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1/22/2020 12:12:56 PM
Posted: 9/28/2007 9:17:42 PM EST

Damn, 2 years ago gold was at $340.00 an oz. ???
Step up and double your money.

The signs were/are all there.

Devaluing of the US dollar.
China allowing public purchase.
War.


It has been good.

Where will gold top out at??????//

1200
1400
???????????

ju­nk

Link Posted: 9/29/2007 3:08:46 AM EST
[Last Edit: 9/29/2007 3:10:59 AM EST by die-tryin]
So why would you title this thread "Dont buy Gold"?

Silver/Gold have been direct indicators of the US economy, the US dollar goes down, gold/silver goes up. nothing new. Been that way for since the depression and b4.

Buying Gold/Silver does not devalue the US money. The world economy is what does it. More and more ppl are going to the Euro. THe US dollar isnt strong any more. Even Canada exchange rate is 1:1 now. THe US dollar is back by promises, like an IOU. Gold/SILver are worldly traded and will always have value, even in some shit 3rd world country, they know what gold/silver mean. US money is jus paper to some.
Link Posted: 9/29/2007 3:11:16 AM EST

Originally Posted By die-tryin:
So why would you title this thread "Dont buy Gold"?

Silver/Gold have been direct indicators of the US economy, the US dollar goes down, gold/silver goes up. nothing new. Been that way for since the depression and b4.


sell high, buy low
Link Posted: 9/29/2007 4:15:58 AM EST

Originally Posted By die-tryin:
So why would you title this thread "Dont buy Gold"?

Silver/Gold have been direct indicators of the US economy, the US dollar goes down, gold/silver goes up. nothing new. Been that way for since the depression and b4.

Buying Gold/Silver does not devalue the US money. The world economy is what does it. More and more ppl are going to the Euro. THe US dollar isnt strong any more. Even Canada exchange rate is 1:1 now. THe US dollar is back by promises, like an IOU. Gold/SILver are worldly traded and will always have value, even in some shit 3rd world country, they know what gold/silver mean. US money is jus paper to some.


Usually when the US economy goes up, the prices of PM go down. This year when the economy was climbing, that wasn't the case. odd.
Link Posted: 9/29/2007 4:28:37 AM EST

Originally Posted By shastacles:

Originally Posted By die-tryin:
So why would you title this thread "Dont buy Gold"?

Silver/Gold have been direct indicators of the US economy, the US dollar goes down, gold/silver goes up. nothing new. Been that way for since the depression and b4.

Buying Gold/Silver does not devalue the US money. The world economy is what does it. More and more ppl are going to the Euro. THe US dollar isnt strong any more. Even Canada exchange rate is 1:1 now. THe US dollar is back by promises, like an IOU. Gold/SILver are worldly traded and will always have value, even in some shit 3rd world country, they know what gold/silver mean. US money is jus paper to some.


Usually when the US economy goes up, the prices of PM go down. This year when the economy was climbing, that wasn't the case. odd.


Not really, it's called undue interference by the goverment and excess printing of US paper dollars.
Link Posted: 9/29/2007 4:59:17 AM EST
[Last Edit: 9/29/2007 5:01:08 AM EST by stormwalker]
I think the OP is lamenting on him not following the advise of others to get into the PM market.

those of us that did have more than doubled our money in 2 years.

BUY LOW, SELL HIGH. we just haven't seen the "high" yet.

and glod is "asset protection" not profit making.

basicly gold holds the value of your dollar, not increasing it.

or the OP has a bassackwards way of saying he's proud of his getting in on the market early.

he's not a very good interweb poster.
Link Posted: 9/29/2007 7:18:25 AM EST
[Last Edit: 9/29/2007 7:19:42 AM EST by JoshAR]
Also note the PM market right now is on it's yearly up climb. Holiday sales around the glob push the demand for Gold up. Typicaly we'll see a drop in late Feb/Mar.

