Economy collapsed, to have your gold, now how do you spend it?
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Old 01-25-2011, 01:48 AM   #1
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Default Economy collapsed, you have your gold, now how do you spend it?

I'm sure the title says it all. Say you have an ounce of gold & need to use it, how? Would you barter it? Would you trade it for silver rounds?

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Old 01-25-2011, 05:22 AM   #2
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While (IMHO) gold may be attractive as a highly portable alternate medium of exchange, it is awkward to divide in small amounts. US silver coins (dimes, quarters, halves, and silver dollars) are a touch bulkier, but I think I could trade in silver easier than gold. You might not have an spare grand or two to put into gold, but silver dollars (non rare coin types) are about $21-$22 each.

And while you cannot EAT gold or silver, when a neighbor has a surplus of one item, and is looking for a medium of exhange, that may be it.

But I also invest in copper. Tubing. And while I would never violate any US laws on the illicit production of alcohol, there times you may need to distill......water. Yeah, that's it- water. Yeah.... that's the ticket- WATER.

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Old 01-25-2011, 05:42 AM   #3
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With an economy that has collasped, I am not sure how you barter with stuff that has monetary value. If you can find folk solvent enough and smart enough to take the shavings of gold in trade for actual perishable goods, then frequent that store often.

Lead on the other hand could possibly get you into the White House in that scenario.

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Old 01-25-2011, 01:26 PM   #4
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Good question. IMO stuff like food, ammo, guns, fuel, and other "gear" type items would be more valuable than gold. Harder to store, yes. But who is gonna wanna part with gear/stuff you need for gold? Might be hard to find those who would.

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Old 01-25-2011, 01:46 PM   #5
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...but silver dollars (non rare coin types) are about $21-$22 each.
I wish. That price is long gone, probably 6 months ago.

===============================================

OP, If you honestly believe that we will reach TEOTWAWKI then yes, silver and gold is not a good investment in that case. However, what is the most likely SHTF scenario that we will encounter in our lifetime?

I think third world countries are living most of it right now. Civil war, martial law, coup de etat, monetary collapse, earthquake, tsunami, volcanic eruption, flood, typhoon/hurricane, drought, famine, epidemic/pandemic, etc. In all of these, food and water is the most important supply, depending on which one next maybe medicine, guns, or precious metal. JMHO.

Believe it or not, I lived and survived all of these (except civil war & pandemic)...not once did the civilians needed guns and life goes on...harder but it goes on and you would wish you have Silver and Gold stashed away.

In case I am not clear...you can easily sell gold and silver easily even in most SHTF scenario.
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Old 01-25-2011, 02:09 PM   #6
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Would you barter it? Would you trade it for silver rounds?
No, this is why I already have silver.

I don't plan on bartering any of my gear either. That's why I'm a toilet paper hoarder. Just saying, think about it.
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Old 01-25-2011, 04:18 PM   #7
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I plan on having enough grain, hops and dry yeast to brew 100 gallons of beer, just in case!!

Nothing trades like alcohol, ammo, cigarettes and yes Troy; toilet paper!

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Old 01-25-2011, 04:24 PM   #8
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In case I am not clear...you can easily sell gold and silver easily even in most SHTF scenario.
Poink -- who was accepting silver/gold in those situations you lived through and was also not accepting cash? Were they hard to find?
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Old 01-25-2011, 04:35 PM   #9
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Poink -- who was accepting silver/gold in those situations you lived through and was also not accepting cash? Were they hard to find?
In all of those, none collapsed the community/society...as I said, life went on. People are more resilient than some may think.

Commodity prices went up and some took advantage (supply and demand) but currency is still in full effect. Silver and gold price goes up with the commodities and is a good buffer to keep your wealth's "value".

What really surprises me is the extreme preparation that some go to. If the 3rd world country can survive it now...why can't the Americans? Yes, TEOTWAWKI can come but honestly, if it does, it is probably best if you die quickly. JMHO.
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Old 01-25-2011, 05:23 PM   #10
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Name ONE country whose economy collapsed that doesn't accept gold or silver now. Their money might have lost value but their gold and silver did not. Even during war, gold and silver is probably your best bet.

I hope more people will live and enjoy their life now (responsibly)...than wasting it planning for the apocalypse that most likely will never come (in our lifetime).

I am into guns for the fun of it and protection (most likely from a burglar). I have no illusions of fighting off zombies, LEOs, Feds, Martians, etc.

Nice to get/have new cool toys when I have extra cash though.

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