…… The benefits of physically owning gold or silver

[hiwall]

No none needs to own PM's but everyone should have some tangible assets, of which PMs are just a common example.

Why to own gold? Just listen to Lynette Zang (she is a gold seller) and she will tell you why. Here is her most current vid and she is really worked up again because she thinks the "end is nigh". And she may be correct.

https://www.youtube.com/watch?v=qFfjMXBniCY
GOLD BREAKS OUT: 2019 Gold Price Shows Crisis Very Near

 

[Racing22]

There's going to be a bunch of people eating cat food and living in refrigerator boxes under the bridge when they find out their shiny coins AREN'T the "insurance policy" they thought they were in a economic meltdown.

 

[Hfcomms]

There's going to be a bunch of people eating cat food and living in refrigerator boxes under the bridge when they find out their shiny coins AREN'T the "insurance policy" they thought they were in a economic meltdown.

Some perhaps but I don't see why so many people think in black and white terms only. Are there not many colors or shades of grey as well? One can have metals as well as preps and I think most educated people that have been around for awhile see that as obvious as the nose on your face. One should get all the tangibles that they think they might need such as the storage food, water, shelter ect. And then if you have remaining wealth left convert those into hard assets with no counter-party risk such as gold and silver. If I was just getting into prepping and only had a few thousand bucks I might get five or ten ounces of silver so at least I had something but I'd put the rest of it into food and other things to sustain life. But for those of us who have been at this for quite awhile and have known for years what is coming it's on us if we don't have our crap squared away in all these areas. Others just coming of age or just becoming aware have an excuse but most of us here don't.

And BTW that is somewhat of a fallacy. People in Venezuela that have gold are eating today or they have been able to escape the country. Even in the Warsaw ghetto under Nazi occupation there was a robust black market and people with hard assets were able to feed themselves. Unless it's totally mad max I don't see why that won't repeat. I can't think of much worse than the Jews under Nazi occupation but there are many stories of Jews that were able to bribe the border guards because they had gold.

 

[coalcracker]

I personally exited gold when I bought a house in a strategic location back in 2015. Did I sell my gold at its high? Absolutely not. I determined at that time, and still believe, that the coming economic reset will result in a cashless system that isn't going to need gold.

Analogy:
I gotta get me a car with a 350 motor for drag racing on the strip. Throughout history, the 350 has kicked a$$ out there. OK, that's true, but have you noticed all those cameras on the strip? Ain't gonna be no drag racing (intentional double negative).

My calculus:
Gold or fiat? Gold wins.
Gold or real estate in safe location? Gold loses.

 

[Millwright]

There's going to be a bunch of people eating cat food and living in refrigerator boxes under the bridge when they find out their shiny coins AREN'T the "insurance policy" they thought they were in a economic meltdown.

I would guess that most anybody with an appreciable amount of gold won't be reduced to bridge life.

People with gold got out of venezuela.

Selco probably addressed this too, as another real world example.

 

[West]

One would have a much better chance of finding work/shelter and food if they was standing on a street corner with a sign....

Will pay in PMs for work, room, and board. And in small print "have gun (a PM) and will shoot you if you try to rob me."

 

[Hfcomms]

I determined at that time, and still believe, that the coming economic reset will result in a cashless system that isn't going to need gold.

I thought long and hard about this as well. That of course is what 'they' want to do for total control but there are some problems with it. The biggest problem is it requires almost flawless infrastructure.

If we just look at the U.S. alone our infrastructure grade is a D plus.
https://www.infrastructurereportcard.org/

Where is all the money going to come from to upgrade the electrical and telecommunications systems that would be required to go cashless? Cities and States are out of money and the Federal Government is running on fumes. I just don't see it being possible to go cashless for a long period of time and certainly not immediately after this reset.

The money simply doesn't exist to do it under this present system and we can't even maintain our roads and bridges let alone cover the nation in 5G which I assume is what they would need for it to work. Perhaps in the future but not in the here and now. I think it's great to have other hard assets as well such as the aforementioned real estate but you know that cash strapped governments are going to hike taxes to the moon so you better at least have some pm's on hand to pay your land rent or you know they will try to take back your property if you can't pay the taxes.

