not make it work for you now? Instead of waiting.

[TalonNL999]

@WhyMeWhySilver People are still accepting my Euro's, and like in Germany, most of the dutch don't see the economic collapse that's ahead, they still think we're on our way to recovery..

in reply to your long comment: True, we don't really know what things will be worth then, for that reason I have also stored decks of cards, tobacco and whiskey, still expanding on that as well. : )

[WhyMeWhySilver]

@TalonNL999 I have a few bottles of Gentleman Jack put back myself :>)

[Anothercoilgun]

I hope you are stocked on more that silver. All your metals collecting is about to pay off in a few weeks, maybe, unfortunately.

[drac060]

Silver is up 127.9% from this date last year and gold is up 35.5% from this date last year.

[VotePaineJefferson]

Good question: The US Constitution says ONLY gold and silver can be legal tender.

The ruling elite have, over time, swindled the American people out of their real wealth in order to easier manipulate and control the working class. The problem with using silver as currency today (at least for me) is that I don't want paper for change. So I'll continue to hoard my silver until we're using at least GOLD again as legal tender.

[goldenthroat86]

@VotePaineJefferson Not quite. "The congress shall have power to coin money; regulate the value thereof ..." It says nothing about only gold and silver being legal tender. You are confusing this with "No STATE shall coin money..." or "...make anything but gold and silver coin a tender in payment of debts..." Individual states can't coin money, but they can use gold and silver coin as payment of debts. The US used paper money (along with gold and silver) since its earliest days.

[spacebrdcst]

Dude u saw that police car and didn't stop at the Stop Sign??? lol

12:34

[IdigHistoryVideo]

I been asking that. Why isn't anyone using silver or gold as money RIGHT now.

[clearasvodka]

WE THE PEOPLE may not be using it as money. But you better believe the banking elite are using it as money. Central banks and governments are buying more and more of it. They let the public use paper and NEVER allow you to trade it in for metals. Because it is REAL. The real stuff. They way they see it - the elite should only hold it. Don't believe me? Look at the new laws coming into effect to limit precious metals buying and selling. Nuff said.....

[sizzlot]

Good vid. I've sold silver when I had an emergency come up, but under normal circumstances I wouldn't sell. I feel like Jesse James when I can rob a place of their silver by sticking a wad of FRNs in their face. It's like armed robbery without the gun... ;-)

[Metals999]

Silver is only like any other investment - you hold it so you can trade it for things of use. You cant eat silver, silver can't keep you warm and you cant live in your silver. You need to trade your silver to get those things you need.

[thaboomer53]

I would imagine that in many private business deals, that many people would take silver as payment. For me, I'm holding what I have, and waiting for the price to rise. Timing is everything. I know it can go down, but I know the fundamentals. There will be a time to sell, but it's not now. I prefer to sit on it.

[Plum369]

I would like to recommend to you a book, "Rich Dad's Conspiracy of the Rich: The 8 New Rules of Money" by Robert Kiyosaki. Also " Guide to Investing in Gold & Silver" by Michael Maloney. I have rread them both and they both put out some interesting ideas. Thanks for the channel you have helped me out more than you know when it comes to getting silver.

[JASPERMESSINGABOUT]

Gee Guy, Can we spend our paper first?......we dont want to dip in the silver pot yet................

[WhyMeWhySilver]

@JASPERMESSINGABOUT No No JASPER.....LOL....I'll be doing another video tomorrow on this topic. I think this is going to be exciting for many of us. Don't come to a conclusion that I'm implying that we sell off our physicals. Absolutely Not! Later guys it's bedtime for me. See you guys as early as possible tomorrow.

[veritasfiles]

(10) I would simply add this word of advice and caution. However you use your Silver, always maintain a sizeable core position (you decide the amount), and grow it by some amount every single year. Beyond that, use your discretionary Silver however you want. Great vid & great discussion!!!