Note 2, gold just came off a big drop was down below $645.00 mid Aug.

My prediction was gold at 800 at years end and silver 17 with plat at 1400. We'll see how close I was back in Mar in a couple of months.

All the gold and silver I have was bought pre $450.00 and pre $10 lvl, not that I don't want to buy more I would have LOVED to in Aug just haven't had funds.

Me? I wouldn't buy anything unless it's a silver coin for a Christmas present untill the yearly drop next year.
Link Posted: 9/29/2007 3:39:02 PM EST
i try to buy on the dips. i dont really see gold going back to 200 an ounce unless the FED is abolished or some sort of faith is restored in the dollar. i buy gold to make a statement, because i value freedom. i buy it for an inflation hedge, i dont really buy it to turn around and sell it for paper money when the price 'rises' (rather the dollar falls)
Link Posted: 9/29/2007 4:05:49 PM EST
The title was ment with heavy sarcasm.

I didn't think it would be that hard to figure out after reading the post.

Link Posted: 9/29/2007 4:32:33 PM EST

Originally Posted By thefederalfarmer:
i try to buy on the dips. i dont really see gold going back to 200 an ounce unless the FED is abolished or some sort of faith is restored in the dollar. i buy gold to make a statement, because i value freedom. i buy it for an inflation hedge, i dont really buy it to turn around and sell it for paper money when the price 'rises' (rather the dollar falls)


Good point indeed. You've touched on what [is so obvious] but people still don't get.
Gold and PMs in general are not there to be traded like stocks and turn a quick profit(like that is really even poss anymore).
It's all about protecting your paper money in a tangible asset that YOU hold in your hand and that YOU control at all times. It's not on paper, not in some computer, and not subject to the forces of a market crash or what not. As you said, it's also about freedom and - THAT is freedom.
Most folks don't want the responsibility of securing a tangible asset, which is why they'll tell you that gold is a poor investment with small returns, usually just regurgitating what they hear the talking heads blabber on TV 24/7 or their own "investment/financial counselor". They miss the whole point of it.
Link Posted: 9/29/2007 4:38:44 PM EST
Ammo is also a precious metal..
Link Posted: 9/29/2007 4:56:03 PM EST
it should keep going up but not steadily,as gov destroys more things of value and the dollar pays for it then gold should climb..
Link Posted: 9/29/2007 5:11:52 PM EST

Originally Posted By JaxxKat:
Ammo is also a precious metal..


Good call.

Try killing a deer (or anything else) with a Krugerrand.
Link Posted: 9/29/2007 5:24:16 PM EST
+1

its good to stock up on all precious metals... gold, guns, silver, etc.
Link Posted: 9/29/2007 5:26:53 PM EST

Originally Posted By JaxxKat:
Ammo is also a precious metal..


you've got that right, considering the way copper prices have been going recently
Link Posted: 9/29/2007 6:55:36 PM EST
So, are people buying silver bulion (sp?), pre '64 coins or what? I am new to this but want to start buying REAL money. Where should I start?

JP_Diver
Link Posted: 9/29/2007 7:08:03 PM EST

Originally Posted By JP_Diver:
So, are people buying silver bulion (sp?), pre '64 coins or what? I am new to this but want to start buying REAL money. Where should I start?

JP_Diver


Being a poor bastard who can't afford gold, I buy American Silver Eagles. They are 1 ounce of silver, and are also legal tender, meaning that it's against the law to counterfeit them. I could get no name silver rounds for a little cheaper, but the Eagles are sort of gauranteed to be real. Not sure if it will make that big a difference if SHTF, but what the hey.

www.ajpm.com is where I get mine. But I deal with them in person, directly.
Link Posted: 9/29/2007 7:24:01 PM EST

Originally Posted By JP_Diver:
So, are people buying silver bulion (sp?), pre '64 coins or what? I am new to this but want to start buying REAL money. Where should I start?

