Gold & Silver in a economic collapse

[hotheadedjoelhaha]

O.K. Let's get this all straight. If, No. when this happens. Do you Think that you are going to be living where you are living now? And then Bulk, we can talk about the BULK of the items you are talking about. U mention Katrina, FIRST thing they did was Break down doors and took Guns and MADE U LEAVE your house where ALL your stuff is! So IF you can leave your house with just a few ozs of Silver/Gold, Uwill find Someone to trade with. Yes food, more important. Ya gonna carry it all or?

[catdoc541]

@hotheadedjoelhaha It depends on what happens. If it gets too bad I will not be at home. I store some supplies at home but most is in a defendable retreat with several other like minded people. As far as being forced to leave, that depends on where you live, the building you live in as well as your resolve.

[catdoc541]

@hotheadedjoelhaha It depends on what happens. If it gets too bad I will not be at home. I store some supplies at home but most is in a defendable retreat with several other like minded people. As far as being forced to leave, that depends on where you live, the building you live in as well as your resolve.

[number1songstress]

good thoughts... thanks for the video...

[TriggerManxL]

In a Collapse,wth will i do with a silver bar?

i would just barter food and tools for what i need

[USNERDOC]

Very interesting line of discussion with some good insight.

[mtwood992211]

if you have food storage, chances are that you won't want to part for it for ANY reason. But you can have both food storage AND barter items such as gold/silver/ammo, etc to trade for other items that you don't have stored

[catdoc541]

@mtwood992211 With most of us on a limited budget, you are making the same trade. Right now if you choose to buy $50 of food and $50 of metal, you are giving up $50 worth of food. Think about that purchase in terms of after the fact. If you are in an emergency and could get $50 worth of food or metal, which would you choose?

[windalu]

In a truly apocalyptic survival situation, precious metals would be useless. But if you consider "only" economical collapse then precious metals will still keep considerable value because they are much easier to pay with (as opposed to bags of food) and, most importantly, they are not subject to "artificial" inflation caused by issuing new money. Because of this people will have no reason not to trust precious metal currency. And the trust of people is the only thing that makes money work.

[patmisir58]

Question

how can you hoard the food ?

[catdoc541]

@patmisir58 Buy extra food that you normally eat with a shelf life of 6 months or more and rotate your stock. Meaning eat the older stuff first, replace with new stuff so your stock never goes out of date.

[quasivivo]

Who on earth would be trying to trade antique gold coins in a survival situation? It's an investment, a store of wealth to guard against inevitable inflation, not a tool for bartering in a post-apocalyptic wasteland. Unless we're taken over and enslaved by aliens or we somehow devolve into a caveman-like society with no civilization whatsoever, gold will always retain its purchasing power. Couldn't hurt to store some MREs and ammo, but this isn't a one or the other type decision.

[Iwent2Jared]

You made a very good point here, but why exactly would you need to bargain if your in a post-katrina situation? Ammunition, yes. Food, yes. Coins? Questionable. But im just saying that if you need help, i wouldn't think you would have to barter for it.

[Waiting4TheWorms]

Gold and silver will prove to be worthless. Especially if they institute a new currency. Food, water, toilet paper, soap, ammo, guns, cooking oil, etc. will definitely be good currency.

[buzzz121]

Not true whatever currency they use gold/silver will have a value to buy this new currency anywhere in the world.

[catdoc541]

I agree that gold and silver will nerver be worthless as they are precious metals. As for an economic collapse, gold could see a sharp decline in value locally for a short time (may be an extreme decline in a survival situation) but, long term you would be ok.

[buzzz121]

I do not believe it will be a mad max situation it will be more like the Argentinan currency collapse and change of currency, it will be ugly for a period & a black market will emerge for food, booze, cigarettes, ammo, etc... until the new currency is in place. The question is how long will this ugly period last?

[frgtmygld]

If things break down completely water, food, & ammo will be invaluable. Metal money will be valuable until the wheels fall off and then again once things stabilize.

If things order is maintained, power grid and transportation still serviceable, then metals will do very well. MREs and water will have little value unless you really like 'em for lunch.

Ammo is ALWAYS useful.

Skills are always useful.

Common sense is invaluable.

It all depends on how bad things get.

[mayartay]

Gold and silver coins are a store of value. it's hard to store say, a rail car full of food. With technology (need for Internet, phone, etc), we are too advanced to suppose we need only food and water. We could go back to the stone ages, but that is not my expectation. Even if you went back to 20,000 b.c. in a time machine, you would probably find that some shiny gold and silver coins would come in very handy.

[catdoc541]

That is a good point. I fear though, the price of gold is inflated and if you invest in it you might lose a lot of that value if a depression occurs because the demand will drop off. I don't know for sure but I thought one of the biggest buyers of gold was the US right now to hedge against the falling dollar and if the biggest buyer goes into a depression I think the demand might decrease and negatively effedt the going price of gold. But I don't know.

[catdoc541]

Also I wanted to stress that silver isn't as high as gold, which I think is a bubble that will burst, and so if you have basic needs met and want to collect some silver I don't think there is as much room for that to come down in a economic collapse. Still. you need to think about who you are going to be bartering with. There are a whole lot of people that won't have the basics and thus making food and water worth more in a down turn.

[Waiting4TheWorms]

Actually right now, for the money, silver is a better investment then gold. Let's say Gold id at 900 dollars an ounce, hypothetically.. Let's say in a year it goes up by 20%. You bought 900 worth. You just made 200 dollars. But silver, let's say it's 20 dollars an ounce. Next year it could be 30-40 dollars an ounce you just doubled your money. Silver has more industrial uses and is in more demand in industry.

[Waiting4TheWorms]

(180.00)

[geraldcaron]

"Why always an apocaliptic situation." Many people beleive that the depression is setting in, yet way too many believe that a Katerina like situation will happen. My point is look at Argentina, Iceland, Wimar, Yougoslavia or Zimbabwe, those places didn't end up in Armageddon, but more of a situation where people lost thier jobs and the gov. cheques had no value. Those who are on a limited budget, and buy silver, may have to sell silver when they loose their job, before the anticipated rise.

[catdoc541]

@geraldcaron What would they have to sell their silver for? Food, is a likely item they would be trading for. If they bought food before the hyperinflation, the food would have held it's value just like silver with out the mark up from the person they bought the silver from and the mark down when they sold it.

[geraldcaron]

@catdoc541 That comment proves me right, one year later, silver has increased by 50%, so it was a good investment. many people who were on a tight budget have sold their coins before now, especially those who have lost their jobs. Yet, there has not been an apocaliptic situation, just an economic slide, a very slow one. And in one year from now, chances are, it will be the same difference between the last year to the next one.