When should we buy metals? Silver, Platinum, Gold, etc?

[RX-79G]

These discussions are based on worst case scenarios. Hence prepping for the worst puts you in shape for anything less than the worst. . That's generally what the whole exercise is about..

Sure, and if you have tens of millions of dollars, you can spread your wealth across many different valuables, hoping that some of them will be useful. Most people don't have that ability and need to take some good bets.

I'm just questioning your faith that gold and silver will have particular intrinsic value in a realistic future. They could, but 2030 is not going to be 1830 just because the power grid is gone.

 

[GWS]

You don't need 10's of millions of dollars, though it would make things easier. My faith in the value of precious metals is based on history. They have always been desirable. I believe that the desire for gold and silver is part of the human condition. Gold and silver have gotten folks out of bad situations forever and they are tangible items, recognized and valued just about everywhere in the world. I think that won't change after a collapse. Consider Venezuela. Folks are using gold flakes to buy food. On my wall is a souvenir of my African safari. A Zimbabwe 100 Trillion dollar note from the final days of the collapse of their currency. Now Zimbabweans use foreign currency. which makes me question the value of electronic banking when inflation is at Weimar levels, other than your no longer needing a wheelbarrow to carry enough money to the store to buy food?
So yeah, precious metals.
If I'm wrong, there's still plan C, D etc.

 

[Mono1]

But PMs having value in pre-collapse world is why they will still have value post-collapse. PMs are a known quantity. An ounce of gold or silver is a measurable quantity and difficult to fake.

Well said. Near the end of World War II (1944) the Allied nations formed an agreement to make the US Dollar the global reserve currency (essentially a new One-World Currency). This was an attempt to avoid the horrors of the first half of the 20th century hyperinflation during the 1920's and worldwide depression in the 1930's. The agreement was called the Bretton Woods agreement.

The one sticking point that kept all nations from agreeing to the new arrangement, was that they insisted the US Dollar be convertible into gold. So, that way a nation could choose to receive either USD or gold in settlement. Ultimately the gold clause was added in order to get all nations to agree.

The agreement lasted until the late 60's/early '70's, when one day the French did the math, and decided there was not enough gold in Fort Knox to back all the dollars that were being created. They requested settlement in gold instead of dollars. The rest is history.

The history books teach that the inflationary '70's resulted from an Arab "Oil Embargo" in which "they" doubled the price of oil.
What they don't teach, is that the value of the dollars the Arabs were getting for their oil crashed by half, after the French refused to accept dollars in lieu of gold. See "Nixon Shock" for more info.

 

[Burt Gummer]

So the first time in many weeks, people are letting so of some silver. At $24.10 melt yesterday. Seeing private sales at $26-$27 which beats just a couple weeks ago when any seller I saw was $30 for generic coins or bars.

If/when Silver ever makes another early 80s run and people want to sell that wont be a problem at all.

Buyers will be lining up. Mentioned this before. When silver was <$16 around 18months ago no one was buying or cared. 75% of people exchanging silver have a buy high sell low mentally. Just because silver has creeped down a bit the sellers are coming back. Odd stuff. The 'ol fear vs greed thing I guess.

 

[Burt Gummer]

Mono1 - very informative and thanks, also - The best book on the truth about Fiat currencies and the private, foreign bankers that own the Fed is by G. Edward Griffin. The Creature from Jekyll Island. A must read. Off topic apologies, his other is World Without Cancer. Why cancer is even still around and known preventative measures have been suppressed. We indeed live in a world where $$ is ALWAYS the bottom line. The second book is always in video, maybe on YT cause it has been around since the 70s.

A sickly and fearful populace is beneficial, and very profitable, to corporate gov. Gov always ONLY cares about power and control as in ALL gov. Always has been that way. Does NOT care about us, our health, nada. Amazes me that people actually trust proven liars time and time again.

 

[Mono1]

G. Edward Griffin. The Creature from Jekyll Island.

Yep, thanks. Have it and read it. Good book, but what folks don't realize is that the original setup worked pretty well until Congress intervened and screwed it up (as always). They passed a law requiring the Fed to buy US Treasury Bonds, something not in the original charter. After that, is when it really became a monster.

