Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

[mts]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

I know people that are hoarding silver coins and gold, because they think the world will be hit with a huge disaster in 2012. They also think a New World Order will take over and make most currencies worthless. They have 10 other nutty theories of other bad things that will happen.

And then there are those of us who collect/invest in it as a hedge against the falling dollar. I realize that people like to talk about survival and barter. And yes, silver and gold could be used for that. But that is not the most likely scenario. The most likely scenario is that the dolllar continues to decline in value to the point of being worth less than 1/4th what it is worth today.

The world is not black and white. And catastrophes come in all shapes and colors. On one end of the spectrum things pretty much continue as they do today. Or perhaps the dollar falls a little more. In that case, gold and silver are good to have and people will still gladly buy them off of you. On the other end of the spectrum you have complete and utter failure of the system. We're talking a "Road Warrior" type scenario. In that scenario guns and gasoline are going to rule the world and no one is going to want silver and gold. Keep in mind however that the latter scenario is probably the least likely to happen unless an asteroid hits the earth or there is a nuclear war that wipes out just about everything. The most likely scenario is actually somewhere in between (but not necessarily in the middle).

So for the most likely scenarios silver and gold are good to have. Read up on "fiat currencies" to see what I mean. But people usually don't want to talk about the most likely scenarios. They'd rather talk about the Road Warrior scenario. That's fine and it's fun to fantasize about. Just don't assume that everyone buying silver and gold are doing so because they believe we will end up that way. Even the people who put it on their list of reasons why you should hold gold and silver do not give it the same weight as they do other reasons on the list. I've said in the past that I consider having gold and silver to be a good idea in case you ever need to barter with someone. But I don't consider that to be the most mportant reason. And I'm fully aware that if things really go down the dumper that people aren't going to want silver and gold.

 

[rockhound]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

It's good to get to that point of producing most of your food,but there's much more involved in self sufficiency.When the pioneers headed west, they had to make everything they needed in order to survive. With no stores and few trading posts, it involved long distances traveled just to get salt,sugar, or coffee. There are of course, substitutes for some of these things. Most people salted and sugar cured their hams and shoulders and kept a smokehouse. Without refrigeration, it was the best solution to preserving meat, or they smoked and made jerky with some. They made their own clothes from their own cotton, spun on a spinning wheel. They had cows,chickens, and horses,all needed to complete their tasks and producing food. They made their own ointments,polstices and cures,as there were no doctors or hospitals nearby.They carried water, or made sisterns to capture water when it rained.Living like this was a full time job. They did gather some food and medicinal plants. Nuts,mushrooms, water cress,and venison rounded out their diet. They made their own lye soap,shampoo,deodorant,oils, butter,and toilet paper. These are just bare necessities,unless you want to live really primitive. Good Luck. rockhound

 

[spartacus53]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

Gold is pretty but has no nutritional value and silver has an odd taste. Skills that are transferrable and self-sustaining. Now that's a good investment.

Well said Charlie P.

I didn't go into that the first time around, I merely said to buy your way out with precious metals, is that you would need a ton of it to get by.

It is your ingenuity and outdoor skills that would be most helpful.

As far as electricity that is a must!!! Just look back at the 1700 and part of the 1800's where there was little electricity, where are these people today I say? I'll tell you where they are, they are all dead. Had they had electricity, they would still be OK and kicking around today. OK, a bad joke, but the point is people did without many of today's comforts that we take for granted and yet they still LIVED, not survived, but lived!

 

[Letsgethammered]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

I know people that are hoarding silver coins and gold, because they think the world will be hit with a huge disaster in 2012. They also think a New World Order will take over and make most currencies worthless. They have 10 other nutty theories of other bad things that will happen.

And then there are those of us who collect/invest in it as a hedge against the falling dollar. I realize that people like to talk about survival and barter. And yes, silver and gold could be used for that. But that is not the most likely scenario. The most likely scenario is that the dolllar continues to decline in value to the point of being worth less than 1/4th what it is worth today.

The world is not black and white. And catastrophes come in all shapes and colors. On one end of the spectrum things pretty much continue as they do today. Or perhaps the dollar falls a little more. In that case, gold and silver are good to have and people will still gladly buy them off of you. On the other end of the spectrum you have complete and utter failure of the system. We're talking a "Road Warrior" type scenario. In that scenario guns and gasoline are going to rule the world and no one is going to want silver and gold. Keep in mind however that the latter scenario is probably the least likely to happen unless an asteroid hits the earth or there is a nuclear war that wipes out just about everything. The most likely scenario is actually somewhere in between (but not necessarily in the middle).

So for the most likely scenarios silver and gold are good to have. Read up on "fiat currencies" to see what I mean. But people usually don't want to talk about the most likely scenarios. They'd rather talk about the Road Warrior scenario. That's fine and it's fun to fantasize about. Just don't assume that everyone buying silver and gold are doing so because they believe we will end up that way. Even the people who put it on their list of reasons why you should hold gold and silver do not give it the same weight as they do other reasons on the list. I've said in the past that I consider having gold and silver to be a good idea in case you ever need to barter with someone. But I don't consider that to be the most mportant reason. And I'm fully aware that if things really go down the dumper that people aren't going to want silver and gold.

Exactly , the dollar can go down the crapper but gold will always be gold.Sure it can down as well as up,ill take my chances.I sink every spare cent into gold and silver.They have been precious since time began,why would anyone suggest that could change , doesnt make a bit of sense.

