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Thread: After WTSHTF - Precious Metals for the Rebuilding

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    GuncoHolic Black Blade's Avatar
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    Default After WTSHTF - Precious Metals for the Rebuilding

    I was fortunate enough to work as a contract geologist for several mining companies in Nevada. They typically give out silver and gold as rewards for safety and attendence to employees. Of course miners would sell to me at spot for "beer money" before the wife found out. I was buying around the late 1990s to early 2000s and have since quintupled my money. I sold some and recovered my cost basis and am keeping the rest as "portfolio insurnace" as the US dollar slips into oblivion in a blizzard of TARP and Stimulus printing at the Fed. We are likely to experience a new Great Depression imo or hyper-inflation (Wiemar-Style perhaps). So my precious metals are for the rebuilding that comes after other investments in stocks and bonds are blown away and the crisis has past. The precious metals are just one element of the entire overall prep-survival strategy (that includes being debt-free, arable land, multi-year stors of nonperishable food and basic necessities, ammo and firearms).





    When you're born you get a ticket to the freak show. When you're born in America , you get a front row seat. - George Carlin


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    Gunco Irregular TRX's Avatar
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    I always thought wire was more sensible for metal barter. You can clip off bits to make change, coil it up for easy carrying, or make cute wireframe art out of it.

    Unless you're dealing with trusted coinage, you're going to weigh it out anyway.

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    BANNED FyredUp's Avatar
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    If there is a total economic collapse what is the guarantee that gold or silver will be worth anything at all? Frankly, if the monetary system is completely gone you couldn't buy 5 pounds of potatoes from me for less than 5 pounds of gold, or 10 pounds of silver.

    I can't eat the gold or silver, can't heat my house with it, or gather or hunt food with it. Unless the person(s) you wish to do business with feel it has value it will not be as valuable as trading food, clothing or ammunition to get what you need.

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    Gunco Veteran patjsimpson's Avatar
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    I think bullets will be the precious metals of the future ;-)

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    GuncoHolic Black Blade's Avatar
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    Quote Originally Posted by FyredUp View Post
    If there is a total economic collapse what is the guarantee that gold or silver will be worth anything at all? Frankly, if the monetary system is completely gone you couldn't buy 5 pounds of potatoes from me for less than 5 pounds of gold, or 10 pounds of silver.

    I can't eat the gold or silver, can't heat my house with it, or gather or hunt food with it. Unless the person(s) you wish to do business with feel it has value it will not be as valuable as trading food, clothing or ammunition to get what you need.
    I don't intend to eat silver or gold - would defeat the purpose. Precious metals are for other purposes as we should already be prepared in other areas. But if you want to eat silver and gold, then be my guest. We know that people have used precious metals when currencies have collapsed. In the past we have seen people use precious metals to buy real estate during times of economic distress (i.e. Weimar Republic, Indonesia and Thailand - Asia Contagion, etc.).

    As for food this is the reason we stockpile a multi-year supply of nonperishable food and basic necessities. This is also why we remain debt-free and never take out loans. This is why we stockpile a lifetime of firearms and ammunition (in my case perhaps a couple lifetimes worth). This is why we buy fertile rural land. Some people just don't get the point of preparation. Obviously the use of silver and gold as the ultimate money through 6,000 years of human history hasn't and won't likely ever change.

    I have often found that those who complain and criticize those who stockpile precious metals, food, goods, guns, ammo, etc. usually are those who haven't made any preps or taken any precautions. Many count on the government to save them (anyone remember Katrina?). Preparation and survival is a multi-faceted approach of taking precautions in all areas of existence (including financial).

    On a side note, I made enough on silver and gold that I sold some bullion to further finance the purphase of a new truck (GMC Sierra), additional stockpiles of non-perishable foods, firearms and ammo. I have quintupled my money in the last decade and still have silver and gold as part of my investment portfolio. Anyone think that the US dollar will increase in purchasing power? Especially now as the Federal Reserve is creating $Trillions out of thin air? When the banks finally decide to release that money into the market place we will likely see an inflation tsunami.
    When you're born you get a ticket to the freak show. When you're born in America , you get a front row seat. - George Carlin


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    BANNED FyredUp's Avatar
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    Quote Originally Posted by Black Blade View Post
    I don't intend to eat silver or gold - would defeat the purpose. Precious metals are for other purposes as we should already be prepared in other areas. But if you want to eat silver and gold, then be my guest. We know that people have used precious metals when currencies have collapsed. In the past we have seen people use precious metals to buy real estate during times of economic distress (i.e. Weimar Republic, Indonesia and Thailand - Asia Contagion, etc.).

    Yes, what you are saying is true. Assuming all things hold as they have in the past your plan may be fantastic. Now add to that the fact that in the past people were far more neighborly. My parents, and grandparents, told me story upon story of how neighbors helped neighbors during the Great Depression. No stories of neighbors guarding their food with Thompson sub machine guns (entirely legal to own in 1929 by the way), no stories of people being turned away, helping each other. Not this is mine and get out or I will kill you with my military styled rifle and milions of rounds of ammunition.