JP_Diver


I bought a couple hundred dollars of pre '65 quarters from a guy who had an ad in the local paper.

He was actually selling the silver for less than the going rate.

I'd watch your local papers for silver for sale. That way you won't pay shipping costs and you should get a better deal going through a private party than going through a business.
Link Posted: 9/29/2007 7:55:18 PM EST

Originally Posted By IndianJoe:

Originally Posted By JaxxKat:
Ammo is also a precious metal..


Good call.

Try killing a deer (or anything else) with a Krugerrand.


Yeah but there may come a time when gettin the ammo will be with that krugerrand, eagle, etc.
When it all falls apart (economically), it will be government-backed gold & silver that rules the day.
If you already got 1000s of ammo too, then you're even better off. Way ahead of the game.
Link Posted: 9/29/2007 11:26:39 PM EST

Originally Posted By JP_Diver:
So, are people buying silver bullion (sp?), pre '64 coins or what? I am new to this but want to start buying REAL money. Where should I start?

JP_Diver


Buying the pre-silver coin or "junk silver" is good enough to start. You can get it close to "spot" (what ever the market price for an ounce is at the time) and you can buy it in small amounts.

1 oz Silver Rounds at my local coin place are 70 cents above spot, or 50 cents if you buy in bulk. Silver Eagles are $2.50 above spot for the same amount of silver. You do the math. One is minted by the government, both are .9999% pure silver.

"If" I was going to buy silver, I'd buy the silver rounds and junk silver to start off with. Buy some Silver Eagles every once in awhile when you were going to buy a silver round and you didn't buy a coffee for the day and you can afford the extra $1.75.



Link Posted: 9/30/2007 4:10:43 AM EST

Originally Posted By M4C:
it will be government-backed gold & silver that rules the day


what exactly is "government-backed gold & silver" ???

ar-jedi
Link Posted: 9/30/2007 4:43:07 AM EST
i think he is referring to a system like the pre federal reserve dollar. where it is merely a note that you can exchange for gold or silver.
Link Posted: 9/30/2007 5:13:21 AM EST

Originally Posted By thefederalfarmer:
i think he is referring to a system like the pre federal reserve dollar. where it is merely a note that you can exchange for gold or silver.


That is how it use to be. with Silver Certificates, but not any more. Todays US money is based on the strength of it, nothing more. IF the rest of the world feels teh US dollar isnt worth anything, than it wont be. That is the scarey part. That is what CHina or whomever is threatening to do. DUmp the US dollar and itll sink like the titanic.
Link Posted: 9/30/2007 8:56:54 AM EST
The title is right. With gold where it is now, you really shouldn't buy. It's possible that you could still make a killing, but there is a whole lot more risk then there was 2 years ago, or pre-9/11. Think about all the folks that bought precious metal back in the 1980s and got ripped royal for 20years when the stuff wasn't worth squat.
Link Posted: 9/30/2007 9:07:23 AM EST
Now would be an excellent time to sell short on gold.
Link Posted: 9/30/2007 9:18:46 AM EST
FOr those that say to buy or to sell. Its simply a gamble, jus like anything. NOW may be the time to buy/sell, we dont know. The US dollar isnt growing in populatriy with the rest of the world, the EURO is. More and more ppl are Against the US now and days. IMO, putting money into gold/silver is as good a time as any. While I watch it pretty good, its hard to know when the right time is. I bailed out of some silver when it was almost 15bux an ounce. I did well. cuz I bought it at 6bux an ounce. But I also moved some of my junk silver around into other silver. I jus got some Silver Eagles. with silver eagles youve always got a value, it may be jus one dollar but it has some value. We have plenty of discussions on this topic. There will be a right time and wrong time for silver. Right now its all fun and games. Come a SHTF, itll be the precious metals guns, ammo and canned goods that will be the primo thing to own. my .02
Link Posted: 9/30/2007 10:20:03 AM EST
[Last Edit: 9/30/2007 10:21:25 AM EST by jwise]
I REALLY like the tangible aspect of Gold (PM in general.) In just a localized SHTF scenario, local banks won't be open and my accounts may be suspended for whatever reason. Hell, just a VERY localized SHTF event, localized to JUST ME could cause my accounts to be frozen (ID theft, etc...)

