Stocking up on gold/silver/cash is a waste?

Discussion in 'General Preparedness Discussion' started by crikey, Sep 16, 2010.

  1. crikey

    crikey Member

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    IF there were really a SHTF situation that came about, what do you think the value of any monetary currency, be it gold, silver, cash, whatever, would be? I am thinking that instead of stocking up on currency, use that money for things that will have a real value in a EOW (end of world) or survival situation.

    IE: ammo, coffee, matches, blankets, food, wheat for bread, candles, fuel, spare generator, lumber for building, tools, trailers, vehicles, smokes, tarps...etc...

    You get the point. When it comes down to the nitty gritty....if someones family is hungry, cold and sick and there is a limited supply of food, shelter and meds, all you have will be more valuable than all the gold on the planet.

    I truly believe that IF something ever happens, a piece of bread will by a bag of gold
     
  2. ZoomZoom

    ZoomZoom Rookie Prepper

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    I haven't been collecting any precious metals for the reasons you note.

    I'm keeping some cash should there be a partial collapse. This will be used to pay against the mortgage. If people want trade their wheelbarrow loads of cash for a meal, I'll take that and make the mortgage go away.
     

  3. horseman09

    horseman09 Well-Known Member

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    Crikey, I think that depends. If the SHTF situation is a complete collapse of civilization, then I'd say you're right. A loaf of bread would be worth a wheelbarrow full of gold.

    But, IMHO, a more likely scenario would be a little less dramatic. Some sort of economic system and power hierarchy would probably exist, and that would allow precious metals to be, well -- precious.

    But I think balance is the key. All food but no ammo is a problem. All ammo but no food is a problem. Etc. Some of everything including a supply of precious metals if one can afford it is, IMHO, likely to be the most beneficial prep.
     
  4. keepitlow

    keepitlow Well-Known Member

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    Good to have petty cash at home as well as some barter metals and barter materials.

    But above all better to have some preps...food, guns, shelter, fuel, warm clothes.

    I'd add to your cache with 90% silver for barter. (1/10th gold eagle is worth each pile of silver coins.)

    [​IMG]

    Just make sure your PM is in small denominations if you intend to barter with it. (Probably an unlikely event)

    But my survival mentor says...to prepare for the unthinkable one must first think the unthinkable.

    I look at my everyday life and what I need to live, then I look at the unknown and think about what could be.

    All this has to be done within reason.

    But what is reasonable for one, is unreasonable for another...so we should remember we only have to please ourselves with our efforts.
     
    Last edited: Sep 16, 2010
  5. 101airborne

    101airborne Well-Known Member

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    Up until a few month ago I'd have agreed with you. Still dp to an extent. However IMO for those who survive, eventually some form of civilzation will reform after a TEOTWAWKI scenerio. When that happens eventually bartering will be replaced by some form of monitary system. I/we are investing in small amounts of silver. As IMHO gold prices are way to high currently, and are fueled by "economic panic" and in a year or so if things stabalize the gold prices will fall through the floor. Now I still invest 75% of my prepping budget on supplies I spend some in PM's just in case. Worse case I'll have an addition to our retirement fund
     
  6. HozayBuck

    HozayBuck Well-Known Member

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    I've always spoken out against PM's...but

    At the current prices.. I wouldn't buy any of them.. IF say Russia was to put a very large amount of gold on the market and the price dropped like a rock...then I might buy some of the small coins... but I have the rest of the stuff already.. and if all else fails I could open a trading post... "Farnums Freehold"... good book..

    Nothing is worth stockpiling when it's at an all time high.. every commercial on tv and the radio hammers and hammers to "BUY GOLD"!!! sure..at 1200.00 or whatever it is? hell if I had some I'd be selling too!...

    Right now...at sites like "ammoman" aimsurplus etc...ammo prices are really low compared to a year ago... can't speak for LTS foods...

    Mostly a small bit of dirt that you own and a place to grow food in an area where your not burning wood 8 months out of a year, that seems to me a better buy then gold... and land and housing is flat right now......

    If I did have Gold right now I'd sell it and buy land to homestead on...

    So to the OP... anything you can't make yourself is a good thing to have... Heirloom seeds would be worth their weight in gold... tools to work the ground.. non power tools to build with..
    Garage sales!! thrift stores! most of the people I know even the ones with good jobs shop at thrift stores! ... some very well dressed ladies I know buy from Goodwill... won't work for me coz I'ma go-ri-lla.. I "might " find a size Huge Lime green Leisure Suit !! double nit !!!!

    Tools...garage sales!...friend of mine went to a garage sale 2 weeks ago...just driving by and said...WTH... went in...sitting on a table in back was a very nice clean SKS !! $125.00... go figger..
     
  7. Clarice

    Clarice Well-Known Member

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    We will need some form of currancy to pay our real estate & property taxes. I don't think the county government will barter. Sometimes the gleem of gold or silver will get you out of a desperate situation.
     
  8. GroovyMike

    GroovyMike Well-Known Member

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    We have to prepare for all contingencies. One is the complete devaluation of currency or hyperinflation so currency is basically worthless. In that case you are far ahead to have tangible goods like food and ammo on hand instead of cash or precious metals. But we also must prepare for a world where cash is needed to pay taxes etc. So definitely buy goods, but also hedge your bets and keep some cash on hand!
     