 

[Mono1]

So the first time in many weeks, people are letting so of some silver. At $24.10 melt yesterday.

WAY to early to be Selling. WAY! Did I say Way???

 

[Burt Gummer]

Mono1 ... and of course the fractional reserve banking scam .... backed by nothing since the early 70s. Remember just three years ago they were trying to push through NEG interest rates hahaha - I mean damn. All a scam for our wonderful trillionaire, money printing owners.

Oh well. Decided long ago not to get worked up over things I can't change. Blackrock and other trillionaire mega corps buying up housing, farms, land with free printed $$ and leaving your average Joe in a tent in the coming years.

 

[gmerkt]

For the same reason that diamonds, which are common as dirt, are thought to be valuable.

Diamonds are a different story than PM. The diamond trade was very closely held for many years, a form of manufactured scarcity. And subject to a high degree of promotion. Also, raw diamonds are one thing, cut diamonds are another. Some degree of value in cut diamonds is in labor. As an "investment," I would only buy diamonds to the extent that they might please Mrs. Merkt, set in gold.

presuming that old standards will continue, but that's not really how it works. People not so long ago thought their leaders were gods and that there were immobile classes of people. We're unlikely to go back to that, just as we are unlikely to go back to company towns and fur trapping.

So true. We may use the past for modelling because it's the only reference we have as a potential clue to the future. In the experience of my 71+ years, PM have only gone up, net. It's my hope that they will mimic this trend in future. Which I don't have all that much of left to worry about, but my family will get something out of it.

From time to time, I watch the technicals re. PM, their charts and wise prognostications tend to make me laugh. The lines on charts, the Fibonacci indicators, blah, blah, blah, it's all guesswork. What I do know is there are historic, steep highs and lows. We know it because it's happened. We can't know the future, but we can perhaps get a faint glimmer of possibilities when the numbers in the economy get real big, bigger than they've been before in relative terms.

I say again, I don't view PM as of much immediate value in a SHTF situation. More like protection against loss of wealth, maybe. If it involves a SHTF sitch, it's for after, not during. Or if SHTF never comes, protection against wealth erosion over time, maybe.

My faith in electronic assets is not strong. I see them as basically vulnerable to a number of potential threats. For example, I always insist on a paper document for CD's, just in case. That presumes the institution would still be viable if something went badly wrong.

 

[GWS]

Diamonds are a different story than PM. The diamond trade was very closely held for many years, a form of manufactured scarcity. And subject to a high degree of promotion. Also, raw diamonds are one thing, cut diamonds are another. Some degree of value in cut diamonds is in labor. As an "investment," I would only buy diamonds to the extent that they might please Mrs. Merkt, set in gold.

Exactly
So true. We may use the past for modelling because it's the only reference we have as a potential clue to the future. In the experience of my 71+ years, PM have only gone up, net. It's my hope that they will mimic this trend in future. Which I don't have all that much of left to worry about, but my family will get something out of it.
Again, spot on

From time to time, I watch the technicals re. PM, their charts and wise prognostications tend to make me laugh. The lines on charts, the Fibonacci indicators, blah, blah, blah, it's all guesswork. What I do know is there are historic, steep highs and lows. We know it because it's happened. We can't know the future, but we can perhaps get a faint glimmer of possibilities when the numbers in the economy get real big, bigger than they've been before in relative terms.

I say again, I don't view PM as of much immediate value in a SHTF situation. More like protection against loss of wealth, maybe. If it involves a SHTF sitch, it's for after, not during. Or if SHTF never comes, protection against wealth erosion over time, maybe.
Yep

My faith in electronic assets is not strong. I see them as basically vulnerable to a number of potential threats. For example, I always insist on a paper document for CD's, just in case. That presumes the institution would still be viable if something went badly wrong. Same here. My own paper trail, if you will. It may not be worth the paper it's printed on if the bank fails, but it is a hard copy record. I'd read that hackers have stolen over 5% of the bitcoins extant. At least with PMs they'll have to get off their sofas to steal them.

