I would assume this would be most SHTF preppers thinking. The number of stackers thinking they are going to trade PMs for food in such a situation would be minuscule.
You are just a coins collector. A True Stackers - Stacking the Right stuffs. ( % on different Metals ie Platinum, Gold , Silver) Never have Love for PM, Just keep stacking, no matter what. May have different stacks of Metals. Do not condemn what he is stacking nor questions himself later... So are you a True Metals Stacker??? or just a coins collector :lol: :lol:
Precious metals are probably most useful for pre- and post-SHTF scenarios. During a serious crisis period, in some regions or countries you may be hard pressed to be able to find a buyer but more than likely, if you do, that buyer will be offering you considerably less for the PM's than spot....so you could end up losing considerable value if you find yourself desperate or forced to sell during the crisis period. Selling / trading pm's pre-SHTF for things like canned food, fuel, medicines, etc may be the most useful way to utilize your metal commodity. I like silver....it's shiny. .
It's simple, those who don't have money in the banks will be safe. Having either cash or PM's does the trick. A hell of a lot more has to happen before their Euro cash become worthless. And of course anyone who stacks PM's for SHTF and does not stack cash (outside the banks) also, is just silly. Even in Australia here with our strong economy, it's not hard to imagine a scenario that could temporarily bring down our banking system and ATM's. it doesn't need to be a banking collapse, it could be a state wide power grid failure for example. https://en.wikipedia.org/wiki/Northeast_blackout_of_2003 We are always one severe solar storm away from a grid crash. Always having cash on hand is a wise thing.
Where is the guy at the pawn shop getting his money? Where are they finding the money to travel to another country? Businesses are going to run out of cash as well you know. This is not just mom and pop that are losing cash access, IT IS EVERY SINGLE PERSON IN Greece. Sure with PM's you are not losing cash LIKE IN BANKS, BUT the PM;s are NOT going to help you make purchases are they?
Right now it's obvious that PMs in Greece are not useful for daily purchases, but you can't say they are useless because they are still a store of value disconnected from the euro and the potential drachma. I'm pretty sure there is a huge amount of cash available in Greece right now stored under the mattresses... Where do you think all the money disappeared from the banks in the last few months has gone?
I believe that sterling-nz's point is that silver is effectively useless during a SHTF crisis period....which it is. If someone wants to take sterling-nz's comment literally, then I suppose the argument could be made that a stack of silver could be used as a door stop, rendering the silver technically not entirely useless. :lol: I like silver....it's shiny. .
He's fundentally wrong in attributing a SHTF trading justification to a majority of (Australian) stackers. People with concern for a SHTF event are taking other preparations. Amongst other reasons, many stackers are seeking to protect themselves from the actions and negative consequences of government, and a belief that there is serious risk in the current financial or monetary systems.
How long will it take for professional gold buyers to fly in from other European capitals, with wad loads of euros, and start buying up gold at a discount. Lots of money to be made will ensure a quick marketplace. I bet they are accessible within 3 days. They would advance cash on promised return for gold to pawnshops. Or would use other means.When good money is to be made, greed will find a way.
As a spectator it's not easy to understand the situation in Greece or Argentina. This is not armageddon, don't get me wrong Greece is in severe financial distress but life goes on. People will still need to conduct trade and to do so they need the most liquid medium of exchange in order to satisfy basic human needs of food and shelter. The euro and argentine pesso is an easily divisible unit of account for small ticket items. Had you ever thought what if someone needs to buy and sell a car or a house? If you want to buy an apartment in Buenos Aires today you will see prices in USD. Culturally in south america its not uncommon to do deals in big ticket items with combined payment with cash and barter (yes gold) in normal economic conditions. When it comes to big ticket items people want payment in some sort of reserve asset USD or gold because it represents less risk than holding the local currency. Gold can be used for trade, because it has not been monetized to buy souvlaki does not invalidate its use.
My Understanding if we are talking financial collapse to its full potential, is that all coins minted Gold or Silver are owned by the government under the currency Act and they can recall their property.... So I only stack rounds or bars so I own it and it can't be taken back by the government plus purchase under $5000 at a time so there is no government record as well. Please correct me if I'm wrong in this respect. Love the thread by the way and its great to hear the diverse array of opinions. Many Thanks To ALL !!!!!
it's for gold as i understand and may be extended to silver. It is also currently suspended. Who's going to voluntarily hand over their stack!? it's like mobile phone use in cars. hard to police. just stay off the radar i guess. just my 2c
It would probably be in the form of a buyback scheme over a period of time. Imagine if it went to vote tomorrow - WE NEED YOUR GOLD TO FIGHT TERRORISM and to PROTECT AUSTRALIA. Imagine if it went to vote in a few years time - WE NEED YOUR GOLD TO SAVE THE ECONOMY SO YOU CAN FEED YOUR CHILDREN. Anyone failing to sell (hand over) their stack back to Govt. over that period of time will be unable to buy-sell-hold PM's ... if it were illegal to do so. Think gun laws. There's possibly a hell of lot more people that don't hold PM's and would fall for the propaganda. Not saying this will happen anytime soon or ever, but I think it could be policed with the stroke of a pen. Not so much who has what (after the buyback) but more so rendering your stack virtually worthless if you are unable to ever use it.