[WhyMeWhySilver]

@veritasfiles You are exactly right! I too think this is a long needed discussion that has needed to have taken place. So many that have posted on this topic are so close to what I see even though they may not see it yet. There's nothing that's been posted here today that actually surprises me. Not at all. I at first was ready to be blasted for even making this a topic of discussion simply because there seems to have been this silent code of ethics when it comes to silver of NOT FOR SALE! Contin

[WhyMeWhySilver]

@veritasfiles It seems to have been this sacred metal that we just don't/shouldn't sell. I wish I had the intellect and vocabulary to explain myself further in words. But hey, I think this topic can be a beginning to further understanding what the two metals can and will do for us. Learning how to use these metals is and will be brand new to us all. I'm going to have to do another video, hoping that I can bring others to understanding me a little more. We're ALL on the same page here tonite. con

[WhyMeWhySilver]

@veritasfiles What I want to discuss is something that is NOT for everyone, but and then again, parts of what I want to explain is. But it CAN be for everyone at a certain point and time if you/me continue to do what we're doing in the metals. Heck...it may take me another 2 or 3 videos. But I have recently seen things that I've never been able to see before when it comes to realizing just how important this one particular metal (silver) can be too our being successful against the dollar. Cont..

[WhyMeWhySilver]

@veritasfiles Have I got this all figured out? No! I need some help from others that can help me get these things out correctly to be understood.There's SO much more that needs discussing. I'll make a 2nd attempt tomorrow in video to try to further explain myself. It's so clear to me in my head.....but it's difficult for me to paint this picture that's so easily seen through my eyes. I'm excited in looking forward to another video tomorrow. Now I'm going to try to rest and try again tomorrow. GN

[MrYouKnowWho1975]

@WhyMeWhySilver mike, about your lawn mower buy. i almost puke at the thought of parting with my metals right now. but you said it right to all your subscribers, you had a perfect example as to why we hold metals positions. i hope that people will understand the main point you were getting at because it was spot on.

[veritasfiles]

(9) Well, the reason not to is that you’re doing well in the near-term and it’s the long-term scenario that represents the real threat to your life and lifestyle. Having said all of that, if someone with a large amount of Silver wants to begin using portions of his/her silver for current day purchases, not out of necessity but just preference, hey, it’s their wealth to use poorly or wisely. And it is their right to do whatever they’d like with the wealth that they have preserved. ... CONT'D

[veritasfiles]

(8) If you have that, then you have no need to worry about the further preservation of additional purchasing power whatsoever. However, I understand the impulse. You see that you can get more out of what you purchase with Silver than you can using dollars that are slowly but steadily losing their value, and you wonder, why not take advantage of the fact that I can gain right now? ... CONT'D

[veritasfiles]

(7) The amount of money you’ll have paid out for the 2nd car is all wasted money you could have kept, had you waited until change was necessary, not merely possible. There is NO REASON to begin actively using Silver as money, unless you simply have enough Silver to guarantee the kind of wealth preservation you’d need to take yourself from today until your death with no need of additional income. ... CONT'D

[veritasfiles]

(6) No, we aren’t wasting the purchasing power of Silver. In my view, we are wasting its purchasing power if we are using it before it has become necessary, not merely possible, for us to draw on the purchasing power it has so nicely preserved for us. It’s somewhat analogous to buying a new car and then purchasing another new car after 2 years, when you could have gotten another 5 or 6 years of driving life out of the original new car you purchased. … CONT’D

[veritasfiles]

(5) Have we reached the point where it has become necessary, not merely possible, but necessary for us to draw on the finite purchasing power we’ve managed to accumulate in Silver in order to maintain some semblance of a life & lifestyle? You asked, “Aren’t we wasting the benefits of the purchasing power of Silver right now if we’re not using it as money right now? What are we waiting on? If you want Silver to be money, act like it!” Here’s my answer… CONT’D

[veritasfiles]

(4) So if the primary reason we are purchasing Silver is to preserve purchasing power and we know that the dollar’s long-term destination is something between 3rd world currency status (i.e. inflation to hyperinflation) and absolute death or the abandonment of the currency for some national, regional, or global alternative; then we have to ask ourselves a very important question. ARE WE THERE YET???

