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Proud to be an American
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Have any of you considered buying gold and silver as a hedge against inflation?
IMO, we cannot keep printing money and spending like we can afford it! I'm not talking about investing to make a profit but buying a physical asset that retains its value regardless of what the dollar does. The value of gold remains quire stable the fluctuations in the market have to do with the value of the dollar not the value of the gold.

I'm curious if anybody else is concerned about the possible collapse of the $ US ?
 

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If the US dollar collapses, the world's economy's collapses.....world wide depression including and especially China but they don't care about their people like any communist country. For your gold or silver to be worth anything, what would buy it that's worth anything? I'm not an authority on that (and neither is anyone else don't kid yourself) but those questions come to mind. Guns and ammo might be the best things to own...partially kidding.

Why is Biden so adamant about the $1.9 Trillion "COVID" rescue? Why is Yellen for it so much? Answer: The "money" that would be put into the economy would buy time for the next downturn. It is coming, just how bad. Hate to say it but Obama had more discipline that the communists do now. Don't kid yourself on that either. Socialism has never worked anywhere. Communism does work, right now everywhere it is in place.

The best book on economics is the simplest one: "How an Economy Grows and Why it Crashes"....Peter Fisch.

No AOC, allegedly an economics major, didn't read it. She hasn't read anything apparently.
 

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Proud to be an American
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Discussion Starter #3
I think you are right about the guns and ammo, unfortunately this would be a lousy time to start! When the Soviet Bloc collapsed I had opportunity to speak with a few gentleman who had lived through it. I recall asking them "once your currency was worth nothing what had value"? In the Soviet Bloc it was Vodka, guns & ammo and food and water. In other words commodities you know like toilet paper and sanitizer.

I'm still interested in putting a few bucks into precious metals however.
 

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I have just started buying some pre -65 silver coins. Most people know what they are,90% silver, $1.40= one troy ounce.
If all you have is one ounce bars, A) how do people know it's silver. I have some pewter I could cast into the same size bars and I couldn't tell the difference.
And B) how you going to make change? You need 25 rd of .22 ammo, you have a one ounce silver bar, guess what they cost.
So I recently bought a few dimes, next time I get into town I'll probably buy a few more.
If I had Old Rons $ I'd buy a metric crap-ton!
 

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Discussion Starter #5
I just bought some silver rounds at my age I'm not interested in collector value and rounds are a way to buy more silver cheaper.
A silver dollar has a legal tender value of $1.00 so I'm more interested in bouillon at this point.
 

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Funny this topic came up here .
I have been buying & selling for many years . ( not a lot like freefall but some ) :p
I started buying when gold was $35 an oz. & silver $3 .
Like all markets it is controlled . To make money you have to watch it close . To make any money at it .
In 1980 when I was in Iran a wise old Jewish man gave me advice & I have lived by that ever since . Paper money will rise & fall ....... people will always need to trade for goods & services . You need to always have a diverse portfolio . If you had 12 hours on a Sunday to pack up & get out of town ..... what could you take to start a new life someplace else ?
Gold is high right now & to me not a good time to buy . That said I just bought 3 .20 oz. of gold . I didn't pay cash for it ...... I traded . Silver went way high so I traded it for gold .
This by no means is advice for anyone to do ....... just what a old guy in wonderland has done for many years .:) There is more but I don't like to bore people . :p ....... the picture is not to brag it is to show it is not internet BS .:)
gold.JPG
 

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Gold is an excellent investment. Buy low, sell high. i've dabbled in gold since about 1974, by 1980 the gold that cost me about $50 per ounce sold for nearly $600 per ounce.

Recently sold gold that cost $1,100 per ounce.
 

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While gold and silver can be great investment tools, if the U.S. economy crashes, more than likely the rest of the world's economy will crash also.
So who would determine exactly what gold and silver would actually be worth?
When it comes to gold and silver coins, they would only be worth their face value. So if you paid more for the coins than what the face value is, then you have really made a bad investment!

How are you going to get change if all you have are gold or silver bars? It's not like the 1800's when everyone carried a bag of gold dust on their person to buy and sell goods with.
 

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Gold and Silver is a traded commodity with prices that fluctuate similar to the stock market so you have to know when to buy and when to sell. Back in Jan 1980 gold hit a price of almost $2280 an ounce. So buy and hold is not a good idea as a hedge against inflation in my opinion.
 

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I've thought about gold and silver over the years and just chose not to invest, especially as a hedge against our fiat currency for many of the same reasons stated. If our currency collapses (which I believe is the goal of the most powerful globalists) everything we know will change and I think it will be bad; real bad for average people. In that scenario, should it occur, lead and associated items will be in demand the most. Gold and Silver, imo, should be viewed in the context of any investment...buy it low, sell it high and convert it to our fiat currency when it makes sense.
 