 

[Dennis Olson]

I determined at that time, and still believe, that the coming economic reset will result in a cashless system that isn't going to need gold.

Bull.

I say that because “not needing gold” presupposes that mankind has no greed and/or there would be no need for a black market for anything ever. Further, that the “economic reset” spinning through your head will be painless, and that the supply chain will remain intact during said reset. Since none of those is true, your premise is flawed on its face.

 

[Racing22]

Some perhaps but I don't see why so many people think in black and white terms only. Are there not many colors or shades of grey as well? One can have metals as well as preps and I think most educated people that have been around for awhile see that as obvious as the nose on your face.

There certainly are many shades of grey, but the gold bugs here, as well as the "talking heads" that are quoted regularly by them, only see it as Black and Gold. Period.

They will be spanked, big time, with that thinking trend. When the time comes that you people think you can just cash out your gold for the staples that you need, the zombie hoards will have already eaten you, and good luck finding someone who will trade valuable and scarce resources for your shiny pieces of metal.

 

[Dennis Olson]

It’s obvious that you’re not a true prepper. No one that’s been here any length of time thinks that.

 

[Racing22]

I would guess that most anybody with an appreciable amount of gold won't be reduced to bridge life.

People with gold got out of venezuela.

There's a perfect example of fallacy and not real world reality.

The reality is, anyone who had a appreciable amount of gold, were smart enough and got the hell out of Venezuela long before it took spending their gold to accomplish that. They spent their regional currency to buy their way out.

Thinking because you have a few shiny coins sitting in your safe is your ticket to safety, security and support will guarantee to get you killed. As others mentioned above, if the situation on the ground gives the necessity to unload your gold for cash or other support items, good luck finding someone willing to do that. You might, for maybe pennies on the dollar, for what your shiny coin was worth.

 

[Racing22]

It’s obvious that you’re not a true prepper. No one that’s been here any length of time thinks that.

Go back and read through this thread, the examples are right there.

 

[Troke]

Well, if the FRN system collapses, gold will not be the medium of exchange, it will be cartridges.

 

[hiwall]

if the situation on the ground gives the necessity to unload your gold for cash or other support items, good luck finding someone willing to do that.

Actually if we again look at Venezuela we will find that many people who had some gold/silver did use it to purchase food and other needed items because the cash was totally worthless. I am sure everyone on this site saw the pictures of cash lying in the streets because it had no value.

 

[Quiet Man]

There certainly are many shades of grey, but the gold bugs here, as well as the "talking heads" that are quoted regularly by them, only see it as Black and Gold. Period.

No one that I know of in the community of people that have an understanding of the importance of gold see it as their lone savior. Literally no one. Quite the contrary -- If you understand the 'why' of the import of gold, you also understand the import of food, water, self-defense, self-reliance, etc., etc. And... helping others.

I see the focused talk about gold because so few know about it, and only a tiny fraction of those folks have actually purchased or hold any. It's an effort to inform; to help others protect themselves; to 'share the wealth' if you'll pardon the pun.

 

[Dennis Olson]

Go back and read through this thread, the examples are right there.

Check the join dates of those who believe as you said in your previous post.

 

[Hfcomms]

No one that I know of in the community of people that have an understanding of the importance of gold see it as their lone savior. No one.

That is just it. There are people that think if they have gold and nothing else they will be fine. Just like there are people that think if they have guns and ammo they have all that they need. They figure they will just 'take' from others. I'm a gold bug but if it came down to choose between gold and eats the eats would get my vote. Prepping is full spectrum and a lifestyle and like most things balance is an important key. And the gold commentators that I follow understand and practice this as well. They know this is a lot more complicated and intensive that just having some coins in their safe. BTW welcome to the forum.

 

[Quiet Man]

Prepping is full spectrum and a lifestyle and like most things balance is an important key. And the gold commentators that I follow understand and practice this as well. They know this is a lot more complicated and intensive that just having some coins in their safe. BTW welcome to the forum.