[veritasfiles]

(3) What is the core reason that we purchase Silver or any other precious metal? For the most part, it is to preserve purchasing power because we know that the long-term health of the dollar is “terminal”. Is there also a desire for sound money that plays a role in why we buy Silver? Sure there is, but that’s a secondary or tertiary issue in my view… CONT’D

[veritasfiles]

(2) The average American doesn’t have 500 to 5,000 ounces of Silver in various kinds of government and privately minted coins & bars. Most Americans, even Silver savers, have relatively small amounts of Silver, and they certainly don’t have enough to sustain them for a long period of protracted economic stagnation and/or decline. But let’s ask as more important question. … CONT’D

[veritasfiles]

(1) I’m glad you brought this up as a point of discussion because I think a lot of people haven’t thought this issue through very well. For some, those with very large amounts of Silver, I think using Silver as money “TODAY” is going to look a lot more attractive. But this isn’t necessarily true for the average American. Let me try to explain my thinking… CONT’D

[Silverstack3r]

I sold a some of my silver and gold to help pay for my wife to go to nursing school. I have had ZERO regret over that... to me selling my PM's for a worth while purchase or investment like education is great. The way I see it is my wife got a cheap education based on the return I got from my silver and gold investment.

[WhyMeWhySilver]

@Silverstack3r I just love hearing stories like yours silverstacker! This is what it's all about. Hedging! You protected your income from inflation and was able to gain from it. And there's more out there to work with when other important things come about. We should never be ashamed or should I say embarrassed to say that we sold silver when it actually HELPED us. There's no Secret Silver Code of Ethics out there! I don't know how we all got off the wrong foot as YOU SHOULD NEVER SELL! Wrong!!!

[Silverstack3r]

@WhyMeWhySilver I couldn't agree with you more my friend. As much as I love silver there is more to life than the size of my stack haha. The whole point of stacking is to preserve and even increase our purchasing power so that one day guess what we go out and PURCHASE something with it! :) Your spreading a good message here, keep up the good work.

[nuggetslamdunk]

Just started using silver saver a few weeks ago. Great website! They should make SilverSaver debit cards! That would be a nice way to spend silver

[WhyMeWhySilver]

@nuggetslamdunk nugget if you check your inbox friend invites you'll notice where I had sent you a friend invite. if you accept, you won't need an approval to post. Hey a debit would be great. I think we're fortunate to even have them even though it's not what we'd like it to be at the time being. I can see that happening in the future with SS or some other program that might be offered. SS has put me closer to the type of financial institution that we have ALL been looking for. It will happen.

[JOConnor100]

The only time silver should be spent is if you do not have FRNs to spend.

[WhyMeWhySilver]

@JOConnor100 I have to disagree with you there JO. I wish it were easy to explain but it's not. This is what we should be doing in my opinion. If not....every paper dollar that you spend has escaped an opportunity. It's like we should become our own banks using metals as the base transaction. We'd be smarter if the fiat we spend had actually come through the earnings of silver. If we can run every dollar possible through a silver transaction......you can beat inflation.

[Metals999]

I see WalMart. The scene of your crime Mike? I think you nearly got arrested there one time !

[WhyMeWhySilver]

@Metals999 I sure did lol

[Anothercoilgun]

Did I see Commi*Mart in the background?

[WhyMeWhySilver]

@Anothercoilgun I'm afraid so gun. That's the only thing we have around here. As where you're from.....they're ran everything else here off. I'm surprised that we still have a Dollar General or a Family Dollar. I guess they'll be next to shut down :<(

[wizdumb420]

I believe people hoard till they hit a specific goal...

My first goal is to have 3 Months of EMERGENCY funds to maintain my current life. In case I loose my job or get displaced somehow. Next, I want to be able to purchase my freedom...PROPERTY!

[clabberroach]

In 1959 I bought a farm for $200 per acre. Silver was prices at $1.00 per ounce. (200ounces/acre) for farm land. A gallon of gas was .25 cents. That same quarter made out of 90% silver will still buy a gallon of gas. Today the same farm is valued at $3500 per acre, silver at $35 per ounce. (100 ounces/acre). Looks to me like silver and gasoline have remained to same and farm land has lost 50% of its value. I guess that is why all the big boys are exiting the stock market and buying farms.

