After a brief discussion on this thread, I am interested to hear/read opinions of others. Question: How much Gold per person per week or day do you perceive is needed to survive and pay basic bills (this does not include luxuries and holidays people)? There is a saying, and it comes awfully close to being accurate, one ounce of gold is worth a mans life (which at the time was one year). Therefore, one ounce of gold equates to one years wage. Please keep in mind this is a western view. So, 31.1 grams divided by 365 days equals 0.08 grams of gold per day (or 0.6 grams per week). Now, there is a nation already using gold for getting by, Zimbabwe, and they have ironed out they only need 0.3 grams of gold per week to 'survive' and pay the basic bills. This is an open discussion thread. I want you to argue why you reckon you or others need more or less gold per day/week to 'get by' (i.e. survive and pay basic bills). I also want you to argue why silver equivalent should by higher or lower than 12:1 ratio if converting. I also want you to vote me as SuperTroll in next election. Thanks. Let me recap stats: - Western world prefers 0.08 grams per day, or 0.6 grams of gold per week, or 1 ozt per year - African nation prefers 0.04 grams per day, or 0.3 grams of gold per week, or 1/2 ozt per year *Note: this is PER PERSON not per family .
I tend to agree given current prices (if you own your own place), but would this stand up in the case of a currency collapse?
[youtube]http://www.youtube.com/watch?v=7ubJp6rmUYM[/youtube] When the SHTF, you'd be surprised how long and how far even a small amount of gold will take you.
it all depends...... Do you own your home? Pension/Super coming in? Power bills/rates? Minimum you should look at is a Sovereign/1/4 oz/$200 Koala a week thats if you own everything and nothing else coming in...............
I hope we don't get to test that... I am thinking that down here, outside a major city, with no transport, no internet, no communications, then gold will not get me very far at all. If the only thing which has collapsed is the currency, then there will be chaos but also a place for an alternative. If there is a natural disaster, war, famine, pestilence etc. then I think people will have other priorities. Which is why I stack Gold and food. To answer the original posters question, I need enough to pay for my broadband connection but I may reduce my plan.
I was thinking in terms of everything not that you'd own a house etc. Google says the dole is $243 and a 5gram goes for $295 so a 5gram bar should see people just getting by. You could go lower if you're happy to go bush in a SHTF/depression scenario.
auspm the only person with sense around here we are only in infant stages with gold and silver... once correction takes place BOOM BOOM BOOM to the moon, remember?
Several years ago I had calculated on 1oz AU per month for two (2) people to maintain our current level of lifestyle/existence. Factored in was the anticipated rise in value to circa $2000/oz. In hindsight, I have no reason to change my view on this amount.
^^^Some may perceive that as living way beyond your means. What do you say to those people? Since none of us truly know how long the hypothetical 'depression' will last, and if the 1929 Great Depression is anything to go by, it may last many years. Therefore, is it not wise to accumulate much, but consume little? Anything that will ride out the unknown storm for as long as you can is a good strategy. .
5oz per week min http://forums.silverstackers.com/topic-27033-gold-good-for-shtf.html If you plan to sell to Joe Sixpack... on second thoughts Joe is probably dead by that stage
Plan for the worst, and hope for the best. Realistically, if you can weather the storm for the first 2-3 years you will be in a much better position longer term than others. Personally, I think that the impending economic event is going to be a doozy, and certainly bigger and more severe than the 1929 depression.
Could we revive this thread if people have figures and targets to add to the picture. http://forums.silverstackers.com/topic-22950-historical-purchasing-power-of-a-sovereign.html
