Do you believe PM's can save you in a "doomsday crash"?

Discussion in 'Gold' started by TreasureHunter, May 18, 2014.

  1. TreasureHunter

    TreasureHunter Well-Known Member

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    Hi,

    Do you believe silver, gold etc. can give you financial security if a "doomsday crash" happens? (let it be any major crisis: banking crises, severe recession, hyperinflation, euro collapse or eurozone contraction, etc.).

    Considering last year's huge drop in gold's and silver's price... :rolleyes:

    ...do you believe your stack will help you if a major economic/financial crisis erupts? (I didn't say necessarily hyperinflation, there are many other possible scenarios as well...)

    [YES] or [NO]?
     
  2. Old Codger

    Old Codger Active Member Silver Stacker

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  3. House

    House Well-Known Member Silver Stacker

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    More yes than no
     
  4. SilverKendo

    SilverKendo New Member

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  5. TreasureHunter

    TreasureHunter Well-Known Member

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    I'm curious: why?
     
  6. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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  7. Nabullion Dynamite

    Nabullion Dynamite Active Member

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    Its really situational. I believe they will help more after then during. Perhaps if we made it through whatever event and things began to stabilize again you wouldn't have lost everything unlike the money you kept in your bank.
     
  8. Old Codger

    Old Codger Active Member Silver Stacker

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    ASEs for the crash and after, G & S bars for the "broad sunlit uplands" when sanity returns.


    JMO


    OC
     
  9. Danny-boy

    Danny-boy New Member

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    No.

    I think they will help me after the crash and during recovery when everything resets.

    That or they will slowly appreciate over the next 30 years, I'm ok with either.
     
  10. goanna

    goanna Member Silver Stacker

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    Put it this way, no matter what happens, bits of metal will be more valuable/useful than figures on a backup tape somewhere.
     
  11. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    Yes, after the food and the cash in my stack have run out. Not on day one.
     
  12. TreasureHunter

    TreasureHunter Well-Known Member

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    ...that counts cryptocurrencies too as such "figures"
     
  13. ego2spare

    ego2spare Well-Known Member

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    i will trade my water for food, i will trade my alcohol for food, i will trade my food for medical supplies....u on your scrooge mcduck pile of silver, will be dead.
     
  14. SilverKendo

    SilverKendo New Member

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    First, I do not believe in a doomsday crash any time in the near future. Anything could happen but I'll believe it when I see it.

    In the unlikely event of a doomsday crash I will need food, shelter, water etc. just like everyone else. I don't see why gold or silver will be any better a medium of exchange than cash at this point. If we hit hyper inflation and gold is worth $10K per oz or a million per oz will it really enhance my buying power? I don't think having a few oz of gold or silver will suddenly give me the buying power of a multi-millionaire of today during a financial sh!t storm in the future. I think that is a money-for-nothing crowd world view that just isn't realistic. Now maybe during the recovery those PMs will take a sharp price spike before leveling back out and I could cash in but again that is a money-for-nothing desire. I do think that PMs are valuable to hold for other reasons but SHTF isn't my reason for holding them.
     
  15. tolly_67

    tolly_67 Well-Known Member

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  16. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Not sure,

    but I'd rather have them than not...
     
  17. Old Codger

    Old Codger Active Member Silver Stacker

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    #13,

    Those items are what is called "consumables" and once you have used them they are gone. Water, food, medicines, all need to be replaced, so i hope your supply of water is endless and your 'customers' do not have a alternative source of supply, like a river perhaps.

    I would suggest that you move away from a100% barter system to perhaps a 50/50 barter and PMs.

    JMO


    OC
     
  18. Mr Medved

    Mr Medved Member

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    YES (but it depends).

    The USSR was once a superpower. When it collapsed people's savings went to zilch. Fortunately many/most people had homes and were able to end up owning them. More recently there have been examples of currency collapses, where owning gold has provided an advantage.

    But you don't want to be overexposed. Better to have sufficient cash reserves and means to generate income. Real estate can be a great asset, but not always. Would you want to be owning land in eastern Ukraine now, or in Caracas, or in Damascus? Any privately held land in Russia a century ago was taken by the Bolshies.

    Adaptability is the key.
     
  19. Old Codger

    Old Codger Active Member Silver Stacker

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    In theory, any 'hard asset' will save you if you have enough of it.

    A backyard full of Bunnings stuff will do, but you are tying up a lot of cash etc. I prefer 1Kg bags of rice, or TP, or Rolled oats, or ladies stuff. All stuff with a guaranteed demand by the desperates.

    "tangible assets" the accountants call it!

    OC
     
  20. Nugget

    Nugget Well-Known Member Silver Stacker

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    Interesting link
    You can chase down a blogger "Ferfal" on his experiences during the collapse in Argentina. There's a essay around about the collapse of Yugoslavia and trying to live in the aftermath
     

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