Who's buying silver these days?

"Of course, you could find someone who has some thing you want and pay in
silver. Maybe your neighbor has a boat for sale which he wants $2000,
that would only be 117ish in silver quarters.

So is there 117 dollars or so? If so its worth a boatload"

LOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOL

okay.. WTF?? I got tons of these around the house

f this sh1t of eating crap! I am gonna sell some and get me some KD!

im buying, what you selling?

I'll find out when I get home

as long as the kids never raided that one jar baba gave them.. its a 500g (or 1kg??) kraft cheeze whiz jar full. it weighs a pretty penny

damn.. it was nickels not quarters

Over a month since my last post on silver:

There is a reason that most silver "investors" fit the backwoods-9/11-truther-gun-toting-doomsday-prepper-profile.

This is a great buying opportunity at just below thirty an ounce IYAM

And theres a reason most people who buy into todays economy thinking it will never faulter are prefer stockmarket/subdivisionhousing/cnnwatching/neveraskwhatsgoingonbecauseihavetogotoyogawhilehusbanddrinksbudlightlimetypes

I am not a 911 truther, I dont own a gun, and I am not very prepped, but I do believe for every dawn there is a sunset, and that sooner than later the sun will set on fiat currency

but why would silver (or gold) be the go to currency then?

not currency dean, backing to the currency

well since you are never going to issue currency... why stockpile?

huh

Deank wrote:well since you are never going to issue currency... why stockpile?

The theory is that precious metals will be more stable in value than currency, so when the value of currency falls due to hyper-inflation those with stockpiles of precious metals will suddenly be wealthy because they will be able to trade it for large amounts of the inflated currency.

While in theory the logic makes sense, the conditions of it playing out that way aren't exactly that likely. We would literally need to be in a position where Canada intentionally inflated their currency like Mugabe did in Zimbabwe. Even then, in times of hyper inflation, those with equity heavy stock portfolios would do well also and the only real losers would be those holding large amounts of currency in a bank account.

Additionally, many of those buying precious metals right now may very well be buying at a very high price and we may see gold and silver drop considerably down to prices that match those of the 70s-80s.

Basically buying silver is one step ahead of storing cash in your mattress.

okay.. so the economy collapses.

So.. why would the "survivors" value, paper, gold or silver?

If the collapse is bad enough, money, gold and silver will be nothing other then coloured objects. Useless coloured objects.

Invest in alcohol and cigarettes and you will be able to buy anything.

Deank wrote:okay.. so the economy collapses.

So.. why would the "survivors" value, paper, gold or silver?

If the collapse is bad enough, money, gold and silver will be nothing other then coloured objects. Useless coloured objects.

Invest in alcohol and cigarettes and you will be able to buy anything.

The people that hoard silver/gold will tell you that it wont get THAT bad, just bad enough to make them wealthy. How convenient.

but how is there wealth if the money is "worthless"?

Here's what the prices of gold and silver did over the last few decades:. Gold - Silver

Compare today to 1980 and it'll tell you everything you need to know about the wisdom buying gold and silver. Remember kids, it's "buy low and sell high", not "buy high and sell low."

In medieval times and before, gold was the default form of wealth because there wasn't anything better. It was highly portable, wouldn't rot like other trade goods, was easy to melt and work with.

Now we have an advanced civilization. If it collapses, gold and silver won't take over. People will want gasoline and diesel fuel - which unlike medieval times would still be produced on a small scale. They'll want antibiotics and other drugs. They'll want generators - and motors out of appliances to be used as wind-driven generators. They'll want rechargable batteries - the big ones used to store that generated power - and the electronics used to turn it into 110 volts. They'll want guns and ammo. They'll want insulin. They'll want books - or ebooks - on any number of trades and professions that are less popular today. Canned goods and preserves - these didn't exist before.

There's countless things that would be far more in demand after a collapse. Things that weren't around before the industrial revolution.

Not that I expect any such collapse would happen. I *would* recommend being prepared for a Hurricane Katrina duration event - a major snow or wind storm taking down power lines could do it - with a lack of electricity, water, communications and grocery stores for 72 hours. You have no electricity to cook. You lose everything in your fridge and freezer, except what you can barbecue if you have one.

I believe gold and silver will be excellent barter mediums during those times.

For a thing to have abstract value - "shiny metal is a trade good because we declare it to be. It's worth X because everyone accepts it at that value" - you need a whole lot of long-term stability. In medieval times they had plenty of wars, but the farmers still kept farming. Ruling lines were often replaced - but there was always a ruling line. It was stable. Too stable, for a long time.

In a collapse of civilization you lose that stability. People want what will keep them alive. These days there are far too many options that weren't around before, for gold and silver to compete. Brass and lead are a better bet - in bullet form - as a currency. Or gasoline and diesel by the litre. Or alcohol.

With millions of electrical devices still around - many of them damned useful - home-made wind generators and whatnot will be valuable trade goods.

By the time things settle down enough for shiny metal to reestablish a value, civilization will almost by definition be returning.

I'd be more concerned with an unpredicted event than a storm-like scenario.

Storms (rain or snow) are typically predictable. Now and then there might be a day off, or it stalls briefly...but while it can do some damage...it isn't long-term...and though devastating in many ways...isn't insurmountable.

The more dangerous things would be comets/meteors striking the earth...though even those now are reasonably predictable based on the web of cameras and telescopes fixed in space now.

Earthquakes...mostly unpredictable...but again...a singular occurrence lasting a short time.

Volcano...limited locations...and mostly predictable based on previous explosions.

Drought...again...not entirely devastating for most...especially here in MB.

Flood...obviously...can cause some issues...but still...life goes on...

and that last statement is the key..."Natural" disasters are fleeting in the grand scheme. They come and go...leave a mess that we clean up and continue on with life. Even for those directly effected...once the mess is fixed...we go back to how we did things before. Go visit New Orleans today...aside from some extra walls being built...and some remnants of where they haven't cleaned up yet...there's not that much different. Bourbon street is still a party zone with topless women and beads in the streets.

What's truly going to cause long-term, wide-ranging devastation...would be disease/plague/etc...that is either manufactured or undiscovered. It will kill fast, and it will kill millions. And add to that the panic and uncertainty factor of those who will start killing & hoarding to "save themselves".

And...to get back on topic...will silver mean anything to them? Or gold? or Platinum? only if they can make weapons or medicine out of them.

exactly. so like I said before.. invest in alcohol.

http://en.m.wikipedia.org/wiki/Medical_uses_of_silver

Anti biotic resistant staph infected people might hurrah silver....

Or maybe a sip of colloidal silver? Just don't put it on yer skin!!!

Deank wrote:exactly. so like I said before.. invest in alcohol.

Sure. There was a time when men, women and children drank beer instead of water, because it was safer.

Its even biblical...

1 Tim 5:23

"Stop drinking only water, and use a little wine because of your stomach and your frequent illnesses."

How is silver doing these days? Have the prices started to drop yet?