I can open the safe, grab a few Krugs and go turn them into cash needed to buy groceries, clothes, fuel, or whatever I happened to need at the moment.

I heard story after story of Katrina evacuees who were not "poor," but were completely dependent on the gov't for aid. Their problem wasn't "wealth," but "cash flow." They had no cash in their pockets when the storm hit (probably bought a bunch of supplies right before) and when the flooding hit, they had to evac. Their banks were closed, and when they relocated they didn't have transportation to get to a local branch, or they banked at a local credit union or something. In other words, they had no tangible, mobile, wealth.

I have several thousand dollars worth of PM in my safe, for nothing more than insurance against becoming "cash poor." I COULD just keep several thousand dollars of US Currency in the safe, but that takes up a LOT of room comparatively, and only insures me against one kind of SHTF event.

I agree with most here, I'm not buying right now, but rather looking to sell off some if the price goes a little higher. Mostly to "move around" some of my less valuable silver and smaller coins.
Link Posted: 9/30/2007 11:30:13 AM EST
I don't understand people who won't have and don't carry cash.

A friend of mine got a shoe shine in a fancy downtown DC hotel once and tried to hand the shine guy his Visa. The guy looked at him like he was crazy. I had to spot him a ten.

Another time, he, his wife and I went to a company Xmas party and on the way back home I had to drive around for 30 minutes looking for a bank that would take their ATM card because between the two of them, they couldn't scratch up $50 to pay the babysitter.

My father used to call it "walking around money."

How else are you going to grease or tip somebody?
How many deals will you pass up because you don't have cash on your person to throw at it?
What will you do in a SHTF situation when the power is out and the banks are closed?


Colonel Hurtz
Link Posted: 9/30/2007 11:35:57 AM EST
When the SHTF your gold won't buy you food and goods when people are more concerned about RIGHT NOW and the food that is on the table versus what the gold will be worth when the economy picks back up...

I'd rather invest in Bullets then gold... One bullet will get you a Meal... or anything else you want that someone has besides bullets have doubled in price in the past few years... same with Mags and other firearm related goods... and if they economey collapses and the SHTF the Fire arms goods serve dual purposes...

Gold requires you to barter...

Bullets are a simple equation...

1 Bullet + 1 trigger Squeeze= (Put anything you want here)
Link Posted: 9/30/2007 12:32:30 PM EST

Originally Posted By jwise:
I can open the safe, grab a few Krugs and go turn them into cash needed to buy groceries, clothes, fuel, or whatever I happened to need at the moment.


have you actually tried doing this?

i mean, going to the Walmart, Shell station, or supermarket and paying them with a Krugerand?

i thought not.

or is your plan to go to the local coin dealer to do the exchange? approximately how many people do you think the local guy has cash for? i'd estimate 7. after that you are SOL, only you are SOL with Krugerands in your pocket rather than food.

ar-jedi

Link Posted: 9/30/2007 12:35:31 PM EST

Originally Posted By C-S:
When the SHTF your gold won't buy you food and goods when people are more concerned about RIGHT NOW and the food that is on the table versus what the gold will be worth when the economy picks back up...

I'd rather invest in Bullets then gold... One bullet will get you a Meal... or anything else you want that someone has besides bullets have doubled in price in the past few years... same with Mags and other firearm related goods... and if they economey collapses and the SHTF the Fire arms goods serve dual purposes...

Gold requires you to barter...

Bullets are a simple equation...

1 Bullet + 1 trigger Squeeze= (Put anything you want here)


congratulations, you just borked up this thread with a CoC violation.
happy trails, and we hope your ARFCOM timeout is lengthy.

