posted on Jun, 21 2017 @ 08:26 AM
This has been on my mind for some time, and I've been thinking about making a post asking for input.
Here's where I stand:
I woke up to the reality of our global (and especially local) financial fiat problem about three, maybe four years ago.
My first reaction was panic- bought some dry foods and ammo, stored it away... but I never had much money.
I owned a house- and I was in the city. Never cared for it there, but that's where I was.
Fast forward, I'm selling the house. In a few days I'll have a check for my hard times in the city, and I'm going to be sitting on a pile of US
dollars in a world where I feel like they could be worth less than toilet paper overnight.
The idea is to buy land- but it'll be a year or more before I can transition that.
It would also be nice to get something out of it should the market not collapse.
So, the old standby is metal. It's been going down in value lately
I can't swing much gold, but I could buy silver.
If the SHTF, would coins be more useful than bars? ampmex sells 1oz bars that are marked, they seem just as useful as coins- and could be cut in half
if you needed a half ounce for change.
Or I guess I could just buy coins of different sizes.
The problem there is that many of these coins and bars cost 10% over metal value, and 15% over resale back to the market. Dropping $1000 on silver
means getting $900 worth of silver... so unless the value goes up 10% by the time you need to cash out, you won't even break even- so I'm probably
only going to hold onto a stash of silver for just in case dollars do fail.
Here's my take.
We've all heard of bitcoin by now. A year ago I said it would settle around $500- but now they've made it legal in japan and are talking about a
hard fork... I think it could go either way in the next year, but in the end I think it will be replaced, and become worthless.
There are coins better suited to what bitcoin has become... so I'm thinking of just buying $100 worth of any coin that was created as more than just
a joke. The problem with that is there are almost 1000 different coins out there, totaling more money than I'd even have from the sale.
But maybe $10 worth of all currencies worth less than $1. It'd be a ten grand gamble, but only one coin would need to really take off to make it pay
Seeds? Worth nothing unless the market collapses, which is a real fear of mine.
Stocks and bonds? No safer than a safety deposit box full of cash.
What do the financial savvy members of ATS think?