Posted: 12/18/2011 4:32:23 AM EDT
| Let me ask something besides the commodity investment for now, am I right by thinking that in a total shtf-ecomomic collapse silver would be useless in metal because your not going to go to the local bank or coin collector and cash in. at that point to me it would be no different then saving copper or lead |
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Total economic collapse is one scenario where gold and silver would be good to have.
In the past, i.e. Argentina, Weimar Republic, etc. when the currency collapsed, gold and silver was used to buy the new currency. In other words it is used as a store of wealth. Or perhaps I should say, people that traded gold and silver for the new currency did better than people that traded the old currency for the new currency. Would you use it on day 1 of the collapse - No. In the event of a nuclear holocaust (Mad Max) or alien invasion (Falling Skies), gold and silver will probably be worth nothing. |
| You are correct that in TOTAL economic collapse silver and gold would not have any value. I can't think of a country which has ever suffered TOTAL economic collapse. As long as there is commerce of any kind PMs will have value. The same cannot be said for a currency. |
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Quoted: At that point to me it would be no different then saving copper or lead It is the same in that regard. If you have all your food/supplies in order and want to store wealth in a smaller package, gold/silver is the answer. Its just a commodity like most everything else, needs dictate cost. |