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 Replies: 27 / Views: 8,501 |
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Pillar of the Community
Australia
3831 Posts |
You can't really survive on bullions or cash alone. What's important is that you need to network as well as certificates / credientials to show that you are capable of doing all sorts of works to ensure that you have a job well into retirement age. You can always stash away some cash / bullion for emergency purposes but unless you have a fair amount stashed away when you lose your job, you always need to have a job to keep you going.
I'll rather invest in education and ensure that I keep in contact with important people. I'm sure you can afford a few cups of coffee once in a while to keep your network in check. I'm sure just one ounce of silver can get you a few cups of coffee AND you get interesting conversations / knowledge from others.
Currency backed by precious metal is very unlikely happen - there's just too much cost associated with maintaining such vault. A bank cannot earn interest by having hoards of gold in their vault and instead lose more money from security, insurance etc.
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Bedrock of the Community
Australia
21788 Posts |
After World economic collapse, Bitcoins will reign supreme  |
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Bedrock of the Community
Australia
21788 Posts |
If everybody is going to panic, it is best to have it organized professionally.   I would recommend the leading managers in the current World banking system. |
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Pillar of the Community
United States
3079 Posts |
Guns and ammo will be worth more than all the gold and silver let alone collectors coins and bullion! Don't forget that even the members of this forum have a hard time deciding if something is "REAL" or fake. So the General public will be at a loss. Most store owners and people in general don't have a clue about the current price of PM's. Let alone how will they take a piece of your gold coin. There will be no more numismatics in the sense that we know it. You will be more worried on how you will get your medications. Since the drug Zombies will hit the corner drug stores first and take and then destroy anything left. You will be better off stock piling useful items copper wire on spools, hardware, batteries, shovels,etc. Things people can really use. If the collapse is as bad as you describe, it probably will not make much a difference if you are sitting on a ton as soon as word would get out after the first trade. every slug would be at your place, in an eye blink! and some would have bigger fire power than yours. I get people really upset, when I ask where are you going to go with your "GO Bag", as there really isn't a place to go. And if you have a bunker in the boonies, Don't you think that if and when you get there a local will already be living in your place! I don't remember if this was posted or not http://washingtonexaminer.com/be-pr...icle/2541205This quote is from a guy on a reloading forum I am a member of. Quote:
I was in Argentina 1999-2000. Total and complete economic collapse. No cops anywhere. Sporadic electricity and water etc. Gangs roaming the streets. Army patrolled only the rich neighborhoods. Everybody else was on their own. I had British "security" also known as mercenaries. Serious gentlemen.
Life went on. Kids went to school and people went to work.
Barter was king. Everything was barter. I was working for a British company at the time...all the contractors wanted was American dollars....or food/liquor/medicine.
I will tell you gold wasn't worth nothing.....people did not know if it was real or not. Guns and bullets would get you whatever you wanted. So I do not hoard nor invest in Gold nor Silver. I have seen it's value on the streets after a collapse. Worthless. Bullets/guns.....priceless.
That $99 Chinese T53 bolt action at JG sales today....in a total economic collapse with surplus 7.62X54R will get you gasoline and food.
International Monetary Fund did the Argentines in. Now if it is a zombie apocalypse here you go
*** Image with inappropriate text removed by the staff! *** When the ammo runs out you can use it as a battle axe!   |
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Pillar of the Community
United States
3789 Posts |
the idea of economic collapse is a silly one. So I am not going to waste my time at all addressing it because it wont and isn't going to happen.
But I do want to highlight what works and what leads up to panic and fear and market crashes briefly.
One of the first weak components to a another financial panic will be as has always happened each time, it will happen in the banks. When you the financial start to rattle, shake and roll, the fear and panic is spreading. It spreads to all banks, everywhere.
Credit spreads go crazy. One way to monitor this everyday is by watching the TED spreads. Very simple to follow and use and you can compare it to historical points where it has gone into crisis mode.
The way to prepare for this sort of financial panic is-
1- buying US dollars
2- buying the US long bond
3- selling short markets
gold would be the last and farthest vehicle on my list.
All these panics and the crisis points all start the same.
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Valued Member
 United States
78 Posts |
All you guys are so wrong, besides that nobody answered any of my questions, your facts and theories are wrong. I'm not here to argue on politics and economy, also I am NOT here to teach history, this argument can take days , so I will just stick with educating myself on the numismatics.
You guys are in for one big surprise
PS. I am NOT a doomsday prepper
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Pillar of the Community
Canada
2805 Posts |
Quote:
besides that nobody answered any of my questions Quote:
All you guys are so wrong [...] I'm not here to argue on politics and economy, also I am NOT here to teach history Can you smell the irony? |
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Pillar of the Community
United States
3789 Posts |
George-
look, I am sorry but your supposed scenario makes me laugh. You are talking about something that isn't going to happen, its silly. It is no different from me saying "hey guys, whats the sound of one hand clapping?".
Finally, we came out of the most hardest economic panics man has seen. There will be no surprise for me when it hits again, I will be profiting and adding zeros to my bank account and at a very rapid pace because I love it when things crash, you really make money twice if not three times as fast.
and guess what... in fear and panic, in a meltdown, numismatics will not hold their value and certainly bullion wont. Gonna clue you in on something- when there is fear and panic, everything goes down. This past event we had, real estate went down, commodities such as corn, wheat, soybeans went down, prices for Ag land tanked, high end art tanked, Sothebys was reeling, and the higher it was in worth, the lower it went.
I went on vacation in 09 while everyone was fretting and still smashed. I could, at a moments notice and no need to get on a waiting list, book a weekend on Peeble Beach for a weekend with meals for only 500 bucks. You know that place was empty, before things crashed it cost 1500 for a weekend and the waiting list was crazy.
So no matter what you think, fear, panic, a meltdown, all that did happen and it could have been worse. You can all get on your hands and knees and thank the world's centrals banks who stepped in and restored order. Without out them, we would not be in recovery mode and buying coins for our collections.
Thats why USD and the US long bond are the only place to park your money when the next meltdown happens.
So again, in a panic and fear, nothing will be spared, and for sure bullion and numismatic coins will not be safe havens.
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Pillar of the Community
Canada
815 Posts |
Steel and lead make more sense as stores against catastrophic collapse. Or, you know, liquor.
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Valued Member
United States
69 Posts |
Very interesting conversation. In my opinion nothing will happen, but then again, who knows, nothing is written in stone.
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Pillar of the Community
Australia
852 Posts |
yup7676
How do you KNOW there won't be an economic collapse?
A quadrillion dollars in promises are out there and if (when) the market takes a hit there is no guarantee that a crisis like 2008 will again be averted. Only takes contagion to take hold and all bets are off.
Who will get their contracts met when Comex has 114 calls on each ounce of silver?
The day EBT cards stop working expect the Rodney King riots x 100.
How healthy is the US economy? or Europe, or Turkey or China or...
A similar big problem with oil. China is now the worlds biggest importer and their credit is better than Americas. Only takes a small disruption in supply to see oil over $300. Back in 73-74 the OPEC shenanigans quadrupled oil prices in a year, caused queues at petrol stations, rationing, odds and evens (remember that) and stagflation. The embargo only required world oil production to fall 5%. Peak oil will do that and then keep on doing that.
Chuck in Obamacare being a drag on the economy, debt ceilings, the SS fund running close to max, munis risking default, bank leverage, sky high PE ratios and everything is just hunky dory (not).
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Moderator
 United States
23522 Posts |
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Replies: 27 / Views: 8,501 |
First Page
Posted 01/04/2014 06:38 am