IBTL.

ps:
keep in mind that prepared folks, i.e. the one's with the supplies you are gunning for, are generally prepared exactly for idiots like you.

ar-jedi

Link Posted: 9/30/2007 12:54:56 PM EST
[Last Edit: 9/30/2007 12:55:10 PM EST by die-tryin]

Originally Posted By C-S:
When the SHTF your gold won't buy you food and goods when people are more concerned about RIGHT NOW and the food that is on the table versus what the gold will be worth when the economy picks back up...

I'd rather invest in Bullets then gold... One bullet will get you a Meal... or anything else you want that someone has besides bullets have doubled in price in the past few years... same with Mags and other firearm related goods... and if they economey collapses and the SHTF the Fire arms goods serve dual purposes...

Gold requires you to barter...

Bullets are a simple equation...

1 Bullet + 1 trigger Squeeze= (Put anything you want here)


YOU are the exact reason we train and prepare. Good to know where you stand atleast.

Now go back to GD. This place is for serious minded ppl that would rather plan and prepare than think they can jus take what they want.

YOu simply dont have a place here. The Door is THAT WAY ----------------------->
Link Posted: 9/30/2007 12:58:31 PM EST

Originally Posted By C-S:
When the SHTF your gold won't buy you food and goods when people are more concerned about RIGHT NOW and the food that is on the table versus what the gold will be worth when the economy picks back up...

I'd rather invest in Bullets then gold... One bullet will get you a Meal... or anything else you want that someone has besides bullets have doubled in price in the past few years... same with Mags and other firearm related goods... and if they economey collapses and the SHTF the Fire arms goods serve dual purposes...

Gold requires you to barter...

Bullets are a simple equation...

1 Bullet + 1 trigger Squeeze= (Put anything you want here)


Trying to take things away from armed people will put you in a very bad place. Worse than the ban that is coming your way.
Link Posted: 9/30/2007 1:12:58 PM EST
Don't buy gold, buy more ammo.
Link Posted: 9/30/2007 2:03:58 PM EST
in a SHTF, i believe cash will initially be king. it would take time for people to figure out gold and silver. money isnt money unless you can exchange it for other goods. that is what makes it 'currency.'

some of the people who say buy more ammo thinking they can trade but say dont buy gold are probably cutting themselves short. who really knows that ammo will be king any more than gold will be?

these reasons is why i keep and keeping adding to my stocks of cash, silver, gold, guns, ammo, food, fuel, vehicles, fencing, meds, and other assorted gear. i try to keep well rounded to maximize my chances of being prepared for anything i might encounter.
Link Posted: 9/30/2007 2:37:20 PM EST

Originally Posted By HS-LD:

Originally Posted By JP_Diver:
So, are people buying silver bulion (sp?), pre '64 coins or what? I am new to this but want to start buying REAL money. Where should I start?

JP_Diver


Being a poor bastard who can't afford gold, I buy American Silver Eagles. They are 1 ounce of silver, and are also legal tender, meaning that it's against the law to counterfeit them. I could get no name silver rounds for a little cheaper, but the Eagles are sort of gauranteed to be real. Not sure if it will make that big a difference if SHTF, but what the hey.

www.ajpm.com is where I get mine. But I deal with them in person, directly.



Thanks for the heads up on ajpm. I wasn't aware they were in the downtown Portland area.
Link Posted: 9/30/2007 2:49:03 PM EST
[Last Edit: 9/30/2007 2:56:41 PM EST by M4C]

Originally Posted By thefederalfarmer:
in a SHTF, i believe cash will initially be king. it would take time for people to figure out gold and silver. money isnt money unless you can exchange it for other goods. that is what makes it 'currency.'

some of the people who say buy more ammo thinking they can trade but say dont buy gold are probably cutting themselves short. who really knows that ammo will be king any more than gold will be?

these reasons is why i keep and keeping adding to my stocks of cash, silver, gold, guns, ammo, food, fuel, vehicles, fencing, meds, and other assorted gear. i try to keep well rounded to maximize my chances of being prepared for anything i might encounter.


