I just bought another 20ozt of Silver
- Thread starter Mobile Bay
- Start date
So what exactly is your plan for the silver if the dollar collapses? Make bullets with it?
Never know when you might face a lycan.
That’s the problem with gold and silver. If the dollar collapses, money will have no value. Gold and silver only have value if it’s converted to a currency. You aren’t gonna trade gold for bullets, food, liquor, or weapons. You just aren’t. If you really think a systemic collapse followed by the end of the world is happening in your lifetime, stock up on bullets, weapons and vodka/everclear. You will be the king.
The Romans thought the sestercie would be fine forever. How did that work out?
Weren’t the Roman coins made of actual gold and silver? And again, what is your plan for the silver if the dollar collapses. I’m not saying you are wrong, i just don’t know what to do with gold or silver in that situation.
He has not thought that far ahead… but silver or gold with US dollars and hope it goes up so you can sell it for more US dollars. That’s about what can be done
Do some research on how the Romans steadily reduced the amount of precious metals in their coins as the empire fell. Remind you of another more current world power??
There is nothing new under the sun. We are technologically advanced, but we are the same human idiots we have always been making the same mistakes.
Right, and people shaving the edges of coins trying to collect enough dust to make more coins. All that stuff. I agree devaluing your currency is a bad thing. I just want someone to explain how having gold and silver bullion is going to help in the event of a government collapse. Logistically, how will it work.
Gold and silver has always had value regardless of who or what minted the coinage. It can be bartered for goods and services in the event of a monetary collapse. Along with arms and ammunition it’s a hedge against total economic collapse. The problem with buying gold and silver is that regardless of the price, it’s never going to increase in value. 150 years ago one ounce of gold would buy you a good gun and an ounce of silver would buy a box of ammunition , today an ounce of gold will buy you a good gun and an ounce of silver will buy you a box of ammo.
Got an example of goods being traded for gold/silver in the event of a government collapse? I’d argue there would never be a time gold and silver would be less valuable than when a government collapses. As mentioned earlier in this thread, vodka and bullets are tools for barter in that situation, not gold.
In my best Lost Boys grandpa voice.
That’s the thing I hate about Mobile. All the damn werewolves.
I can give you a short answer about it, but if you're interested it's better that you just spend some time researching it. Google "Why do precious metals have value" and sink into the rabbit hole.
A simple example of how holding reserves in precious metals rather than dollars can be good goes back to the mid 60's when we took the silver out of our coins.
If you had $100 face value of 1965 dimes in 2023, they'd be worth $100.
$100 face value of 1964 dimes is worth about $1,600 for the silver content. It's obvious which was the better store of value.
So you can trade it for dollars? We’ll yeah, if dollars still have some value. I thought we were discussing what ifs for when our country’s economic system collapses. You could trade 1oz for a billion $, but if a $1B isn’t good for more than kindling, so what?
What if you want bullets and the guy next door has bullets and wants vodka, but all you have is beer. No trade can be made.
This conundrum is why mediums of exchange exist. Barter isn't always possible so you need a money of some form. Precious metals are valued as a medium of exchange in every economy but the most rudimentary.
There's a reason our coins contained precious metals for the majority of our country's existence. People expected something other than promises to back their money, because they knew the history of political promises.
You can convert it to other currency if you hightail it out of here when everything collapses.
But point remains like you said- gotta turn it into currency at some point.
By this thinking, the dollar has devalued since 150 years ago it could buy you a lot more than it can now.
So compared to that, something that's held its value is actually increased in value.
Hmm.
Anyways, if the economy has collapsed and I have produce, I don't want silver. 17 that. Or if I'm going to accept it, I want 4# of it for a tomato.
This is what I’m saying. If our govt collapsed, that’s where we’d be. That’s why I’m not understanding how gold will help. It hasn’t in any other govt that collapsed
And also, in the event of a collapse, you gonna trust someone who says that shiny object they have and want to trade is pure silver?
That's simply not true. When governments (and currencies) collapse, people scramble to trade their currency for more stable stores of value. Precious metals are the most obvious.
Vietnamese refugees got to America with extremely thin wafers of gold and silver sewed into the linings of their clothing. It was how they brought some form of value to their new life.
They were at first but over time they either got smaller or were debased with less and less of the precious metals they were supposed to contain.
You're not going to take my suggestion to do your own research are you?
It'll change your understanding. I promise.
Yeah, a neutral agreed upon item that can represent value is helpful in exchanging goods and services.
That's a really basic concept I hope everyone here has known for decades.
Why do I want gold or silver for that neutral item though? One of the usual claims is that there is scarcity, so it couldn't just be devalued by flooding the market with a lot of something like corn kernels or paper plates.
That's true, there is more relative scarcity, but what is the appeal of having those metals?
There is no accepted value for the metals between involved parties, so a cow can be sold for 1oz of gold and then that person be charged 1oz of gold for a can of beans.
We, as well as the developed world, moved away from the gold standard for many reasons. I genuinely can't even imagine how difficult and chaotic trade, banking, and daily errands in general would be if we were tied to gold still.
It's certainly not convenient as a medium of exchange, but it is very effective as a store of value in times of turmoil. I'd look at it that way.
I don't think the USA is going to devolve into a land of Mad Max where only ammo and SPAM have value. I just think people are better than that. And the dollar will collapse and people will freely associate and trade goods with each other in a more or less peaceful society.
Of course, I also buy surplus ammo by the crate.
Of course, I also buy surplus ammo by the crate.
So their government collapsed, and they had precious metals but they had to get out of their country. I easily see how they are valuable in a stable country with stable currency. If your plan is to not barter in the collapsed country, but escape to a stable one, sounds like a great plan.
Might be a great plan for some. But perhaps to your point….its not a viable plan for any residents of the United States. If the US government and financial system collapses, the whole rest of the world is coming down right along with them. There would be no stability to be found.
My point exactly. Would be better to have cows chickens and weapons if ur a doomsdayer
I honestly don't understand the negativity toward holding some precious metals.
It doesn't mean you don't also have ammo, guns, chickens, a basement full of canned food, pallets of sugar and flour, a barn full of hay and composted manure, a storage shed filled with chemical fertilizer, secret underground fuel storage tanks, a sea can full of tools, another sea can full of generators, etc, etc, etc.
It just seems a few tons of precious metals makes some sense, if only to get more generators from the guy who doesn't need your manure.
It doesn't mean you don't also have ammo, guns, chickens, a basement full of canned food, pallets of sugar and flour, a barn full of hay and composted manure, a storage shed filled with chemical fertilizer, secret underground fuel storage tanks, a sea can full of tools, another sea can full of generators, etc, etc, etc.
It just seems a few tons of precious metals makes some sense, if only to get more generators from the guy who doesn't need your manure.
Gold and silver were a common medium of exchange in the reconstruction era when all the confederate money went to zero.
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