Who is Going to Eat Gold?

[moosensquirrel]

In a power outage situation, what you don't physically possess is no longer yours. Think everything from stocks, bitcoin, checking account, electronically stored documents, etc. In a real bad situation, precious metals, diamonds, etc will be worthless. Things that will have value will be food, water, medicine/medical gear, fuel for a while, manual tools, weapons, and people you can count on.

Well said. However, true precious metals, especially gold, will never be worthless, but should not be the only preparation for a currency failure. except for their well documented use in industrial abrasives, etc, Diamonds are a "greater fool" invention by DeBeers.

 

[Huey Deer Processing]

Most people in my generation are getting into Bitcoin and other cryptocurrency but like everyone has said previously I see it as being unstable in emergency and prefer to be able to touch and hold my investments. Nothing wrong with gold and silver but I still think guns and ammo are the best investment you can make but diversity is key.

 

[41mag]

Gold, silver & lead over bitcoin/etc., any day of the week and twice on weekends.
As said above, in a total SHTF days …. That electronic stuff will be unheard of.
If you have extra savings, cash, liquid type assets….get the pantry stocked real well, stock your ammo/weapons, then do gold, silver and lead for “currency” trading.

 

[Ken Ford]

Well said. However, true precious metals, especially gold, will never be worthless, but should not be the only preparation for a currency failure. except for their well documented use in industrial abrasives, etc, Diamonds are a "greater fool" invention by DeBeers.

More expensive stuff like Gold and silver is for when you start to rebuild or restart society, as trade or barter starts being common.

 

[Gaffer1968]

Well said. However, true precious metals, especially gold, will never be worthless, but should not be the only preparation for a currency failure. except for their well documented use in industrial abrasives, etc, Diamonds are a "greater fool" invention by DeBeers.

And yet, while they have 'value,' you can be 'relieved' of that value by someone with 22LRs or bigger (if you don't have same).... :0)

 

[41mag]

And yet, while they have 'value,' you can be 'relieved' of that value by someone with 22LRs or bigger (if you don't have same).... :0)

True , but that can be said about anything material.

 

[RiverBend]

well I bought Gold back in 97-99 for less than $300 an Oz, imagine how many Oz there was,,,, then, I
sold the whole kitco kaboodle a month ago for spot, gladly since spot increased roughly 600%, an offer I just couldn't refure.

 

[Ken Ford]

True , but that can be said about anything material.

Not like anyone’s never been forced to give up passwords or titles in the past. You only own what you can protect.

 

[Seacap]

Main thing is to always diversify, never put all your eggs in one basket.

Yea, but guns...lol

 

[rbstern]

Try that with bitcoin.