BIG +1

People that continue to deny the eventual "pricelessness' of GOLD and other PMs as supreme hard currency potential should read more history and economic collapses of nations [ex. Argentina].

When paper currency is in a downward out-of-control spiral and devalued on a daily basis, life will be hell for those that rely on it with no other backup means. They place themselves literally at the mercy of callous currency manipulators and govts.
As one latest example, it is happening right now in Zimbabwe, READ UP ON IT[Google]
I don't understand how so many are so skeptical that the total collapse of the American dollar can happen!
Denial is a bitch - convenient before the fact, but a real bitch when you finally wake up in the shit pile.

Oh, 1 bullet = 1 meal? He really meant it that way?
Idiot. First in line for a post-SHTF Darwin Award.

Cash? Yes!
Food? Yes
Water, Meds, etc? Yes
BOB, BOV, BOL? Yes
Guns n' Ammo? Yes!
Misc. Etc. Etc.? Yes
Gold... for when everything else fails and/or as a backup to everything else? YES!!

He who has the gold....________________________
Link Posted: 9/30/2007 2:59:42 PM EST

Originally Posted By ar-jedi:

Originally Posted By C-S:
When the SHTF your gold won't buy you food and goods when people are more concerned about RIGHT NOW and the food that is on the table versus what the gold will be worth when the economy picks back up...

I'd rather invest in Bullets then gold... One bullet will get you a Meal... or anything else you want that someone has besides bullets have doubled in price in the past few years... same with Mags and other firearm related goods... and if they economey collapses and the SHTF the Fire arms goods serve dual purposes...

Gold requires you to barter...

Bullets are a simple equation...

1 Bullet + 1 trigger Squeeze= (Put anything you want here)


congratulations, you just borked up this thread with a CoC violation.
happy trails, and we hope your ARFCOM timeout is lengthy.

IBTL.

ps:
keep in mind that prepared folks, i.e. the one's with the supplies you are gunning for, are generally prepared exactly for idiots like you.

ar-jedi




What he said +1. Your 60% of what we prep for.
Link Posted: 9/30/2007 3:04:22 PM EST
Just a non-shtf Gold example. I actualy did just grab 2 coins out of the safe and cash them in then buy a gun. Got a good deal on a rifle I wanted and didn't have the cash, so I yanked two onces of gold out and cashed them in. It took 20 min on my way to the bank for a check to send out. I "made" a few hundred on the coins in doing so to.

SHTF, that aint gona happen. Using your credit card or check aint either. Cash on hand helps.
Link Posted: 9/30/2007 4:31:54 PM EST
As the value of the dollar falls assets priced in dollars will rise. It also works in reverse.
Link Posted: 9/30/2007 4:33:48 PM EST

Originally Posted By dragongoddess:
As the value of the dollar falls assets priced in dollars will rise. It also works in reverse.


Not in this lifetime it wont. While you are correct. The dollar will never gain the power it once had. The feds are "faking" the dollars power by printing more of it. This is just a temp. situation. Eventually itll catch up and backfire.
Link Posted: 9/30/2007 4:38:25 PM EST

Originally Posted By neonnoodle:

Originally Posted By HS-LD:

Originally Posted By JP_Diver:
So, are people buying silver bulion (sp?), pre '64 coins or what? I am new to this but want to start buying REAL money. Where should I start?

JP_Diver


Being a poor bastard who can't afford gold, I buy American Silver Eagles. They are 1 ounce of silver, and are also legal tender, meaning that it's against the law to counterfeit them. I could get no name silver rounds for a little cheaper, but the Eagles are sort of gauranteed to be real. Not sure if it will make that big a difference if SHTF, but what the hey.

www.ajpm.com is where I get mine. But I deal with them in person, directly.



