My scenario was real life Venezula, good money there is US dollars. The same when Zimabawee had hyper inflation, it wasn't gold or silver, the currency everyone trusted was the good old greenback. As I stated, I don't believe shtf will occur in my life time. To me where everyone will know how much gold spot is unlikely even if the greenback loses its status, some other currency will take over its mantle. Just like before the greenback was the reserve currency it was pound. FYI. I guess some people are referring to black market becuase in Venezula there is a currency control, so there are two exchange rates and the black market.
Bullion & collectible gold, platinum and silver coins are part of my retirement portfolio with the intention to be used last (if needed) or in case of SHTF scenario. Ideally, they will be passed on as a legacy to the kids and grandkids. Their choice to continue on the legacy or not.
Good points. Still demonstrates the benefit of holding PMs against meltdowns. If there is an alternative currency 'in place' I'd be happy to be holding gold/slver and not worthless $100,000,000,000,000 notes in the local currency at any rate. And no, I'm on the record as agreeing there probably won't be a shtf in the forseeable future. I think a lot of preppers buy into it because their lives are boring and pointless and it gives them something exciting to think about that doesn't require much imagination.
I will disagree with you here haha. I think my life is exciting, i do so many outdoor activities with my children and friends. Do i believe I'm a prepper? I'm not 100% sure, but i am setup to be able to live from my stock pile for about 1yr. Anything after that, I'm toast along with my family.
When? Well, same answer as when to spend stacked dollars. Now, and then, upon desire, upon need, when the price is good, ... And, we're on the Eve of Destruc.... ERRR another price fall off a cliff, that's when the talk should shift towards when to BUY!
Also, PM's are just one of the choices. Historically seen, they have fat price tags nowadays. So maybe there are other stackable things out there, that are cheaper? For ex, what about shoes? Everybody except ppl with a living standard of zero and some weirdoes needs shoes. And then women, these go even beyond that, they're diverifying into the hundreds. Both essential needs and luxury. Can't go wrong. And same as pm: if you don't want to fend off women all day long - important to not talk about it. And in case a slippery, same pm related sunken boat stories can be reused. So shoes are mega liquid. Can be spent every day of the week just not in gay clubs.
It's the quiet desperation, the growing ache in people's souls, that is finding an outlet in the activity of prepping.
I agree,and even as important IMHO is to have a cool head in challenging and changing times (which we are living in today) I cannot see one downside to holding some "small gold" and some "small silver" today for tomorrow,absolutely no downside at all history will tell you that. Choose your resources wisely and spread them around never really knowing what might happen tomorrow and gain some peace of mind in the process,if it was hard I wouldn't do it.
I don't stack for security (in fact you can't really say I have a decent stack). I set some money aside to keep it out of the criminal banking system. As far as I see it, SHTF is happening daily. My tax dollars are being used to kill others & my superannuation contributions are being used to prop up criminal enterprises. 100% control over my savings is a basic human right and that right has gone with the superannuation scam. Apparently it's all our role to prop up criminal enterprises. All kinds of hell break loose when people that don't work get too much power and this is the true SHTF. My greatest concern is getting some control back.
I'm amazed how sure people are.Sure there will be a collapse, sure there won't be, or won't be soon. There's no way we can be sure. Only through wishful thinking. Im not sure . That's why I stack, surely.
Peter can I ask you 2 simple questions please - # Have you read Ainslie Bullions daily posting in the general discussion thread - yes or no. # and if so how often have you read it = I read it everyday taking only 5 minutes to gain more truth about our precarious financial tight rope balancing act that the world is doing every moment of everyday concerning the insane amount of still QE totaling $200,000,000,000 per month just for one and plenty of other "good news" bringing peace to a frightened soul :lol: Thanks in advance for your answers
No and no. Yes , I am aware of the economic situation and have been aware of it since 2008. And nothing has happened. Against every expectation and to my surprise everything didn't fall down. Look at what the housing markets done! This could continue. If things were going to blow they should have gone by now. Nothing is sure. The future continually surprises me. Whatever forces have held all this up are very strong and may cause all this to settle down again.
That is a shame I totally understand what you are saying and why you are saying it but I highly recommend that you take the 5 minutes every day to have a read,if nothing else it will give another opinion to consider about your stacking and other potential financial decision that you might make and with great info being given out for free. Thanks for your reply P.S. I have no commercial interest or other in Ainslie Bullion just a big fan of their daily blurb.
The 2008+ so called "quantitative easings" suggested easy created and spent money. Reality was the opposite: the central banks pushed their brakes (paid member banks to NOT lend), but wanted to make people with bank savings believe the opposite, to make them willing to pay much bloated prices for the assets they tried to "preserve their purchasing power", along thus falsely expected general price risings (what they name "inflation"). The future sits in the hands of speculators. Central planners and the parasiting gangs behind them can only try to mislead. If they fail, they have to show their ugly thieves faces again more openly. A "crisis" is an event that delivers hefty gains to one side and inflicts hefty losses to another. It can be them, too. Money is power. Without money no power.
Having zero debt is the most useful thing you can have, and you already have that. If you are going to downsize then I'd say do it now. It's smart to do that 5 years out, especially when the housing market has had the biggest bull run ever and is still at record highs. Better to take the gamble it doesn't go up much than gamble it doesn't go down much at this point.