 

[SoDelft]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

I am ambivilant about these kinds of discussions. Great civilizations have declined over time and then toppled because they could not adapt to change. So many scenarios could happen everything from government marshal law to a great catastophe. So we have people trying to predict the future. I fear a more Latin Americanization scenario most. We simply are losing our standard of living with less opportunity and creativeness available. With Congress being bought out and the people like sheep , I think also of the waning days of Germany's Weimer Republic( massive debt, people looking for a messiah, people willing to have a silent capitulation for material security.) And as to fighting a government that has drones, tanks and satelites, night vision goggles. I fear that battle . Think about an Orwellian society( George Orwell) cameras everywhere, a new DNA chip identity card in the works
a news media controlled. I hope that is not our future.

 

[Sandman]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

I cleared an extra 1/4 acre (now one under till). Added some chickens to bring us to 33 (currently 4 roosters & 29 hens - just put six roosters in the freezer). Have a male & female turkey and just sold their last brood to buy feed for a while.

Ordered up a bunch more seed last week.

And this is just to supplement our full-time jobs. We raise/shoot/harvest about 75% of our meat and vegetable intake and - in hard times - could do 100% for a long stretch.

We're set for a bit.

Gold is pretty but has no nutritional value and silver has an odd taste. Skills that are transferrable and self-sustaining. Now that's a good investment.

It might also help to stock up on ammo, just in case............

 

[DanielWestman]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

Your first priorities to prepare for a national/global economic disaster should be food and shelter. And you need to be prepared before it all goes down the drain, because it will sooner or later, and the US economy will drag the rest of the world down with it.

Charlie has got it. Starting to grow your own food, even if it's just a percentage of your food intake, is a great way to prepare yourself for tough times. Even if the economy doesn't go down the drain, you'll be saving money by growing your own healthy food! Me and my girlfriend buys food for $5000 every year. When we start to grow our own food I'm confident we can lower our food spending to $1000 a year at least. That's $4000 a year that we can use towards paying off our future mortgage.

And while we talk about mortgages, that's another good way to prepare yourself. Pay off your mortage and own the home you live in. That way no banks can come knocking on your door and say 'We're taking your home'. If the economy would really go to hell, there would be no banks left to sieze your home, but you could loose your job tomorrow and by owning your land you won't risk loosing your home because of the mortgage payments.

I'm thinking of investing a small amount in silver every month, like $30. I see it as a diversification of assets, don't put all your eggs in one basket. I have way too much money in the stock market than I should. About investing in silver vs gold with the purpose of preparing for an economic collapse, I would choose silver. Let's say the economy goes to hell and we enter a barter economy. When you go and barter for food, it will probably be easier to pay with a couple of silver eagles at $17 a piece than a gold eagle worth $1100. What's your thoughts on this?

I've recently started listening to a great podcast about preparedness and surviving the coming economic collapse. Check it out if you want to, I recommend it! http://www.thesurvivalpodcast.com/

 

[godisnum1]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

Here's some nice silver...
https://store.nwtmint.com/product_details/2920/Stagecoach_Silver_1_Ounce_Bar/

They are practical for trade/barter/sale, though I believe the price might be slightly more than for forms of silver.

Bran <><

 

[lastleg]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

Walmart will never close.

 

[godisnum1]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

Walmart will never close.

Hahaha... TRUE!!! They are pirates of the Industrial World!

Bran <><

 

[Produce Guy]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

I remember an old Twilight Zone where these bank robbers steal a truckload of gold,go into somekind of sleep chamber in a cave,and then wake up in the future where now know one uses gold anymore.
I think Charlie has it right,land ,animals,seed,and love.

 

[truckinbutch]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

We have land , animals , seed , and love . We also have the ability , knowledge , and equiptment to make liquor . That's our gold and silver reserve . Long as we can protect what we got we can trade for anything we lack .
Tradin comes 'natural', too .

 

[Cool Hand Fluke]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

Honestly, precious metals have an inflated value to begin with. For many years gold was at $35/per troy ounce, now look at it. Are you worried about having to swap a gold ring for a quart of milk, or a week of groceries? If that is the case, you will need a stash as big as Fort Knox to get by. I'll just bury any I have and let someone in the future have fun with their MD looking for it.

In 1920 if you had 25 twenty dollar gold pieces you could by a brand new ford model T. (25 X $20.00 = $500.00) Today in 2010 25 twenty dollar gold pieces will still buy you just about any brand new car. ( 25 X $1800.00 = $45,000.00) The problem is worthless paper that our criminal government keeps printing without any backing. This includes the crappy clad coins as well.

 

[Noodle]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

I don't know what's going to happen, but 1950's it ain't. Looks more like Rome every day. Folks think "it" can't happen, but it does. But even if you have a little plot of land, the way the gov't is going, they'll just come and take it away from you and declare it gov't land. You can shoot all day with your guns and rifles, but you'll be dead or gone in the end. Think you can defend yourself against the Homeland Military? Better think again and do something before it gets that far gone.

 

[truckinbutch]

Re: Hoarding Silver & Gold for survival. How will you spend them ? Whats your plan.

I don't know what's going to happen, but 1950's it ain't. Looks more like Rome every day. Folks think "it" can't happen, but it does. But even if you have a little plot of land, the way the gov't is going, they'll just come and take it away from you and declare it gov't land. You can shoot all day with your guns and rifles, but you'll be dead or gone in the end. Think you can defend yourself against the Homeland Military? Better think again and do something before it gets that far gone.

There were some folks that had this same mindset in the 1770's ..........................................
We called them 'The British', back then .