Thanks for the heads up on ajpm. I wasn't aware they were in the downtown Portland area.


Sure thing. I've been dealing with them for years. The old man was friendlier, the kid has an attitude, check the price on the website first and go in and verify the price first. Bring cash, and the receipt is made out to cash.

Right over the Morrison bridge almost on the corner os first or second, downtown. They keep short hours, like 10:00 - 3:00 or something, better check the website on that too.
Link Posted: 9/30/2007 4:45:56 PM EST

Originally Posted By C-S:
When the SHTF your gold won't buy you food and goods when people are more concerned about RIGHT NOW and the food that is on the table versus what the gold will be worth when the economy picks back up...

I'd rather invest in Bullets then gold... One bullet will get you a Meal... or anything else you want that someone has besides bullets have doubled in price in the past few years... same with Mags and other firearm related goods... and if they economey collapses and the SHTF the Fire arms goods serve dual purposes...

Gold requires you to barter...

Bullets are a simple equation...

1 Bullet + 1 trigger Squeeze= (Put anything you want here)



What everyone else said and:

1 bullet will get you a meal? Doesn't that depend on who you try to get that meal from? Better not be most of the people on this board.

I know at my house 1 bullet will get you about 50 bullets returned to you at high velocity...

However, should you come around to my house in a SHTF situation and ASK NICELY, I'll GIVE you a meal for free, I've got plenty. Prove you're trustworthy and you might be asked to stay on in exchange for food and shelter, should you need it.

I suggest you read "Patriots" by John Wesley Rawles and try to get an idea of the "WHY" you're trying to stay alive in the first place.
Link Posted: 10/3/2007 8:17:06 AM EST
I've been splitting between silver coins and ammo. No gold reserves.

Am buying land though.
Link Posted: 10/3/2007 8:42:57 AM EST

Originally Posted By WiseguyThreeOne:
I've been splitting between silver coins and ammo. No gold reserves.

Am buying land though.


The problem with land for SHTF is, the .GOV can always take it from you.

And it is difficult to lose in a boating accident.

Link Posted: 10/3/2007 8:54:51 AM EST

Originally Posted By ar-jedi:

Originally Posted By jwise:
I can open the safe, grab a few Krugs and go turn them into cash needed to buy groceries, clothes, fuel, or whatever I happened to need at the moment.


have you actually tried doing this?

i mean, going to the Walmart, Shell station, or supermarket and paying them with a Krugerand?

i thought not.

or is your plan to go to the local coin dealer to do the exchange? approximately how many people do you think the local guy has cash for? i'd estimate 7. after that you are SOL, only you are SOL with Krugerands in your pocket rather than food.

ar-jedi



Please read for context. I was talking about either a localized SHTF or a personal SHTF event, not TEOTWAWKI.

For example, a family evacuated Houston in the face of a major hurricane. They came to Dallas and are staying at a hotel, expecting to return to Houston in a couple days. Their house ends up getting completely destroyed and all their possessions are now strewn about the neighborhood and destroyed/looted. They have a few bucks in the bank, but that gets used up pretty quickly staying in a hotel, and their reserve accounts take a few weeks to liquidate and get a check cut to them. They can bring a few coins to the local exchanges in Dallas and get cash for their assets, allowing them to pay for the "groceries, clothes, fuel, or whatever [they] happened to need at the moment."

No SHTF event in Dallas, only Houston, so it wouldn't be an issue getting coins converted.

My other example was a localized to ME event. MY accounts get frozen for whatever reason (ID theft, etc...) and I need cash! I've got a little cash in the safe, but I would be able to "open the safe, grab a few Krugs and go turn them into cash needed to buy groceries, clothes, fuel, or whatever I happened to need at the moment."

