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Old 09-28-2009, 08:38 AM
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OK, once again,children...........



Quote:
Originally Posted by Scruggs View Post
.....the arguments against metals nearly always quotes ONE scenario, that being the end of civilization. Many of us like to prepare for a number of possibilities, not just one.
The fact that gold is now at it's highest level is not a solid argument against it ever going higher. For gold to go no higher means that the dollar will stabilize at its current purchasing power value. That would be impossible, given the fiscal policies set forth by the Fed.
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Old 09-28-2009, 11:03 AM
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Hey Filthy, is that a Rat Terrier in your avatar? Kinda looks like my Rat.
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Old 09-28-2009, 01:24 PM
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If you don't have any clean water or safe food are you really going to care about gold?
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Old 09-28-2009, 04:09 PM
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Seem that there's two sorts of people that usually answer this question:

Type A (clearly earning 6+ figures income or at least faking it):
"Well, I try to get a couple Gold Eagles every week."

Type B (no savings/retirement/etc. probably a younger poster, since it's tough to be under 50 these days):
"You can never have enough toilet paper."

I'll offer the third response -- it all depends on your situation. If you've got your preps well-stocked, have a fair amount of liquid cash on hand, then what's left over? If I had less than $2-3K, I'd probably buy mostly silver. If I had in the $5K+ range, I'd buy maybe 50% gold and 50% silver. Gold is more difficult to sub-divide with ordinary people, so if you wanted to go on a personal gold standard for day-to-day bartering, silver is probably a better bet. But if you wanted to preserve/transport a large amount of wealth in a small physical space, then gold or platinum are better set for that.

Of course there's a risk, since gold is trading high now. Whether it'll remain high, go higher, or sink is not predictable...
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Old 09-28-2009, 04:25 PM
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1. Buy minimum 3 months can goods and get access to 1 year store of water.
2. Buy / stock 1 year RX and medical supplies.
3. Buy 1 year long term storage food with necessary preperation equipment.
4. Buy long term paper stores.
5. Buy hand tools and emergency equipment.
6. Buy MBR, pistol, shotgun with minimum 1000 rounds of ammo each.
7. Buy 1 - $1000 face bag of junk silver minimum.
8. Buy gold as a hedge against the devaluation of paper money if you have any to spare.
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Old 09-28-2009, 04:57 PM
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IMO, you shouldn't even be thinking about gold and silver until you have plenty of water, food, medical supplies, and ammo. If you do ever get those things stocked to where you're comfortable with them, and think you want to add PMs to your preps, start with silver. The vast majority of trading will be done in silver, rather than gold. Gold trading will be rare because there just won't be that many things of great value being traded. As for how, all of your PMs should be in easily recognizable coins: pre-65 silver coins, American Eagles, Canadian Maple Leafs, Krugerands, etc. Don't go for the bars or simply stamped rounds, because it's unlikely people will have the means to determine if your PMs are real, and won't accept them if they don't feel satisfied they are.

Really, I think of PMs as luxury items in SHTF. They really will do nothing more than make it a bit easier to trade for the things you need, but they will hardly be essential. It may be a bit tougher to find the trades you need to make with just barter, but it will not be impossible. I personally feel that ammo will be much more viable medium of currency than PMs.
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Old 09-28-2009, 05:00 PM
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Quote:
Originally Posted by TxMilitia View Post
gold IMO will be pretty much worthless as well. Heres why i belive so

It holds no value to the common man except as a symbol of wealth

If you and me are starving and you have a pound of gold and i have a can of chicken noodle soup. I would not trade you, the food would be worth more to me than your gold

Invest in bargaining items, items that will be useful post SHTF
since gold was discovered it has been coveted for various reasons. it has always been considered a measure of wealth and when it was made into coinage, a method of exchange...money. its use and desirability within a stockpiling scenario is not as an item of survival but as an item of exchange in the event trade of some sort is required. unless humanity is completely wiped out and there is only one human being left on the planet trade will exist.
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Old 09-28-2009, 05:11 PM
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Quote:
Originally Posted by raglan View Post
Don't do it. I feel really strongly that gold prices will plummet. Put money into concrete preps such as food/water. Don't forget, its what you invest above that really counts.
Actually gold has been holding and showing strong resistance at 990 with rises above `1k, Most believe that we are in store for a large upswing. The dollar is in the toilet and starting to swirl, China is buying gold like crazy and many nations are screaming for a gold backed currency. Try to buy on the dips and hold. Silver is also a really good buy right now. Its at historical lows if you look at the actual gold to silver ratio.

