- Messages
- 1,443
- Reactions
- 1,490
well... depends on who you talk to.. some folks say housing and real estate only goes up up up... and stock perma-bulls say the same. idk...I'm just a dumb putz bubbaUm, that's true with anything one might buy.
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
well... depends on who you talk to.. some folks say housing and real estate only goes up up up... and stock perma-bulls say the same. idk...I'm just a dumb putz bubbaUm, that's true with anything one might buy.
I always read when someone that says in the case of actual SHTF that gold wont matter. Then I look in the history of man to find a time when the S did HTF and it has many times and gold didnt matter. Nope , havent found it yet. Gold matters.
True to an extent, but times change, however. Historically they were a store of transportable wealth. Now we can move money very easily. Man has historically done a lot of things until those things became irrelevant.
And, nations were conquered with weapons. Not gold.
I'm not saying gold or other PMs will become irrelevant. It's simply my non-professional opinion they are a form of fiat wealth. Nobody can every explain WHY gold is worth XYZ, or why it goes up and down. It's almost entirely speculation. And in my mind, speculation isn't a good "store of wealth." YMMV.
In SHTF, I have no practical use for gold or silver other than to trade it off to some other sucker who might want it.
If most people agree with that belief, which I tend to believe would be the case, I can't see a heavy useless piece of soft metal "storing" wealth very well. I think most would purely want it to trade it to some sucker. It seems like a massive built-in ponzi scheme.
If the world is "burning down around you" and you can take 4 items off the table and try to survive, what do you pick? There's a jug of clean water, a backpack full of food, a bag full of toilet paper, a pistol and 2 mag, a big water filter, some rope, a bushcraft knife, a hatchet, a gallon of gas, a blanket, a fresh change of clothing, or a bar of gold. You get 4 items.
The gold would be the last thing (or one of the lower priority items) I'd take.
IMHO precious metals are a big con on mankind. Outside of electronics, gold crowns, (and art or jewelry) they are useless.
It's also a possible hedge to storing wealth for after a return to normalcy. How long, and how much wealth? Unknown, depends upon how bad the initial downturn was. Could be generational, or far shorter term. Ex folks fleeing war torn areas to start anew.
Your analysis of the value of gold holds no historical precedence. You might feel strongly that way but if and when the fiat money system collapses it will right back to being the way it was and the barter system never works well for long. Its just too cumbersome.
Barter towns don't last long. They usually get invaded and enslaved by hungry town.So, tell me how much gold or silver I can trade to you for a dozen eggs, a day of labor, 1000 rounds of ammunition, etc. from you in barter town?
But like I'm saying, it has no use for me now, and no use for me in a SHTF world.
Right now, there's better more useful and more practical stores for wealth or ways to transfer money or things to buy that I can use that will serve multiple rolls. Tools, knives, bullets, guns, land I can farm, a reliable vehicle, oil, fuel, etc. Stocks and mutual funds to make money. Etc.
In SHTF I have no use for precious medals. They're dead weight. I need something I can use immediately to survive. In a fiction, another survivor will trade me his dozen eggs for my gold. But why does he want gold, he cannot use it either? Except to trade to some other sucker. I just don't see the value in it. If I have no use for it, I assume nobody will have a use for it....
Been busy, haven't had a chance to follow up on the thread/read responses, but the place said that they'd test each coin with their machine (I forget the brand).
The "for me" (ie, you) part is well thought out I'm sure. It isn't for everyone. As far as others go, once they have: tools, knives, bullets, guns, land they can farm, a reliable vehicle, oil, fuel, cases of whisky, a years worth of food, water storage for 3 people for a full month and rain collection systems in place, stocks and mutual funds etc covered to their satisfaction, looking back at various periods of history would indicate that having some Gold in the pocket or hidden in a safe in the corner of their home pending the SHTF moment is a fantastically intelligent idea.
Sooo, went and re examined my assumptions. One example, in 1923, say on a Tuesday you had to pay 1/2 a Billion Deutschmarks for a German newspaper. Much more than a year earlier. However, 3 days later, the same paper was selling for 1 Billion Marks. The price in Marks doubled in 3 days. Inflation. Yet had you run out and invested all of your scratch in newspapers...(or eggs) you'd have been screwed. They don't carry well. Yesterdays news is no more sought after than yesterdays eggs. Chose carefully.
You are saying "well that's not occurring now". We are in agreement on that. However, that is not to say it isn't happening abiet less noticeable. In 1974, for instance, at the local McDonalds hamburger place you could buy this:
Hamburger -.15/cents
Fries - .12/cents
Coke - .10/cents
All day long. (OK, not all day, they opened at 11 am then) Now, not to be disingenuous, they also only had one size Coke at the time. If you ordered a Coke, thats the size you got. Later, they came out with the large Coke. A large Coke was 16 ounces. Huge. Today, a 16 ounce Coke is the small Coke and there is nothing smaller. Where did the small Coke go? Difficult to compare a 10ounce or 12 ounce as they no longer sell it. So...there is that. Regardless, a .15/cent hamburger is called a single Hamburger today. How much does it cost? More But had you invested all of your money into hamburgers, you'd be screwed. They would have rotted a long time ago. Gold doesn't rot.
A Chevy car was slightly over $2000 then. How much is a Chevy today? $30,000 or so? Come back after you look up the price of a pickup then vs now...or a house. A house I saw which sold for $12,000 then recently sold for $345,000. Same exact house, no additions although I will admit it must have not had the same heinous shag carpet. Regardless. Thats called inflation. Would you want to have cash stockpiled or gold? Let say that you had 12000 in cash back then, but you chose not to buy a house or gold. Now you have the $12,00 plus a bit more for interest. You won't be paying cash for a house. You won't even be paying cash for a Chevy. If you had gold then, trade it in now for cash and get a house and Chevy.
See Not that simple, and the choice of gold or cash isn't an honest pitch any more that your pitch was up thread. You can only choose what you believe will work for you. The choice isn't between the 2. It's between all the things you noted and then some. Choose well. Todays choice may not be tomorrows best choice.
Best of luck. Side note< that $300 gold closed at $1604 today. Not $1500.
I suppose when a king has everything else he could possibly want, then buying up heavy pretty soft metals and creating artificial scarcity and assigning value to them is a great way to make a fiat wealth.
That's just not true. A new silver dollar is 1oz .999 silver. It will always be 1 oz silver ..... and everyone will accept it. If you want to sell it for a dollar....I'll buy all of them you can haul....for face value.Buy ingots instead.
Melting down currency in the US is illegal, so the value of a coin is only whatever its monetary value is. Doesn't matter if its made of Gold or Tin.
I used to work with a guy who was deep into this and have already asked all these questions.
In fact, the other day, I found a walking liberty that I'd bought about 10 years ago and had forgotten about.
Its pure silver and I picked it up during that 5 seconds that Silver was worth about $50/oz.
It's worth? A dollar. It's a dollar coin.
Buy ingots. That way, its ONLY value is of the material its made from.
Buy Gold Bars | Gold Bullion Bars For Sale | US Gold Bureau
Buy gold bars in a variety of sizes. Invest in gold bars by gold weight. Purchase gold bars at the United States Gold Bureau.invest.usgoldbureau.com
Dean