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 Replies: 101 / Views: 11,059 |
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Pillar of the Community
United States
808 Posts |
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...you could buy a lot more with dollars now than you could with that same amount of gold or silver after its happened. I suppose if disaster preparedness were ever perfect and you could be certain that you would really have everything you'd ever need, then I just might consider skipping PMs and just sit pretty on my personal cornucopia of stuff. Then again, stuff gets lost, breaks down, gets destroyed. Pretty much the stuff that goes on as life happens. Seems like even the best prepared could use a little insurance after things blow up, and that to me would be a handy stack of silver and gold. |
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Moderator
  United States
6563 Posts |
For those offering history as a source of information, I have to disagree. Our dependence on technology and our ignorance of everything else (farming, hunting, etc.) is what separates us from our ancestors. Also the fact that when we look at disasters of old we see the big picture without seeing the immediate ramifications. In modern times it will only take a week for people with large stashes of silver to die of starvation because they shop at Whole Foods once a day and have no food in their house. Yes PM's will eventually become a source of trading. As mentioned in the show Revolution it was 15 years later and there was a well established barter system. It's the first couple of months with no governmental assistance that worries me. Sidenote: I had to stop watching the show. I'm a gun guy and there were too many mistakes and "oh come on that's dumb" moments for me  |
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Bedrock of the Community
13014 Posts |
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Seems like even the best prepared could use a little insurance after things blow up, and that to me would be a handy stack of silver and gold.
Silver Id agree with gold not so much. But thats the thing those of us saying its overrated in such an instance arent saying dont have any (some is good) its that a lot of people seem to think having a massive stack will get them through it which isn't the case. doesn't hurt to have some but more than that if the sole reason is prepping for SHTF is a waste of money unless you live in a missle silo in the middle of no where and can easily have it stored. I still maintain gold isn't good though with the current prices of it. The post disaster return would be higher for the amount of silver you could buy for the price of one gold coin or a gun or ammo ect. Its just too expensive right now Quote:
Our dependence on technology and our ignorance of everything else (farming, hunting, etc.) is what separates us from our ancestors. |
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Pillar of the Community
United States
808 Posts |
Quote:
For those offering history as a source of information, I have to disagree. Our dependence on technology and our ignorance of everything else (farming, hunting, etc.) is what separates us from our ancestors. Our modern day dependence upon technology is only a stones throw of difference away from any overdependence on privilege from the past. It doesn't seem so far away from the waning days of Rome, and the collapse of the Western Empire. Of course, instead of Visigoths we have another febal government doing battle with it's own untenable economic and monetary policy. Unfortunately, the end result will likely be the same. |
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Bedrock of the Community
13014 Posts |
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Our modern day dependence upon technology is only a stones throw of difference away from any overdependence on privilege from the past. Its a lot further than a stones throw. A small percentage of the population relied on that treatment in the old days. Even if you want to say all romans did that still meant all the salves were capable of doing those tasks. In todays society no one is really able to do those tasks due to technological dependence. Just try and spend a saturday without using any electricity or electronic, you cant and get anything done. Thats all the stuff that would be gone. Even most farmers now rely heavily on machines. The only people who would be unaffected are the Amish and theyd actually be quite prepared. Technology has just changed far too much in the last 20 year much less last 1400 years. |
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Pillar of the Community
United States
863 Posts |
Except the amiss wont be able to defend them selves.
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Pillar of the Community
United States
4008 Posts |
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I had to stop watching the show. I'm a gun guy and there were too many mistakes and "oh come on that's dumb" moments for me I know the feeling, GO. I love good science fiction movies and TV shows but, as a scientist, it is difficult for me to endure most of them because they are so blatantly impossible. Good sci-fi takes what is known to be true and extends that into the realm of the unknown but possible, not the realm of the known to be impossible. One show in particular was on the Sci-Fi channel some months back. The people in the show were getting solar EMP'd and they would look up in the sky and yell, "Here it comes!"... and there would be a vsible rippling of the background as a "wave" of energy rippled past them. LOL! EMP is not visible and moves at the speed of light. We will never see it coming any more than we can see radio waves.  Edited by Ed_B
10/16/2012 6:59 pm
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Pillar of the Community
United States
1227 Posts |
You know what I've stocked up on for the inevitable?