I prepare for a LOT of scenarios that are not "global killers."
Link Posted: 10/3/2007 9:27:40 AM EST
If Au is not so handy, durable and desireable as a way to transport wealth, then why do they still mint the Tola?



It is cast with rounded edges so you can stick it up your ass when you bug out.
Try that with an AR mag. or a can of Dinty Moore beef stew.


Colonel Hurtz


Link Posted: 10/3/2007 10:36:59 AM EST

Originally Posted By jwise:

Originally Posted By ar-jedi:

Originally Posted By jwise:
I can open the safe, grab a few Krugs and go turn them into cash needed to buy groceries, clothes, fuel, or whatever I happened to need at the moment.


have you actually tried doing this?

i mean, going to the Walmart, Shell station, or supermarket and paying them with a Krugerand?

i thought not.

or is your plan to go to the local coin dealer to do the exchange? approximately how many people do you think the local guy has cash for? i'd estimate 7. after that you are SOL, only you are SOL with Krugerands in your pocket rather than food.

ar-jedi



Please read for context. I was talking about either a localized SHTF or a personal SHTF event, not TEOTWAWKI.

For example, a family evacuated Houston in the face of a major hurricane. They came to Dallas and are staying at a hotel, expecting to return to Houston in a couple days. Their house ends up getting completely destroyed and all their possessions are now strewn about the neighborhood and destroyed/looted. They have a few bucks in the bank, but that gets used up pretty quickly staying in a hotel, and their reserve accounts take a few weeks to liquidate and get a check cut to them. They can bring a few coins to the local exchanges in Dallas and get cash for their assets, allowing them to pay for the "groceries, clothes, fuel, or whatever [they] happened to need at the moment."

No SHTF event in Dallas, only Houston, so it wouldn't be an issue getting coins converted.

My other example was a localized to ME event. MY accounts get frozen for whatever reason (ID theft, etc...) and I need cash! I've got a little cash in the safe, but I would be able to "open the safe, grab a few Krugs and go turn them into cash needed to buy groceries, clothes, fuel, or whatever I happened to need at the moment."

I prepare for a LOT of scenarios that are not "global killers."


I can see what ar-jedi is saying, yes you may have a mint in gold/silver, but there has to be someone that wants them bad enuff to trade you their goods for them. I think in the beginning of SHTF, there will be greedy ppl that will sell their shirt for some gold/silver, but once money per se becomes useless , itll be up to SKILLED Labor thatll do the bidding. I have silver but not a bunch, jus some to offset cash.
Link Posted: 10/8/2007 3:24:44 PM EST

Originally Posted By die-tryin:

I can see what ar-jedi is saying, yes you may have a mint in gold/silver, but there has to be someone that wants them bad enuff to trade you their goods for them. I think in the beginning of SHTF, there will be greedy ppl that will sell their shirt for some gold/silver, but once money per se becomes useless , itll be up to SKILLED Labor thatll do the bidding. I have silver but not a bunch, jus some to offset cash.


Gold and silver have been money since the beginning of human history. Why? Not because they're such useful substances that you can eat or make useful stuff out of, but because (yes, I know, cyclical reasoning) people want them.

If TEOTWAWKI comes, gold coins will have value because people will want them, because they're highly portable stores of wealth that other people will want. If there is almost no food, then you'd need a whole lot of gold to buy some, if you can get any at all... but if that's the case, not having gold isn't necessarily going to put you ahead of the game.

Gold is one item that should be on your checklist, not the item. Someone who buys a bunch of gold and nothing else is going to wind up in the same situation as someone who buys nothing but ammo, canned food, bottled water, tools, etc... you'll have one thing, andcan trade some of that for other things, but you really should have stored up a quantity of many different items. Get some ammo, some gold, some tools, some food, etc.
Link Posted: 10/9/2007 3:37:52 PM EST
height=8

It is cast with rounded edges so you can stick it up your ass when you bug out.
Try that with an AR mag. or a can of Dinty Moore beef stew.



LOL!!!
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