Here in the choir, we're aware of the value of PMs, however I'm interested in people's plans and theories on how to deal with gold as a wealth store over the coming turmoil. My random thoughts include: confiscation - just because they haven't doesn't mean they won't use the 'right crisis' to do so, especially since Costello disappeared Australia's potential store of gold to back a currency. fiat explosion - as the fiat currencies plummet why would you sell something of value for something of declining value riding out the storm - keep the stack well hidden and pull it out when the world looks more inviting -but then again look at gold when the economies were roaring. riding out the storm 2 - see 'confiscation' above. A new currency is introduced, possibly gold backed, gold becomes fiat/electrons on your ID card. My hope is that gold continues to preserve wealth, just muddling along without bubble or parabolic gains, and I can pull out a gram or two to buy dinner in 2020. If the government decides to seize your gold, will it mean anti-depressants and a quiet move into the pen with all the sheep, or is there a scenario before that point? I've read Maloney's book and everything about 'exits' but the point of a black swan event around PMs is that all avenues of liquidation may be closed or too dangerous to pursue. Is it simply a matter of trying to get as much stack smuggled out with the family to Chile or Venezuela or somewhere that the long arm of world government has a weaker grasp. Maybe Australia will be relatively safe, and once again riding on the sheep's back. Perhaps you think things will eventually get better and you'll leave your sovereign collection to the grandkids, or perhaps you've got your silver 50c's ready to trade for more beans, or an ounce of gold waiting to buy each house in your street. So what are your plans?
I am considering holding some jewelry and rare coins (as much as I hate numismatic coins) as some insurance on my insurance to help in the "riding out the storm"
I don't have an endgame julie, or not one I'm willing to divulge publicly. I like the idea of pulling out a gram or 2 in 2020 and even 2030 god willing, to pay for dinner though. But if I was to advise anyone of an endgame strategy it would be: 1. Have a private stash 2. Buy PM's with your SMSF (yes the government will know about them but I'd rather lose my stash to blatant theft rather than watch my lifesavings be mauled by inflation) At least I'll be able to whinge about it on silverstackers. 3. remind yourself that Australia is not the only country in the world and that it may be prudent to establish something else in a foreign country.
if australia goes under, chances are that other countries wouldn't be that safe as well. a stash or property in a foreign country that you are not in most of the time is easier to be compromised. i would say a helicopter near your residence would be nice...tanked up and ready to fly to your waiting yatch or submarine. try to get a pilot's licence for those crafts.
I'm with you to that end. Hopefully get a property with some space for a small orchad and chooks/ducks/rabbits, veg patch and the like. upgraded with solar power, water tanks and a generator. Not all of it though mind you, probibly/hopefully keep a private shtf stack in case of future problems. It really depends on how far it goes, in what timeframe, and under what circumstances. Things change and unfortunately sometimes you have to be prepared to/or compromise on your dreams if it looks as though they will not be fullfilled as you had imagined.
i think kazakhstan is a pretty good choice 8 or so million ppl and bigger than oz, buy some goats and of you go in a yurt in steppe
Is that why you are stacking silver Tenges spot is downnnn i was soo noobishly bullish with my spot guesses for gold and silver
Depending upon what happens between now and then, my plan is to convert much of my pms to real estate and stocks. I will purchase more stocks with pms when the dow:gold ratio is near .65:1. PM to real estate conversion will depend upon the historical data in whatever country I am living in. Depending upon who wins the US election, my gold may or may not leave the country. Although I don't believe it will happen, if the government attempts a sudden seizure of gold I have a plan that I prefer not to publicly disclose.
imo, this will be how the gold market ends, with a parabola, so you have to have an exit plan which allows you to get out in a short amount of time. otoh, gold could be remonetised, in which case it may not collapse, or who knows what, but personally I am working on the parabolic assumption. But when we are talking about silver, I don't believe any of the shortage or other hype at all. There is plenty of silver in the ground and at the right price it will be found. Like all other industrial metals it is about the flow rather than the stock. Many people place emphasis on the supply stock. I don't think it's particularly relevant. Silver will be a bubble and there will be a short space of time to exit. I'm expecting it to be cheap again well before 2020.
But why does it have to end?! I have no family to pass it on to so basically this is a way of storing wealth until I need it for whatever. If it is in the bank I will spend it on consumables. If it is in silver and gold it is too dificult to spend and when I retire I can buy a boat. If it goes stupid crazy through the roof all the way to the moon I will sell it and pay off the investment properties and just sit on them until I need a boat. Gold and Silver are nice to have but we can all live without them, and many have done so for generations. Houses however are not a luxury and although they may be in a bubble now or at least over priced, they are essential. I have no faith in shares or stocks or other things that can be wiped out over night (I am still a bit dubious about gold and silver)
Take a cruise at 90 years of age,strap it all to my ankles. Leave a treasure map for the kids. Then jump overboard! REDBACK
You might need some helping climbing overboard at 90. Let me help push you over. With my scuba kit strapped on!
I wouldnt hold my breath if i was you. Cheap compared to what?? Real Estate ? :lol: tbats a joke! Cheap compared to unback fiat?? :lol: :lol:
