Well it is all on over in Greece. Many here , MANY MANY people here say they stack for a financial collapse and Greece has one So my question is, how is silver and gold helping these poor sods with little access to currency? I am sure all of you that stack for financial collapse will have some BS answer about this being different "somehow", but IT IS NOT. Those in Greece are in the midst of a of their financial armageddon and with no access to big amounts of cash how are they going to sell their PM's? Are they going to be bartering with PM's when food gets scarce (and it may very well do), i can not see anyone swapping PM's for their only tins of baked beans. If stacking for "financial collapse" is actually viable then we should expect to see these PM trades in the news in the next 10 days. I am taking the piss a tad because WE ARE NOT GOING TO SEE PM's USED IN THIS FINANCIAL collapse of Greece, just like they DID NOT in Argentina. This IS EXACTLY the situation all those stacking for "financial collapse" would expect to be using them. When the cash runs completely dry (or close to) and they ARE NOT using PM's will you lot stacking for this reason re-evaluate? Because if they do not use PM's in this situation, THEN THEY NEVER WILL.
It's always a toss as to whether people were born stupid or just preferred to cultivate that persona. You'll find that some people may invest in silver independent of stacking. However, stackers who stack for a situation as has happened in Greece, also stack cash, food, water, petrol, etc, depending on their circumstance. Your post puts you in a category of your own.
Many stackers stack for wealth preservation, not SHTF bartering. If the Greek banks go under and depositors money dissapears, then those with PMs will be able to exchange for USD or whatever later on.
Wouldn't they hold until the dust settles, then sell. PMs aren't about satisfying immediate expenses. Besides, I expect there would be quite a few opportunities in Greece to swap PMs for other hard assets like real estate, cars, fuel, food ... etc.
If I was in Greece, or in Russia as another example, I would be way more relaxed knowing I have both gold and silver ounces in my possession. If I had relatives in neighboring countries, they would also hold PM's in their possesion for me as well. Governments have no problems with big debts but at the end, as in Greece, it's the people that suffer at the end when it all fails.
If any Greeks stacked PMs for preservation of wealth, they won't need to unload it all. I imagine they still will no problems selling some during this crisis/collapse. If Greeks kept their PMs in a private SDB or somewhere else not in a bank, they would still have access to it if the banks collapsed and closed.
I'm sure people with euros in neighboring countries will come in and give them euros for the gold.No worries selling gold. And later would give them their own curriency for gold . Wouldn't you?
The Greeks have been given many months of notice of the impending capital controls. Whoever did not prepare by stashing Euros under the mattress and stacking food deserves to suffer now.
Greek could probably walk, run, sail, drive across the border with loads of gold, find a pawn shop and offload into EUR. Walk, run, sail, drive back and use the EUR to buy a loft of bread.
There are ordinary stackers who believe that in a SHTF crisis that silver will save their life....these stackers are probably fools. Silver is not a panacea. It does not function as money in any meaningful way for most people at any time in 2015. It backs no currency any longer. Central Banks no longer stock it. In times of a true SHTF, it will likely be virtually useless in terms of barter / selling unless you are willing to loose a tremendous amount of value or risk being killed if you are walking around with boxes of silver looking to unload it. When the dust settles after some period of time (months / years), silver may become a useful metal but there's no knowing if it will have lost even more value. I like silver....it's shiny. No one knows the future, myself included. .
Greeks in the past used to "invest" in sovereigns and jewellery for exactly these sorts of reasons much like the Indians buy gold because they don't trust their governments to not fu*k up their currency
Pretty sure I'd be more comfortable with a few physical silver bars than being a lemming stuck on withdrawing 60 Euros a day with the banks closed for a week. No guarantee what happens when they open either - maybe a mandatory 20% deposit tax? I'm not sure how the capital controls extend to business, but I'm pretty confident any greek with bullion could go into a dealer and exchange for Euros. Bartering for goods is something that I wouldn't see happen unless there was a total collapse. In addition to this I'd say its not a bad idea to have emergency cash in your SDB or somewhere safe - not talking about a lot, maybe a months worth of living expenses.
1. Tuck a few sovereigns into lining of clothing. 2. Go for a holiday in Germany 3. Sell sovs for euros
CGo to the local mall and sell the gold to the german gold dealer at the gold buyer's stall. If there is money to be made.... He flew in last night and is making big money buying gold at a discount. ......... All banknotes are the same throughout the entire eurozone - there are no different designs for different countries,
Take it out before they collapse and bury it. You can see that sort of thing coming. Just like all those people in Greece now trying to withdraw their cash from banks should have seen this coming. They had plenty of time to withdraw their cash so they got themselves to blame for their foolish trust in banks and failing to see this event coming. All the signs were there. I got my PMs in a private vault and if we were experiencing here what Greece has been, I would take my PMs out and bury them. Don't trust anyone with my stash.
