To all the guys buying up gold and silver

[Cooter]

beans are way cheaper than gold... if you're really worried about meltdown, stack up rations. WAY cheaper than gold. And will appreciate in value EXPONENTIALLY higher than gold...

if the SHTF, an ounce of gold might buy a 50lb bag of beans LOL

[Moose242]

beans are way cheaper than gold... if you're really worried about meltdown, stack up rations. WAY cheaper than gold. And will appreciate in value EXPONENTIALLY higher than gold...

if the SHTF, an ounce of gold might buy a 50lb bag of beans LOL

If we had a true SHTF scenario straight out of a Cormac McCarthy novel, I would rather just die.

[Hmbre97]

If we had a true SHTF scenario straight out of a Cormac McCarthy novel, I would rather just die.

You could just use your silver spoon for trade. You've held onto it all these years I assume?

[Moose242]

You could just use your silver spoon for trade. You've held onto it all these years I assume?

Indeed.





I don't know how you peons live without your Rolls Royces, airplanes, casual trips to five star restaurants, or Dallas Country Club memberships.

[sc281]

Indeed.





I don't know how you peons live without your Rolls Royces, airplanes, casual trips to five star restaurants, or Dallas Country Club memberships.

Poorly, that's how.

[Venix]

Indeed.





I don't know how you peons live without your Rolls Royces, airplanes, casual trips to five star restaurants, or Dallas Country Club memberships.

I spent all my summers @ the DCC. I never understood what the big deal was. Seems like anywhere else would be just as nice.

[Machx2]

I am stating on a global economic collapse; not just the US. I am having a hard time seeing gold traded for food the same as gas or oil good be. When you really think about it; gold is just a pretty looking precious metal. Their are far more scarce resources out there that I believe we could base a monetary value on in a bartering system then say gold. Just my personal opinion.

This is my opinion on this. I don't invest into silver or gold for this because I don't think it is going to happen. But if there is a global meltdown and it is a free for all, eventually you have to think that it would get back to a barter system. Gold, silver, diamonds ect.. Might hold value in such a thing. People would sell cattle and other items, then use gold to buy what they need. It makes perfect sense. Everyone even today looks at gold, silver and diamonds as valuable items. So you have to think if something crazy happens, everyone will still see gold and silver as valuable. It has been that way in every country and culture forever.

[FATHERFORD]

My solution is to diversify my assets in preparation of a collapse. Gold, Silver, food storage, well water, guns/ammo, fuel, along with certain electronic items stored in a faraday cage.

In a worst case scenario, pending on a very large mob attacking my residence, I should be able to survive any monetary collapse for a given length of time.

[jakesford]

Personally I've been stock pilling unobtanium...

[sc281]

Personally I've been stock pilling unobtanium...

PAnning on takin' a trip to the core, are we?



I WANT IN!!!

[Denny]

Frost and Alan were pretty close to what you need if your goal is some sort of self-preservation in the event of some sort of currency collapse. With the Dollar and Euro looking as bad as they are these days, many of us are looking into preserving our wealth one way or another. Since almost all other global currencies are tied into one of the two (if not both), so naturally many will resort to falling to gold and silver since it has been a proven source to store wealth since wealth has been stored. It's rare. It costs money to locate, mine, mint, etc. It can't be reproduced (like printing). It holds a recognized value around the world. It is a medium of trade. Who wouldn't want to hold some? Even in the best of times (I guess that's what we call it), some people hold a small percentage of metals as a hedge against inflation.

What we're seeing right now (not just in metals) is the beginning of deflationary characteristics in our currency. The Dollar seems to be getting slighly stronger because many people are liquidating their investments and holding cash. It takes more of the currency out of circulation and increases its demand, thus making its index rise against other currencies. As bad as the dollar looks right now, the Euro is in worse shape and it is becomming common knowledge.

But back to your question; yes, have it and hold it, but do not put your full faith in that alone. The only reason I hold such a large percentage of it is because I set up other areas of concern first. I would start with a list, prioritizing you and your family's needs.

Example:
Water
Food
Protection
Land
Tools
Clothing
Other commodities of barter
Material for building and/or basic operations and maintenance
Precious Metals

Even in a worst-case-scenario situation, precious metals should be low on the list. I would, however, get a small core position in it, just to be safe. Right now is a good time to pick some up, but I'm not convinced we've seen a bottom on this pull back yet.

[Denny]

BTW, I'm holding more cash now than I have in a long time, if that means anything to anyone.

[stevo]

beans are way cheaper than gold... if you're really worried about meltdown, stack up rations. WAY cheaper than gold. And will appreciate in value EXPONENTIALLY higher than gold...

if the SHTF, an ounce of gold might buy a 50lb bag of beans LOL

One of the big reasons of using precious metals as currency was the portability. Taking around and trading 16 ounces of gold is easy, taking around and trading 800 pounds of beans isn't.

Stevo

[Cooter]

One of the big reasons of using precious metals as currency was the portability. Taking around and trading 16 ounces of gold is easy, taking around and trading 800 pounds of beans isn't.

Stevo

very true, but if you're hoarding shit at your house, hoard beans

[ceyko]

You'll then have a stankin' fart house.