Replies in BLUE

 

[gmerkt]

Yes, I've read that Bitcoin has had it's share of problems. Hacking, theft by scamming, and just as dangerous, lock-outs due to password issues. It must be very troubling to people who own it. But not as troubling as what could happen if everybody wakes up at once and figures out that it is a contrived "asset" with no more behind it than a paper currency. All the wonder of block chain tech doesn't impart value.

 

[RX-79G]

Yes, I've read that Bitcoin has had it's share of problems. Hacking, theft by scamming, and just as dangerous, lock-outs due to password issues. It must be very troubling to people who own it. But not as troubling as what could happen if everybody wakes up at once and figures out that it is a contrived "asset" with no more behind it than a paper currency. All the wonder of block chain tech doesn't impart value.

To be clear, I never suggested buying current digital currency that would be good on the other side of a cataclysm. I only suggested that when people attempted to set up a new economy, they might go directly to digital money and skip the specie step.

So true. We may use the past for modelling because it's the only reference we have as a potential clue to the future. In the experience of my 71+ years, PM have only gone up, net. It's my hope that they will mimic this trend in future. Which I don't have all that much of left to worry about, but my family will get something out of it.

PM is a real commodity here and now, and the world has been an incredibly stable place for 70 years. I just don't think that has much to do with how it will operate after an upheaval.

 

[GWS]

PM is a real commodity here and now, and the world has been an incredibly stable place for 70 years. I just don't think that has much to do with how it will operate after an upheaval.

What is your idea of an upheaval?

 

[RX-79G]

What is your idea of an upheaval?

Anything that makes the US dollar valueless, other than inflation.

 

[Burt Gummer]

.... for all we know, since supply and demand don't really apply, silver could go to $5 just as easily as $50

.... one thing is for sure. Fiat currencies as in the dollar with go to ZERO at some point. All fiats do.

 

[GWS]

.... for all we know, since supply and demand don't really apply, silver could go to $5 just as easily as $50

.... one thing is for sure. Fiat currencies as in the dollar with go to ZERO at some point. All fiats do.

Silver has been at both $5 and $50 per ounce but whatever its price, it's still an ounce of silver. Fiat currency is only a piece of paper and digital currency isn't even that.

 

[Mono1]

Replies in BLUE

Same here. My own paper trail, if you will.

Ditto on the Hard Copies. The only real easily presentable evidence you have in a court of law.

 

[Burt Gummer]

I've been a silver buyer at $14-$17 over the years. Like I said before, when it is low, people are more motivated to sell. Unfortunately, the plan is to impoverish people and starve them out for 100% gov dependence in the coming short years.

Silver is NOT a supply/demand commodity. When the bankers can print silver certs at will it is truly similar to fiat currency in that regard. It is still better than dollars in hand or much better than anything in a bank. Bank 'holidays' will be coming as will grid issues. Your average person will not have a clue as to what is happening.

Interesting times. Lots of phony fear distractions to keep people occupied later this year and onward.

 

[Mono1]

Interesting times. Lots of phony fear distractions to keep people occupied later this year and onward.

We are in the early innings at this point. I think the real "Launch" in PM's will come once it becomes evident that the Fed has to stop the QT process and switch to QE (which will come when Fed Funds is closer to the CPI ). Until then, accumulation is in order.

But the Launch, when it comes, will be something to behold

 

[Burt Gummer]

It's always been this way. . . "Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves."

What happens next is slightly different this time around . . . YOU will own NOTHING & YOU WILL be happy - Klaus schwab, World Economic Forum. Starving people do not make demands.

Whatever profits are to be made, they better come prior to 2030. Most likely serious event(s) between now and then. Famine, wars, WEF takeover of govs, the 25th jab, lots of fun stuff to come. All planned and scripted far in advance.

Disregard the enemies our fake media are pimping. That nation, that group, we are good they are bad. Some of our lower tier controllers just cannot help but brag and we get a peek behind the curtain as the who the manipulators are and what they want.