Of course this recommendation comes with the knowledge that other crucial preps are already in place and you have some extra funny money to play around with.

DS
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Old 09-28-2009, 06:13 PM
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Quote:
Originally Posted by infinityshock View Post
since gold was discovered it has been coveted for various reasons. it has always been considered a measure of wealth and when it was made into coinage, a method of exchange...money. its use and desirability within a stockpiling scenario is not as an item of survival but as an item of exchange in the event trade of some sort is required. unless humanity is completely wiped out and there is only one human being left on the planet trade will exist.
I usually read only the first few pages of these "gold as prep" threads because eventually they all revolve arround the same issues and gets redundant.

But I do want to agree with this post 100% I would even go so far to say that the desire for gold/diamonds/gems is almost genetic. For as long as man has been on the planet, these things have held value. After TEOTKWAWKI it will STILL be worth something. If most people do not have food or water, there will be some people that do, and eventually these people will want something more rare in trade for that food or water. Gold/silver/gems will be it again.

It is part of the genetic code. Might be suppresed in some people, but someone will always desire it. That doesnt mean I think people should go out and buy it right now as a prep, but count me in with the "it will always be worth something" crowd.
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Old 09-28-2009, 06:27 PM
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Quote:
Originally Posted by raglan View Post
If you don't have any clean water or safe food are you really going to care about gold?
Raglan,OK, now I'm thinking you're just being obtuse,on purpose, no one can genuinely be this stupid. Numerous members here have repeatedly stated, and then repeatedly stated again........and AGAIN..........that no one should waste money on gold/silver unless they first have their basic preps covered, yeah, like "clean water and safe food." Duh. Yet in thread after thread, you purposely ignore these statements and jump back in with this mantra about gold being a stupid,useless waste of money.
Scrugg's expalnation above spelled this out very accurately and clearly, for the umpteenth time, yet you bounce back in wth yet another of your signature troll-like remarks.
You don't like gold? Great, don't buy any, but STFU.
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Old 09-28-2009, 08:31 PM
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Quote:
Originally Posted by infinityshock View Post
since gold was discovered it has been coveted for various reasons. it has always been considered a measure of wealth and when it was made into coinage, a method of exchange...money. its use and desirability within a stockpiling scenario is not as an item of survival but as an item of exchange in the event trade of some sort is required. unless humanity is completely wiped out and there is only one human being left on the planet trade will exist.
yes trade will exist but i do not belive symbols of wealth will be what is traded

If say i need shoes and you need food well shoot, tell ya what if you got an extra pair of shoes ill trade you for a few quarts of my food...or some of my livestock

however if all you want is gold i am reminded of king midas
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Old 09-28-2009, 10:41 PM
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that issue was resolved a few thousand years ago with the invention of money. its slightly more complicated than the simplistic explanation you gave. human nature and its interest in wealth hasnt changed in a few thousand years of human history and i dont see it changing any time soon.

diamonds will be borderline worthless in any capacity other than as an industrial abrasive once the cartel controlling diamond distribution ceases to exist.
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Old 09-28-2009, 10:56 PM
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This thread seems to repeat itself every couple months. From my studies in anthropology & history, I can assure people that human societies far, far, poorer than ours -- most all of which would be considered subsistence-survival examples -- nonetheless traded in symbolic wealth, gold, etc. It would be foolish to imagine a scenario that brings us back to the Neolithic, a pre-gold time. Bronze, iron, copper, etc. will be readily available, as workable scrap if nothing else, so my educated guess is that we'll never be in a position such that gold/silver aren't in demand.

The 64 million dollar question is whether you trade in (dollars for PM's) at a good or poor point in the cycle. Really hard to say right now. But my gut says we're not out of this financial mess yet, not by a long shot.
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