A bicycle and the ability to ride for several miles without getting tired.
When the crisis hits, the people who will be hurting will be the ones too fat and lazy to get anywhere without their precious SUVs to take them. I can ride all day and cover some good ground. I have living skills--cooking, planting food, gutting birds and fish--from living in the country that I can trade in exchange for food, shelter, and transportation across the desert to get somewhere that I can grow and catch my own food.
PMs might be helpful to some, but I'll take my legs, my wheels, and my skills.
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Pillar of the Community
United States
802 Posts |
Nina... don't you think if someone saw you riding your bike... it wouldn't be yours for long? There will be no law, so you'll be on your own. The only way to keep that bike yours is if you have a gun :)
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Valued Member
United States
362 Posts |
I really do see it as a hedge against inflation. I have a decent bit of silver and gold (as for as my standard goes) Probably a little more than 100 ounces of silver and a couple ounces of gold. Most of my stuffs in the stock market. I like diversifying and spreading everything around. I DONT think the economy will completely collapse, and I DONT think there is going to be an Apocalypse.
Just me though! Who knows?
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New Member
United States
29 Posts |
Even if society completely broke down, there'd still be an economy. People are going to trade with each other; they always have. In that scenario you're going to need some sort of medium of exchange. The barter system is inefficient.
No one knows the future, that's why I always keep my assets diversified.
Precious metals, cash, stocks, corporate bonds, real estate, guns, ammo and food are all part of my portfolio.
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Pillar of the Community
United States
4008 Posts |
Good plan, John. Diversification is one of only 2 good deals that the small guys ever get, so it's best to make good use of it. Sounds to me like you have, although debt of any kind does not seem good to me. The world is awash in debt and it is getting to the point where one MUST wonder whether or not it will ever be paid off. Besides, interest rates are WAY more likely to rise than fall from here and when they do, bond holders will get creamed. Other than that, I agree with your financial position.
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New Member
United States
29 Posts |
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although debt of any kind does not seem good to me. The world is awash in debt and it is getting to the point where one MUST wonder whether or not it will ever be paid off. Besides, interest rates are WAY more likely to rise than fall from here and when they do, bond holders will get creamed. Other than that, I agree with your financial position. Notice I said corporate bonds; not government bonds. Despite the world economy being a wreck, there is still great companies out there in strong financial positions that pay reasonable rates on borrowed money. It's a lot better than earning <1% on money in a savings account while Bernanke runs the printing press. I agree that interest rates are more likely to rise from here on out, but there's no guarantee of that. They've been saying the same thing in Japan for the last 30 years, and rates keep falling. So anything can happen, which is why I like to hold a variety of different assets. If the world falls apart, my stocks/bonds/cash will become worthless, but I have to hold onto them in case the world DOESN'T fall apart. |
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Pillar of the Community
United States
1227 Posts |
Wrestling--they'd have to catch me first, now wouldn't they?
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Pillar of the Community
United States
4008 Posts |
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Notice I said corporate bonds; not government bonds. Yes, I noticed that but fail to see what difference it will make if the US Treasury bond market implodes, which it might. It is so large that it will not only totally trash the US dollar but it will also collapse the US government. At that stage, with what will companies pay you interest on those bonds? Quote:
It's a lot better than earning <1% on money in a savings account while Bernanke runs the printing press. Yes, it is... for now. Bernanke may be a lot more temporary than he thinks. In that case, we could see a considerable slowing in the run-away printing press. Quote:
I agree that interest rates are more likely to rise from here on out, but there's no guarantee of that. One could say, and with considerable evidence to support it, that the only real guarantees are death and taxes, so looking for other guarantees may not be worth the effort. Most investors know this, so instead look for ways to shave the odds a bit in their favor. Diversification and dollar cost averaging are the two best ways of doing that, IMO. |
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Posted 10/12/2012 11:22 pm
