Originally Posted by Black Blade
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.