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We have a disgusting but crafty old fellow hereabouts who haunts garage sales, flea markets, and auctions buying gold and silver jewelry from unknowiong sellers. He is not a nice person. Unfortunately, not long ago he made it a point to invite himself to our table as a friend and I ate lunch. (sorry for the long post, setting the stage)

Self-educated in the basics of determining what "karat?" of the gold item he's looking at, he gloated over several of his latest finds and produced three baggies from his coat pocket - silver, gold, and coins. "People are stupid, don't know what they've got, and I make lots of money off'n them" was his message. He's also a known fence which is why, I think, he melts some things down.

I suppose some consider this type "smart" and see no problem since the sellers agreed to the transactions. Watching widows being cheated by this guy angers me personally.
 

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Silver melt is USA coinage. Pre 65 is 90% silver and is recognized all over the country. Dimes, quarters and halves are the best buy. Silver dollars are at a premium. You need small denominations or as mentioned above you will pay too much. A good hedge in runaway inflation. However if there is a total collapse they will be nearly worthless. They will gain value only if things settle down and communities form. Think about it. If you are starving are you going to loot a jewelry store or a grocery store? Guns, ammunition, food, water, meds, fuel, booze and sundry small items will be in high demand and will be the most valuable barter currency. In a total collapse you can look for a very low survival rate. Those that don't have will be searching out those who do have and it will get bloody. If you can survive 1 year there wont be nearly as many people and a very different world. At our age we will be a prime target. I don't expect we will survive very long. I know a lot of people that wont survive more than a few months as they are med dependent.
If you live in a major city the gangs will take over. They are armed, organized and have no conscience. There will be tribal warfare as each gang seeks to dominate. Counter groups will form probably ex military. Just another gang but with a "Higher Purpose". Welcome to the New World Order.
 

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If there is a collapse the only thing I will accept for payment is gold silver or trade for something I need. Around the world many currencies have failed yet silver and gold still had value. I buy .999 silver dollars when their price is down.
 

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Silver melt is USA coinage. Pre 65 is 90% silver and is recognized all over the country. Dimes, quarters and halves are the best buy. Silver dollars are at a premium. You need small denominations or as mentioned above you will pay too much. A good hedge in runaway inflation. However if there is a total collapse they will be nearly worthless. They will gain value only if things settle down and communities form. Think about it. If you are starving are you going to loot a jewelry store or a grocery store? Guns, ammunition, food, water, meds, fuel, booze and sundry small items will be in high demand and will be the most valuable barter currency. In a total collapse you can look for a very low survival rate. Those that don't have will be searching out those who do have and it will get bloody. If you can survive 1 year there wont be nearly as many people and a very different world. At our age we will be a prime target. I don't expect we will survive very long. I know a lot of people that wont survive more than a few months as they are med dependent.
If you live in a major city the gangs will take over. They are armed, organized and have no conscience. There will be tribal warfare as each gang seeks to dominate. Counter groups will form probably ex military. Just another gang but with a "Higher Purpose". Welcome to the New World Order.
Just a bit of a side note ....... weigh 10 silver dimes ....... weigh 1 silver dollar . Dollar is heavier .
Also for trade reasons gold & silver can be broken up & is still gold & silver to trade with . Countries & currencys can & do fall apart but others don't . Money is just a handy way to trade for goods & services . If the paper is not backed by things other countries recognize as value ...... the paper is worthless . Our money is no longer backed by gold or silver . All the paper money we have printed with not enough gold or silver to back it up would scare you . At some point the dollar will no longer be the world currency . China has already tried to bump us off that . If we collapse it will effect others but nothing like it will do to us .
In the past other countries didn't recolonize our paper money ....... we used gold & silver trade dollars . They recolonized the metal not the shape .
Interesting thing to look up & now it is a lot easier to do .
 

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Heh. When I visited the bank in general business class, the bank pres told us that pre-65 a $1000 bag of silver coins weighed the same. Quaters, dimes, dollars, no matter.
Maybe somebody sold you some pewter dollars,Ron!
 

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For my money, lead is a better investment. Also alcohol and other medicinal items. Things that have long self lives and a useful purpose.
 

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All investments are hopeing that they will be worth more to someone else when you trade them . You only invest money you don't need at a given time & hope it will buy you more when you need it . We do trades every day . It has worked for a long time & will continue long past us .
 

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Silver and Gold are long term protection against inflation. There has been some noise that gold's true value is around 10k per ounce. However, price has been so manipulated in the last 20 years, nobody knows what true price discovery will be. I've tended to buy 1 oz silver, but a friend has been buying smaller coins, his point is if currency collapses, who's going to make change for 1 oz gold coin
 

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Silver and Gold are long term protection against inflation. There has been some noise that gold's true value is around 10k per ounce. However, price has been so manipulated in the last 20 years, nobody knows what true price discovery will be. I've tended to buy 1 oz silver, but a friend has been buying smaller coins, his point is if currency collapses, who's going to make change for 1 oz gold coin
In the photo I posted the small coins are 1/10 oz. :)
 
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