Well said.

Thank you. It is a privilege to be here.

 

[Dosadi]

Hi Guys!

I want to hear your opinions on gold and silver.

Would you consider to invest, why or why not?

Also, the best online bullion dealer youv'e come across.

My favorite online dealer is Bullion Exchanges. https://bullionexchanges.com/

Please let me know in the comments below!

rule number one, if you don't hold it, you don't own it. Imagine needing it and trying to redeem it when all you have is maybe pieces of paper or worse just eletrons on someone else's hard drive.

Secondly, look into "junk silver" (Imagine trying to trade for a loaf of bread and all you have is a tenth ounce gold coin, kinda hard to make change, and ya really need that bread. Much nicer to trade a 90% silver coin in a denomination everyone recognizes <silver dime or quarter> for that bread.)

thirdly, some folk want no electronic or paper records of purchases because of FDR (/spit) forcing people to turn in their gold back in his time. NO record, physical holding of it, and hard to even know what you may or may not have. Thus how you avoid being tied to what you physically hold offers it's own form of security.

****

All that said, IMHO PM"s are primarily a means to send wealth into the future.

Long before you do that, secure what you need to support your life and your family during any extended interruptions of business as usual, be that economic collapse, or what ever.

A can of beans is always a can of beans, one cannot eat PM"s and if you can't arrange a trade the beans are worth more to keeping you alive. Every heard: ya can't eat gold.

Learn what FIFO (first in first out) means, stock up on stuff that matches what you normally use and that you will use up before expiration dates, use what you first got first. Example: lets say your brand of beans has a two year till expiration date on each can. Also lets say you use a can of them a month <just for example purpose>. So if you were to buy 24 cans today, then each month you buy a new can, and eat the oldest can that still hasn't expired. Should things get grubby you have two years worth of those beans eating normally if ya can't replace them. That buys you time to figure out alternatives, and maybe even trade some gold or other things for those alternatives. or work or unwanted items or whatever.

There isn't a simple answer, and what works for one isn't the answer for others necessarily.

But the simple answer in all things is hold tangibles yourself, have grubby times plans for any "what if" you are worried about and try not to depend on systems that may go away without notice. The tangibles you hold (incuding PM's if any) should be things that you use up if they expire and replace regularly.

***

Freebies:

For me and my clan homesteading / farming for all of us has worked since before that tyrant lincoln, and reconstruction. If you know how to provide your own food shelter and water, you are a lot more secure than if you trust in JIT delivery to the grocer.

There are PDF versions of "tappan on survival" that you can find around the internet. Mel tappan used to be a magazine writer and he wrote a book that while much is dated is a decent mindset for establishing a fairly decent plan to build as secure a life as I can think of. ya will need to adapt the general stuff to your specific needs, but it is a good place to turn on the mind juices and work on it. The chapter on firearms shows ya a basic four firearms battery concept if you aim to focus any security around firearms, and I'll say better to have and not need than need and not have with any tool or items.

side: a basic firearms battery

a self defense handgun in a serous caliber along with skills and training and supplies to maintain it.

A .22LR or similar rife and supplies to maintain it

A shotgun (12 gauge most versital and common) and supplies to feed and maintain it

A centerfire rifle in action of your choice capable of shooting and killing what ever you may need to kill in your AO at ranges as far as you may need or want to kill things.

Those four general rules are all you need. Do not skimp on supplies for them (holsters, slings, cleaning, repair and ammunition.

 

[Luddite]

I have in my temporary possession a small gold piece that has been passed down through the family since before the civil war. History has shown that it is a compact, portable means of transferring sweat or property into another form of sweat or property. A few pieces of confederate money floating around here in a drawer somewhere too.

They (my ancestors) had their other needs covered hence the ability to pass those along. My goal is to send that gold-piece and others I have acquired on to the next generations. If times got hard, I'd use them obviously. Wealth insurance after other bases are covered. To rely on my 401k statement alone would be folly.

ETA: We're all temporary.