[WhyMeWhySilver]

@clabberroach Dang c;ab.....you're as old as I am LOL! Yep I remember those days. I use to work as a car-hop at a very popular BBQ and Burger place called Harper's Drive-In. We had a Juke Box that opened up to the outside that played 3 songs for a quarter. It had songs from Brenda Lee, and then the Beatles LOL! I worked from 4PM - 12AM everyday. My pay was $5 in the form of (2) $1.00 bills and $3.00 in silver change. At the end of the nite I had to give back $4. I got paid $1. Tips were up to me

[Drav1212]

I dont understand you guys. YOu post videos, HOPING for people to view them. YOu allow comments to your videos so people can respond to your videos. However, when people watch your videos and comments your videos, you classify them as "trolls."

[WhyMeWhySilver]

@Drav1212 No drav that's not so. I don't think you quite get the jest of what I'm saying. Let me explain it better, if I can. Trolls are ones that come to posted videos and post JUST to aggravate the uploader or simply make accusations in which most of the time....they don't even know what they're talking about. I've seen so many times where some guys will make stupid post that results in some people that are viewing a video for respectable information...only to end up being confused.. continued

[WhyMeWhySilver]

@Drav1212 Some of these trolls that are out there are posting to do just that. Confuse people into suggesting that they know what they're talking about. If the truth be known.....most of the trolls are walking around their living rooms or bedrooms with a shoe box full of clad quarters and maybe a maximum of 5-10oz's of silver. And sometimes I honestly believe that they believe that they know what they're talking about lol. So I protect my channel....continued

[WhyMeWhySilver]

@Drav1212 with post approval only unless I place you on my friends list. This is only to protect the new comers into metals from being confused and make bad mistakes by simply listening to these guys. And if you're new to metals...you would more than likely not notice one unless he was so obvious to you. Over the past 4 years here on YT......I believe I can spot one......even smell one lol. Trolls can't post here....unless a friend I've approved prior, were to turn into one. Continued

[WhyMeWhySilver]

@Drav1212 I would certainly hope to have those that are serious in learning and can get along with others here to be a part of my channel. If anyone subscribes to my channel. I go to their channel and look for activity that shows they are hard to get along with. If I don't find any. I invite you as a friend so that you can approve without MY approval anytime you'd like to post on my video. I hope this explains the trolls and why I choose to have my channel function the way it does :>)

[denmason]

Another good video Mike. Good ideas. I think we will start seeing more people accepting silver as payment soon. Myself, I would take payment in silver in a heart beat over fiat paper any day.

[SilverCitySlicker500]

You know I'm a SilverSaver now!

[WhyMeWhySilver]

@SilverCitySlicker500 Thumbs up to you SCS. I have another video coming up tomorrow with some tips on SS. They WILL prove to be very important to you in how to you can lower your cost average. I think you'll enjoy it. Especially if you have an account with them.

[SilverCitySlicker500]

@WhyMeWhySilver I can't wait to see it!

Have you ever heard of the American Open Currency Standard? I think it's a great concept for having a Silver Community currency using real money. Let's say God forbid you or I had to bugout and relocate somewhere in the country, and we come to a hood that accepts a certified metal and its value is set by that community organization. An example is AOCS Ron Paul Round (et al) has a value of $50, and if silver goes to $41.50 it changes to $100. Check it out!

[WhyMeWhySilver]

@SilverCitySlicker500 You can do this now if you'd like to move to the Lakota Nation. Commerce can and is done in silver bullion there. You can also do your banking at the FirstLakotaBank there. You can also establish an account there and not be a part of the Lakota Nation. It use to be a minimum amount of 20oz to set up your account. It's facinating to read about. Although I've never sent them any silver. I opened an account but it was never confirmed without the silver deposit. Check it out.

