I see and hear many people talking about buying as much gold and silver as they can in the event something catastrophic happens in our society. Especially, something like an economic collapse.
As a prepper from a survivalist perspective, I am confused. I can see how that would be beneficial if I were to leave the country by sneaking into Canada and some how get asylum or be take in as a refugee with their strict immigration policies. Or maybe if I go south into Mexico and beyond. In another country I could go to a bank and trade the gold and silver in for the local currency. Outside of that, I don’t understand the use of it unless you can melt it down and make something useful like a spear head or a bullet. I don’t see it being valuable as a trade item in a SHTF scenario. People will want to trade things they can eat and drink. Winter coats, lighters, and blankets would be more valuable I think.
Gold and Silver used to be a form of currency, but our society has changed. When coins were used in the past, society was organized and somewhat stable. Villages and towns were meeting their collective needs. They were self- sufficient for the most part and used an economic system to obtain what they lacked. They could buy and sell. In a SHTF situation, there is a sudden drop in supply and an astronomical increase in demand. People today don’t have the ability to do or think for themselves anymore and so fear and desperation would be the norm. Absolute total chaos would ensue. I don’t see a working economy of any kind in total chaos. I think what we would have is the barter system if anything.
Yet, I see so many people spending every dime they can and “investing” in gold and silver. Am I ignorant about something? If the economy collapses and I DON’T leave the country, how would I use it? Stores would be looted and closed. Gas stations drained, transportation halted, and other forms of commerce would just come to a grinding halt. Banks would close as well. People are not going to go to work so who are you going to do business with? Again, no one can eat it or use it to survive so why would anyone want it?
I have jewelry that currently has value and I would leave it behind because it wouldn’t be valuable anymore. Value is determined by demand. No demand = no value. I am concerned because I seem to be the only one who is not even considering this type of investment. Am I missing something? Is it for later after the recovery or a transition to world currency? That would be the only reason I can think of outside of leaving the country.
Please leave comments for me especially if you are buying silver and gold for SHTF. Thanks for stopping by!
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Gold and silver are for storing wealth until the economy recovers from a crash; not for use during the crash (well, silver dimes, maybe...)
If the Dollar becomes worthless, you have nothing even though you have spent your working life "squirreling away" stacks of hundred dollar bills. You are then worth zero. If you have gold, it will have an equivalency in the new money the government issues to replace the worthless old notes, and that trade equivalency will restore your wealth.
In Venezuela today, the Bolivar is worth less than a sheet of toilet paper. In Germany after WWI, people burned piles of worthless cash because it was worth less than firewood. At the same time, a gold coin would buy a house.
Stacking is a good thing!
Thanks for your comment. I agree, it makes sense for a new currency transition or a move to another country. Hoarding money for most SHTF scenarios I think is pointless for the same reasons I mentioned.
The first thing anyone must learn is to NOT use the dollar as a basis of comparison during a "what if" situation. It is the DOLLAR that fluctuates in purchasing power; not gold! That fluctuation always means taking more dollars to buy the same thing - like food. It's not the food increasing in price, it's the dollar losing its purchasing power.
That really helps in making decisions for an inflationary scenario. Read about what id happening in Venezuela now; a perfect example of money being destroyed.
Thanks again for weighing in 😎 I appreciate it!
Yeah i've been sceptical about buying Gold and Silver. I know of a shopkeeper who fled her country and took all her wealth with her in the form of Jewelry.
I looked into buying Gold Coins, but commission when you buy them and commission when you sell them, you would have to keep them for over 5 years to make a profit. As a security they will hold their value over paper
Cash, but who really knows the value of a gold/silver coin during SHTF? Uses:
Thanks for your comment. So, I am not uninformed. I just see so much of it online that I thought maybe I missed something. Yeah, I don't bother with it, besides if I go...I'm not coming back.
howdy there @squirrelbait! I came over here to watch your video! ha, this is great though. Well it seems like for what you're talking about you wouldn't need it because nothing will ever recover but what if the financial collapse is temporary and you don't need to flee your house or city?
I guess you need to be prepared but both scenarios but if it all totally collapses then I'm with you!
Temporary could still mean bug out for me due to location. Temporary total chaos is still months minimally for a new economic system to be in place. Most people would loose everything and so, again, chaos afterwards. "Recovery" would take years I think. Those with resources (new currency) would need a bunker as the starving masses would see them as a target. I think so anyway. Thanks for stopping by and checking it out. I appreciate it!
I see what you mean and from someone who has studied this stuff I am always enlightened and come away with a clearer picture. that's what you guys need, a bunker! that sounds horrible to me, I mean good to store stuff in but not to live in!
I think bunkers are fancy graves personally. How are people going to get out after stuff falls over the door? Blocks the air vents? I see so many bunker door that open outward like this......
(google images)
Looks like a death trap to me. I could but a heavy boulder on the door, plug the air holes and wait them out. Or just plug the air holes/vents and shoot them as they come out. Death trap.
wow you're mean. hahaha! no i know what you're sayin, it's what people would probably do, you could catch stuff on fire, put it in the air vents and smoke them out.
Now ya got it! I am having an influence on you, LOL!! Yup, good plan! No bunker for me unless it had multiple exits - far apart.
yeah that would turn into a huge project because of the tunnels you'd have to dig and support structure going in them but yeah me too. because I'd want the hidden exits a LONG way from the entrance! we'd end up spending millions on a stupid bunker!
Silver is easier to obtain than gold. I imagine it would be the go to currency after bartering. I like to obtain silver by coin roll hunting. Its free but time consuming.
By the way I am brand new to Steemit. Came over from facebook after the censorship battles. Preparedness and politics are my thing!!!
Hi there @survivecollapse and welcome!!!!!!!!!!!! I just checked out your blog and I really like what I see! I am hitting the follow button. Welcome welcome. Check out @preppervetuk. He's right up your alley. And check out others who leave comments on my channel regularly. I have met some great people here. @richq11 is an author who writes some fantastic stuff (poltical stuff you'll like), @janton is a gentleman from Texas who is friends with everyone and alot of fun, @hippie-witha-gun is a riot, and @goldendawne is a homesteader and so is @pappa-pepper just to name a few. Thanks for finding me and letting me know you are here. 😎
You do have some valid points there. I have some gold and silver and had them for years but not as an investment I like to collect things.
Thanks and thanks for commenting. I've noticed you collect things. Nice things.
Thank you!