Do you believe PM's can save you in a "doomsday crash"?

TreasureHunter

TreasureHunter

Well-Known Member
Hi,

Do you believe silver, gold etc. can give you financial security if a "doomsday crash" happens? (let it be any major crisis: banking crises, severe recession, hyperinflation, euro collapse or eurozone contraction, etc.).

Considering last year's huge drop in gold's and silver's price... :rolleyes:

...do you believe your stack will help you if a major economic/financial crisis erupts? (I didn't say necessarily hyperinflation, there are many other possible scenarios as well...)

[YES] or [NO]?
 
Its really situational. I believe they will help more after then during. Perhaps if we made it through whatever event and things began to stabilize again you wouldn't have lost everything unlike the money you kept in your bank.
 
ASEs for the crash and after, G & S bars for the "broad sunlit uplands" when sanity returns.


JMO


OC
 
No.

I think they will help me after the crash and during recovery when everything resets.

That or they will slowly appreciate over the next 30 years, I'm ok with either.
 
Put it this way, no matter what happens, bits of metal will be more valuable/useful than figures on a backup tape somewhere.
 
goanna said:
Put it this way, no matter what happens, bits of metal will be more valuable/useful than figures on a backup tape somewhere.
Click to expand...

...that counts cryptocurrencies too as such "figures"
 
i will trade my water for food, i will trade my alcohol for food, i will trade my food for medical supplies....u on your scrooge mcduck pile of silver, will be dead.
 
TreasureHunter said:
SilverKendo said:
Nope
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I'm curious: why?
Click to expand...

First, I do not believe in a doomsday crash any time in the near future. Anything could happen but I'll believe it when I see it.

In the unlikely event of a doomsday crash I will need food, shelter, water etc. just like everyone else. I don't see why gold or silver will be any better a medium of exchange than cash at this point. If we hit hyper inflation and gold is worth $10K per oz or a million per oz will it really enhance my buying power? I don't think having a few oz of gold or silver will suddenly give me the buying power of a multi-millionaire of today during a financial sh!t storm in the future. I think that is a money-for-nothing crowd world view that just isn't realistic. Now maybe during the recovery those PMs will take a sharp price spike before leveling back out and I could cash in but again that is a money-for-nothing desire. I do think that PMs are valuable to hold for other reasons but SHTF isn't my reason for holding them.
 
#13,

Those items are what is called "consumables" and once you have used them they are gone. Water, food, medicines, all need to be replaced, so i hope your supply of water is endless and your 'customers' do not have a alternative source of supply, like a river perhaps.

I would suggest that you move away from a100% barter system to perhaps a 50/50 barter and PMs.

JMO


OC
 
YES (but it depends).

The USSR was once a superpower. When it collapsed people's savings went to zilch. Fortunately many/most people had homes and were able to end up owning them. More recently there have been examples of currency collapses, where owning gold has provided an advantage.

But you don't want to be overexposed. Better to have sufficient cash reserves and means to generate income. Real estate can be a great asset, but not always. Would you want to be owning land in eastern Ukraine now, or in Caracas, or in Damascus? Any privately held land in Russia a century ago was taken by the Bolshies.

Adaptability is the key.
 
In theory, any 'hard asset' will save you if you have enough of it.

A backyard full of Bunnings stuff will do, but you are tying up a lot of cash etc. I prefer 1Kg bags of rice, or TP, or Rolled oats, or ladies stuff. All stuff with a guaranteed demand by the desperates.

"tangible assets" the accountants call it!

OC
 
Mr Medved said:
YES (but it depends).

The USSR was once a superpower. When it collapsed people's savings went to zilch. Fortunately many/most people had homes and were able to end up owning them. More recently there have been examples of currency collapses, where owning gold has provided an advantage.

But you don't want to be overexposed. Better to have sufficient cash reserves and means to generate income. Real estate can be a great asset, but not always. Would you want to be owning land in eastern Ukraine now, or in Caracas, or in Damascus? Any privately held land in Russia a century ago was taken by the Bolshies.

Adaptability is the key.
Click to expand...



Interesting link
Closing the 'Collapse Gap': the USSR was better prepared for collapse than the US http://www.resilience.org/stories/2...pse-gap-ussr-was-better-prepared-collapse-us#


>Snippet<
One important element of collapse-preparedness is making sure that you don't need a functioning economy to keep a roof over your head. In the Soviet Union, all housing belonged to the government, which made it available directly to the people. Since all housing was also built by the government, it was only built in places that the government could service using public transportation. After the collapse, almost everyone managed to keep their place.
Click to expand...

You can chase down a blogger "Ferfal" on his experiences during the collapse in Argentina. There's a essay around about the collapse of Yugoslavia and trying to live in the aftermath
 
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