[WhyMeWhySilver]

@SilverCitySlicker500 The FirstLakotaBank only accepts transaction in metals. NO PAPER! Deposits and withdrawals are done ONLY in the form of metals. The Lakota Nation has declared it's Sovereignty from the USA. No action has been taken to challenge their sovereignty by the USA. :>)

[WhyMeWhySilver]

@SilverCitySlicker500 Sorry..........thats FreeLakotaBank. freelakotabankdotcom

[SilverCitySlicker500]

@WhyMeWhySilver Free Lakota is just one of the participators of the AOCS, along with 22 other mints/bullion dealers. Lakota had to get their metals approved by the AOCS inorder to use their stamp of approval. I'm sending you a PM of the AOCS site and the Northern Colorado Community Barter which accepts silver, gold and copper bullion from those 23 AOCS approved dealers. Check it out and let me know what you think. Just throwing out was to use silver and for some to full comfotable buying it.

[SilverCitySlicker500]

O man I just cant wait to make that video asking you to take point on something. You're going to love it now that I know where your mind is!

[clabberroach]

Why do we value silver in $/oz. Why not value it in how many gallons of gas will it buy, or how many oz. does it take to buy an acre of farm land, or how many oz. does it take to buy a automobile? How many ounces does a person make per hour?

[WhyMeWhySilver]

@clabberroach That's exactly where I want to take you clab. But we have to understand that MOST every transaction we make in this system is done with paper. But that's ok.....as long as it's the end result. Lets learn how to bring our metals to their greatest potential. It really doesn't matter that paper is the last thing in a transaction. I hope to be able to explain this further in another video coming up.

[RndmMexican]

Any person who would disagree with you wouldn't be able to deny payment in silver for his services.

"You want silver to be money?

Act like it!"

-WMWS

[SilverNewJack]

I finally talked my friend into changing some of his 100 oz bricks into gold if we get a 20 to1 ratio. I wish he would've listen to your horse sense video. lol

[slhines7]

Sadly, I have to use some of my silver as money by selling it for fiat to pay bills:(

[WhyMeWhySilver]

@slhines7 Hey man things happen. But if you had have never exchanged your fiat for silver.......you would have not hedged. So in fact the cost is not as great if it had been left in paper right?

[slhines7]

@WhyMeWhySilver Ya, I sadly know:( You are most definitely correct about your statement. I was just disappointed that I had to part with some of my silver for fiat to pay bills.

[WhyMeWhySilver]

@slhines7 But you know what? You should be excited that you hedged inflation. And there's more out there to acquire that you can to do the same thing with. That's what it's all about right? I look at metals being 1st and far-most a hedge. As long as you and I can hedge. We win! I won't to be in a position where I can say that every fiat dollar that I spend would have had metals as its base origin. In other words I want to be able to say that the light bill I just paid came from a silver origin.

[slhines7]

@WhyMeWhySilver I entirely know what you mean and I personally considers metals not as an investment and simply just an insurance policy. Sadly, I don't currently have any more fiat dollars to trade for precious metals at this time. It is not that precious metals are going up in price, and really just that the value of fiat dollars are going down. Sadly, my income from my employer of 13 yrs has been going down for the past 5 yrs, while everything else is going up thanks to our unsound fiat $.

[SilverNewJack]

When silver hits $100 I will use a small portion to pay off my mortgage. That's my plan. Then I hope to buy some back at $65.

[WhyMeWhySilver]

@SilverNewJack Great on the mortgage.......to make money we have to work it. There's more to it than just letting it sit. Not that you can't do that. But to increase we MUST work the metals. This too is when we have the opportunity to flip it. Whether it's from silver to gold or gold to silver. Flipping gives us the opportunity to increase our weight.

[natritious1]

As long as big brother makes you pay taxes in USD, cash will always be used first

[odin422]

hmm i think 1 should have a "core" position, but your probably right about us needing to do A LOT more exchange of metals

at a point i think your talking about being your-own-bank, and thus we could all INDIVIDUALLY drastically reduce the amount of inflation BY the banks

we r getting close to a good alternative currency, maybe local, but hopefully soon.

[WhyMeWhySilver]

@odin422 Exactly........you said it better than I did. Thanks for pointing that out odin422

[odin422]

@WhyMeWhySilver see if it was done on a wider basis their would b PLENTY of Capital and liquidity for person to person or business to business loans.....AND THEN u would completely lockout the banksters and they'd have to go back to straight drug runnin'. hahaha

[lucky43113]

Great Video thanks for putting the link to my channel on your video