    As for food this is the reason we stockpile a multi-year supply of nonperishable food and basic necessities. This is also why we remain debt-free and never take out loans. This is why we stockpile a lifetime of firearms and ammunition (in my case perhaps a couple lifetimes worth). This is why we buy fertile rural land. Some people just don't get the point of preparation. Obviously the use of silver and gold as the ultimate money through 6,000 years of human history hasn't and won't likely ever change.

    And the reality of the situation is not everyone is independently wealthy and can afford a main house and 2 bug out houses. All three stockpiled with a lifetime of food, and more guns and ammo than the national guard.. It is wonderful that you can, but even if I had the money I wouldn't do that. You see what seems perfectly logical to you seems almost insane to me. Don't worry, I know you think I am ill prepared, not paying attention and totally wrong. That's fine. Time will tell which one of us was right.

    I have often found that those who complain and criticize those who stockpile precious metals, food, goods, guns, ammo, etc. usually are those who haven't made any preps or taken any precautions. Many count on the government to save them (anyone remember Katrina?). Preparation and survival is a multi-faceted approach of taking precautions in all areas of existence (including financial).

    I am not whining, complaining, or criticising. I asked a simple straight forward question and you have become completely defensive in your trying to justify your prepping. I never attacked your plan. I never said you were wrong. I said from my perspective all the money you have spent would seem insane to me. But hey if it makes you happy, keeps you warm at night, and lets you sleep worry free it is 100% cool with me. I don't begrudge you the right to spend you money as you wish.

    By the way I never said I didn't have any precious metals. I have some old silver coins. I do not have any gold. I do not plan in the foreseeable future buying any gold.

    On a side note, I made enough on silver and gold that I sold some bullion to further finance the purphase of a new truck (GMC Sierra), additional stockpiles of non-perishable foods, firearms and ammo. I have quintupled my money in the last decade and still have silver and gold as part of my investment portfolio. Anyone think that the US dollar will increase in purchasing power? Especially now as the Federal Reserve is creating $Trillions out of thin air? When the banks finally decide to release that money into the market place we will likely see an inflation tsunami.

    I think it is fantastic that you had an inside track to getting gold and silver at far less than market value. Either through incentives at work or through direct purchase from miners. Again, I don't begrudge you your good fortune. the point is however I would bet not a single other person on this forum had that same opportunity. So while it came easy for you, you can't say that it did for many others. But then again such is the way of life.

    Seriously though, if I had the roughly $1300 per ounce that gold goes for I would not buy gold. I would buy food, or a rifle or 2 and some ammunition, or maybe another generator, or some more propane. something more tangible for me. I don't expect you to agree, or even understand my thought process. But that's okay, as far as I know this is still mostly a free country.
    Take care and lets hope we never have to use our prep stuff at all.

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    Gunco Maniac sjohnson's Avatar
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    You don't have to buy precious metals at far below market price to make it pay.

    I used to be in the mining industry. Even worked at the Homestake Gold Mine in Lead, SD.

    I had no "insider" knowledge, just an interest in the gold market. I took a $10k inheritance and the interest and turned that $10k into $60k in the course of a year and a half. It was an opportune time, shortly after Nixon took us off the gold standard and the international market went nuts over gold. I sold a bit short as I sold gold bought at $125 and $140/troy ounce at about $700, gold peaked at the time at around $765. Wish I'd have played just a bit longer.

    I had one friend who lost his marriage by selling/mortgaging/borrowing every last penny he could to play the same market. Lost his marriage (wife frightened about losing her "security") but is now independently wealthy. We both saw the boom coming.

    I don't call the Great Depression in the U.S. enough of a SHTF scenario for gold or silver to really be worth it, try post-WWI Germany or Cambodia in the '70's to see where precious metals really shine as the ultimate hedge. Or, being a Jew in Nazi Germany. Diamonds worked there, but for pennies on the dollar. Still, it beat the alternative.
    I have a daughter. I tell her, "911 is what you dial after you're raped. 1911 is what you should have before they try."

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    Always sore, always tired Bradrock's Avatar
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    I prefer having the skills & knowhow to find my own. Heh.......Heh.....

    " Save a tree...........Eat A Beaver!"

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    Scheiße. Mr_Posthumous's Avatar
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    Holy pigshit batman. I miss going out into the woods and hiking up a stream and panning. then shooting some grouse and cookin it over a fire. good old days.

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    Gunco Member mija's Avatar
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    I ran across an old American Rifleman the other day. I had filled out an order form for silver but not sent it in. It was 12$ an oz. then (7-8) years past. It is now 22-26$. Wish i had sent the form then. When our economy functions silver is valued at 1/16 the price of gold. Using this standard that has generally worked for the history of the US, silver should be in the general price range of 83-92$ an ounce now. At this time silver is very under priced and the opportunity for financial gain is great. Granted it will take some time for things to settle out. Black Blade has his assets diversified, money and staples. No matter how small the investment it is a virtually gain situation guaranteed.

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