Are you watching the PM market?

Discussion in 'Money, Investing & Precious Metals' started by Clarice, Dec 6, 2010.

  1. Clarice

    Clarice Well-Known Member

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    For those of you who have not seen the closing prices of the PM market today Gold closed at $1419.90 and silver at $29.96 a new 30yr. high. How does this effect us?
     
  2. nj_m715

    nj_m715 www.veggear.blogspot.com

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    Turn your worthless paper into something useful. I had to pay 30% more for wheat, but I did find a good price on beans at our local Aldi's. I'm going back in the morning to trade more worthless paper for pinto beans.
     

  3. JayJay

    JayJay Well-Known Member

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    Yep--tomorrow I'm trekking out in this cold 30 degree weather to trade paper for rice.:congrat:
     
  4. vn6869

    vn6869 Afraid, very afraid

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    Sounds like a good trade . . . can never have too much "rice". :)
     
  5. SurviveNthrive

    SurviveNthrive a dude

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    Never understood the either/or mindset...

    I plan on having precious metals, shelf stable food, ammunition, and folding money. Survivalism is about preserving options and if I diversity my assets when investing, why not do the same with preparedness?
     
  6. sailaway

    sailaway Well-Known Member

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    I like Aldi's:2thumb:good quality and great prices.
     
  7. piglett

    piglett Well-Known Member

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    gold & silver are rather hard on the teath if you try to eat either.

    my understanding is that when paper money becomes worthless people go back to the barter system. i need 5lbs of nails how many chickens do i need to give you for those? paper money is just a good way to store resources.
    a rich man doesn't want 200 pigs & 1500 chickens at his house so he instead has a safe with paper money in it.

    there has never been a situation that instead of the berter system people went to trading gold or silver bricks after the economy fell . so i think i'll hold off on buying either of these myself.

    piglett
     
  8. SurviveNthrive

    SurviveNthrive a dude

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    :eek:What?

    Odd, billions of people for thousands of years consider gold to be important in regular times, critical in bad times. Gold will save your butt.

    What did folks use to get out of Vietnam when South Vietnam fell? They didn't trade beans and rice, chickens or pigs. They used gold to buy their way onto the boats to save their lives and secure freedom.

    What did folks use to buy things when hyperinflation hit Germany post World War One? They didn't trade beans and rice, chickens or pigs if they had gold and silver. A wheel barrow load of high denomination notes wouldn't buy a piece of bread, but one thin silver coin would buy a load of bread, more beans and rice, pork and chicken than you could eat in several sittings.

    During the Fall of Constantinople, Rome, Moscow, Nanking, Peking, and Saigon beans and rice, chickens and pigs meant nothing, but you could save your butt with just a bit of gold or silver.

    Jews with ample gold didn't die in the Death Camps. Nazis took gold. Himmler sold some of their lives for gold. People bought their way out with gold.

    Even some of the psycho Khmer Rouge, most hardline KGB/NVD, about every Taliban and tribal leader took or takes gold.

    The couple that bought a lifeboat for themselves, their pets, and luggage when there weren't enough lifeboats on the Titanic weren't using beans and rice as currency.


    if everything goes to utter crap as it had following the Fall of Rome, those hordes didn't fight for beans and rice, chickens and pigs, they wanted GOLD...and women.



    But there's even more common sense to this...

    Around three years ago one of my sons spent part of some paychecks on silver. It was running about $16 then...it's running over $28 now.

    I picked up a gold coin for my niece when she was born when gold ran well under $360 an ounce. It wasn't a full ounce but rather a quarter ounce one and cost be about a hundred bucks. It's worth $382.00 today and she's still a child.


    Diversity in investments-I do it with the ROTH and other investments, why not with preps? Food, ammo, gear, and precious metals.
     
    Last edited: Dec 12, 2010
  9. mosquitomountainman

    mosquitomountainman I invented the internet. :rofl:

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    Nothing wrong with having gold, silver or other precious metals on hand during hard times. The key is to be sure your other bases are covered in your preps. If you're out of food or can't defend what's yours PM's aren't going to save you. If you need basic necessities to maintain your life you'll be trading your gold for food or shotgun shells at whatever price the other person demands. So use the money you have now to cover your life-sustaining needs for the future. That being said, once you've stocked up on the basics begin collecting PM's. You don't have to start with gold or silver coins. Begin with junk silver or other metals and as you have more cash to spare collect more. Just be sure your other needs are met first.

    Generally PM's aren't a good investment over the long haul because they merely keep up with inflation. Buying them now will cost you a bunch. I remember years ago during turbulant times I had friends bought gold at inflated prices only to see it fall to a third of what they paid for it a few years later. The best time to buy PM's are during those times the price is stable. If you don't have them already I'd be cautious about investing a lot in them now. Unless you're just rolling in dough put your efforts toward the things you'll need to keep you fed and secure.
     
  10. SurviveNthrive

    SurviveNthrive a dude

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    Yes, we definitely be careful on massive PM purchases!

    It's hard to believe that silver is where it is when I've bought one ounce rounds for $4.60, $6.40, etc., and even handed them out to some kids as token payments for helping out with a Halloween event.

    [​IMG]

    That little spike in the Winter of 1997 which followed that dip in the Summer of 1997 worked out well for me, I was putting overtime into silver and cashed out for gain when it went up. If I'd any forsight I'd have simply held it all and I'd be cashing it now when it's at $28. I'd have done a lot better putting my ROTH and other investment money into precious metals.

    [​IMG]

    If you don't have a lot in PM's now, wait for the next big dip then buy.


    One of my sons is very, very tempted to unload his silver now. If he had more need for that money this minute he would. That's one way of using silver and gold during bad times...it doesn't come down to a simplistic matter of 'can't eat gold', it comes down to inflation, food prices, values, etc.
     
  11. worldengineer

    worldengineer Well-Known Member

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    I've always been more of a fan of copper and lead for use after a collapse. I can use both to make usefull items and should things make a recovery you have two metals with high value.

    Lead for reloading, weights. Copper can eventually be made into wire. Or shiny things.
    Plus how do I know that its gold or silver? I wouldn't allow myself to be tricked so I probably wouldnt trade for or with it.
     
  12. piglett

    piglett Well-Known Member

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    in a SHTF situation why would i trade gold/silver coins/bricks for my stores of food??? I think food & ammo would be worth more than any other thing.

    now if i know for a fact that say after a big EM weapon hit the east coast that the feds were already starting to fix the grid & get things back to normal then ya i mite trade a couple of gold coins for a couple thick steaks.
    However if i have little or even zero info i have to figure that this is the new normal & life as we now know it will be changed forever.
    if that's the case you can take all that gold & silver & keep heading on down the road.
    food would be worth more than all the dam gold you could carry.
    don't think so ??? shut the grid down for 3 months & then get back to me.:cool:


    piglett
     
  13. Frugal_Farmers

    Frugal_Farmers Good ole country folk

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    Well said. Just invested in another 300lbs of wheat today. Pratice your trade and barter skills today with trusted ones.