  9. Jarhead0311

    Jarhead0311 Well-Known Member

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    One day after the SHTF things will start to return to normal. Barter will start to break down as it always has and once again those without gold will work for those who have it. :dunno:
     
  10. HozayBuck

    HozayBuck Well-Known Member

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    Well in fact you can't use PM's to pay tax's and since we talk about prepping for TSHTF.... the day that happens, no more tax's...:D
     
  11. josephines

    josephines Member

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    It seems that a few extra chickens, peppers, and winter squashes will be good for almost anything if the social/fuel structure really collapses. And a nice, enriched-soil (I include seaweeds for iodine.) garden-bed, or a fruiting vine/bush/tree will be worth a lot to the individual. And some trees growing with an eye to cutting them down at some point--good fuel. I keep a year or two of grain on hand, since I don't use much wheat and can only get good millet in bulk. I wonder if the officials who might pillage some people will want the millet?

    Personally, I think the government that created this mess will come in to "save" us all. I have run into a few guys who would do stuff like flatten a tire, or have a friend roam around my house with the guy visiting me. Then, the guy would try to be the hero! Problem is, I am my own hero most of the time.

    I want to be around adult humans, though I like children part of the time. Once a lady or man is physically matured, I don't want to play games with them. I want to work on projects or have some relaxing activities, with adults. So sad that our legal officials are mostly not adults--just physically grown. Times are changing, though; the punishment time for the 10 Tribes has been slowly ending for several years now.
     
  12. goose

    goose Active Member

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    Anyone who says they know what will be valuable after TSHTF is fooling themselves. Maybe it will be important; maybe not. I can't know, and no one else can know. All I *can* do is prepare for the most scenarios I can.

    That said, I currently have no PM; I'm prepping the things I need to live on first, but at some point, I'll probably get *some* PM just as a backup.

    In fact, my plan right now to get PM is to trade for it after TSHTF. I have a number of things I've put away that I believe will have significant trade value post-SHTF. I might trade them for PM if I need to trade that PM for something else, or I might not.
     
  13. ZoomZoom

    ZoomZoom Rookie Prepper

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    I'm confused...
     
  14. horseman09

    horseman09 Well-Known Member

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    Shelter, water, food and ammo will always be important, IMHO.
     
  15. goose

    goose Active Member

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    I don't see why. I'm stocking stuff I believe will have trade value. I expect to be wrong about some of it. But I surely don't know for sure, and nobody else does, either.

    All you can do is give yourself the best odds you can. That's why I don't dismiss PM out of hand. I don't see that they'll be as valuable as people think, but it's quite possible I will be wrong.

    That's why, at some point, I expect to get at least some PM. Why not yet? Because my other preps are not complete, and I'll be darned if I'm going to sit there kicking myself for buying gold or silver when I could have bought rice and beans.
     
  16. Jarhead0311

    Jarhead0311 Well-Known Member

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    The idea is to be diversified. I've read on forums where one is stockpiling ammo to trade after the SHTF, another tools still another food. Theses are all good items to have and may be good barter items.....but what if you can't find someone who needs what you have accumulated? I believe that those who have PMs may have an easier time finding someone to accept them than say some one with a box of ammo. PMs are just one more piece of the survival puzzle.
    On a personal note, I not only have PMs, I have literally tons of grains, so after the SHTF and you need some beans, rice, flour or corn meal, bring me some of that worthless gold and I'll let you have some. I think I read on an earlier post that the exchange rate would be a loaf of bread for a wheel barrel full of gold.:2thumb::congrat:
     
  17. mosquitomountainman

    mosquitomountainman I invented the internet. :rofl:

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    PM's are great to have as long as you have your needs met. So ... once you've got yourself taken care of in such a way that you can take care of yourself ... forever ... then build up your supply of PM's.
     
  18. UncleJoe

    UncleJoe Well-Known Member

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    Gotta remember to not do any trading in Arkansas if I ever run out of grains. :eek: ;)

    I'm still adding to my grain storage. If the time comes, that's the way I'll start my PM stash. :)
     
  19. hank2222

    hank2222 Active Member

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    what going to happen after few years have gone by and the local goverment of the city or the country now is working and they looking for ways to bring the money into the coffers for the area..

    and belive me they are going to be wanting some form of payment for back taxs that are owned for the land that you own so what are you going to do when they come knocking on the door about makeing a payement on this year taxs that you own to the area government .

    this way i have a stash of silver or gold coins to make a deal here or there if i have to pay back taxs with a small gold or silver coin to make a deal with them
     
  20. nj_m715

    nj_m715 www.veggear.blogspot.com

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    If you are talking about them collecting back taxes after a total break down situation, I'll tell them to pound sand. My tax dollars are for the services the town provides, school, fire, police, roads, trash collection, etc. If they haven't provided any services to me, I will not be paying. At least not without a court battle.

    If their services continue I have no problem paying my fair share, but I'm not handing over money and getting nothing in return for it.