This wasnt from Maloney, even though he has mentioned it in his video's, this is all over the net and did happen. Of course he wants to sell silver/gold, but atleast this info is true according to history. He didnt just make it up. But how amazing would it be to see silver at those prices. It would mean the SHTF big time, but Wow, arent you glad you got yourself in a positive position.
If ever the SHTF, due to hyper inflation, nobody will want to buy or barter for silver or gold...people won't want silver and gold till long after things stabilize and prices return to normal. Instead, people will buy and barter for things people need to live and energy sources. The notion that silver and gold will be invaluable if ever the SHTF is fantasy thinking.
Yes I do realise that, he just spins in exactly into the sort of thought pattern you were displaying. Hyperinflation as an exit strategy is no strategy at all.
It really is hard to say what will and wont happen, im not ruling out anything. But one thing I do believe is the 1%ers will stay super rich, im sure they have a sinister game plan already. The fact that its completely unclear on what will happen is a scary thought. I think what ever happens, it will not last long and a new system will be in place. But its only a guessing game for folks like you and me.
Oh i totally agree. Its not my plan at all. I dont have one, because the rules will keep changing. Just keep up with all the news and watch those prices. I was just showing what happened in the past and is one example of what could happen. Its hard to predict an exit strategy at this point.
If golds price reaches $5000 or $10000 then other prices will have risen too, and the same will apply then as now: it MATTERS.
I have a very simple exit plan. I buy as much silver and gold as I can (going more towards gold as I learn more) for 30 years then sell it in pieces per month to supplement a pension. I will sell it however I can to get as much as I can. I plan to cash in a sovereign per month and a few ounces of silver a month, and will also have set aside a few sovs per year for a month in the sun somewhere. My house will be paid for, my PMS will just be a fund I can spend if I want somthing, or if I don't need to cash in a sov that month, then it adds another few days to my sun filled holiday. I don't expect huge gains from PM's, just to keep up with inflation is fine by me. My wants are few, I just want a retirement that doesn't leave me worrying how I will heat the house. If I expect something reasonable I feel I am much more likely to get it, than believe all this shtf bollocks. When I first started collecting pm's I really saw them as protection against an end of the world scenario. As time has gone on I am really of the opinion that all the scare mongering I have read online is a crock of shit, and I will be worm food before any meaningful collapse happens, if one should happen at all that I very much doubt. Pm prices will go up, then down, as will property, as will shares, sometimes there will be bnig swings, sometimes not, but the end of the world will not happen because of fiat. Too many people are invested in what we have for it to fail In such a massive way. Just my opinion
That's not the recent experience in Mozambique or Argentina. Small amounts of gold in particular, was used as a form of barter medium to get primarily food. As far as I am aware, silver was not used to any extent.
I saw a video on this a few weeks back. Family members were panning in the local river for the tiniest amount of gold each day to feed their families. Cant even imagine going through that.
think I may have related this before, but the grandparents of a colleague in the bank lived in Berlin in 1923. They had financed a family friend into a house purchase some time before the hyperinflation hit. One day he knocked on the door with a fistfull of notes and demanded settlement and title to his property. OC
I think you are missing the point. I was responding to the suggestion that silver and gold would be valued at astronomical levels in a SHTF scenario. The comment that member made was claiming that in Germany, the value of those metals was, "Silver 543,750,000,000 / Gold 87,000,000,000,000" and was implying that in tomorrow's SHTF dollars, silver and gold would run a far, far, far, far higher cost than back in 1923 and that this cost would be very reasonable to the average person. I never asserted that gold would become meaningless, but rather than no one in their right mind would pay 100 quintrillion dollars for an ounce of it nor would they barter a developed New York City block for an ounce. It's an absurd notion that someone would believe such a thing but some people do and you can thank the worst of the snake oil perma-bulls for this twisted, deceptive, lie-pushing. It's fantasy thinking that anyone would barter vast amounts of prime real estate or cargo ships full or non perishable food for an ounce of gold if ever the SHTF. Why on earth would they??????? .
In a hyperinflation scenario, I expect an ounce of Gold to buy AT LEAST the same as an ounce of gold buys today. $1300 worth of food 'volume', a years electricity, a years council rates, maybe 800 litres of petrol, and so on. IMHO, it will far outperform that basic criteria. OC
Whatever happens I feel better with options. I think gold and silver give you options. To what level, I couldn't even guess. I do feel Old Codgers post above sounds like the most believable outcome.
Yes, Old C, that's a reasonable answer unless you were buying most of your gold at $1900 USD an ounce. Some stackers believe that buying at ANY price is smart. In my view, there's nothing smart about that thinking. Those who don't care about the price they are paying for a commodity are probably not doing their homework. .
I have said before, buying gold at $1900, and watching it go to $1.9 MILLION (or trillion) makes the purchase price meaningless. JMO OC
Well, I have a graph that shows an ounce of Gold at 100 trillion 'Weimar Marks' in November 1923 Germany. No idea what that would have bought at that time. In hyperinflation, values seem to be come meaningless too. OC
