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Hyperinflation + Gold and Silver: What am I missing?

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posted on Apr, 23 2011 @ 02:27 PM
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Heard a few financial experts telling us to buy gold and silver for when hyperinflation renders all currencies worthless. What I don't get is, what good will gold and silver do if this happens? Are we supposed to slice off a chunk of gold and bring it to the store to buy food?

If someone wanted to trade gold or silver for my box of macaroni, right now my thinking is I'd keep the macaroni. What am I missing here?




posted on Apr, 23 2011 @ 02:30 PM
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Aside from supplementals...food etc...These metals will hold value as tradables,better than fiat currency....simple.
Take care of the larder first of all though....



posted on Apr, 23 2011 @ 02:31 PM
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reply to post by jiggerj
 


I think about this alot cause I own silver. I would have much rathered buy land or something instead of silver but I just dont have the cash. Although the value of my silver has gone up in terms of cash.

I'm not sure how it would work. All I know is, people have been trading gold and silver for a long time. We are so used to Cash that its hard to think how it would work otherwise. I read somewhere that when Argentina's economy collapsed people did trade silver for things.



posted on Apr, 23 2011 @ 02:38 PM
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I'm with you...what anything is worth is what you value it at.... if you think macaroni is worth more than a sliver of gold... that's what it is worth... now if you needed a gold tooth from eating too much macaroni... you may think differently...
... then again paper money doesn't even make good toilet paper... so what is it worth to you...



posted on Apr, 23 2011 @ 02:44 PM
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I know what I'm missing... That's my gold and silver. Doh.



posted on Apr, 23 2011 @ 02:47 PM
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The most commonly collected U.S. junk silver coins are the Mercury dimes and Roosevelt dimes, Washington quarters, and Franklin half dollars, and Kennedy half dollars, which are minted in or before 1964. These coins have a 90% silver composition (“coin silver”).

To me junk silver is the best investment, it's recognized as valuable. Whereas, a .999 troy oz, most people would question as to the legitimacy in post collapse.

I think investing in skills, supplies, knowledge, and post collapse occupations are good investments.

However, I have to assume we can't think of everything, and that's where the silver comes in. Being able to trade junk silver for the things we might need or not have thought of in post collapse.



posted on Apr, 23 2011 @ 02:50 PM
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reply to post by jiggerj
 


Yeppers, were all missing something here.
Like Mayabong said,
"I would have much rathered buy land or something instead of silver".
With land you can have a place to plant your feet and rest your head, you can also use it to make your own food in a worst case scenario.
I don't buy into any of the hype, land, guns, food, friends, water.
Let them have all of the gold in the world, some of the things on my list cannot be bought with gold in a worst case scenario.

My best guess would be there is something brewing and gold and silver will bottom out somehow, then what have you got.
Don't ask me how as i do not really know, but i do know what i need not to survive but to "LIVE".
And it ain't gold or silver....well maybe some colloidal silver.



posted on Apr, 23 2011 @ 03:13 PM
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First a tip: buy only physical gold and silver, buy it for cash only, no credit/debit or check. You have to keep it untraceable. Do not give your name. Pay in cold hard cash. I bought several hundred ounces that way locally. If you haven't prepared as yet and take the "I should do that someday" or "well, we'll see....." then it's already too late. So if that's the point of the thread, well it's an academic exercise at this point.

Look at this way.

Okay, the economy collapses. It's gone, fallen apart, hyperinflation is typical, around 300% a month. That loaf of bread when you went to work was 4 bucks. After work it's 4.50. So your money is worthless and it's going to be some time before the idiots in Washington figure out how they're going to screw us this time.

You need gasoline - really need it to generate electricity. At the gas station, the owner is taking three items in payment and only three. Silver or gold coins or food for his family. That's it until a new currency is developed. That's why you need four items to survive:

1. Food/water. One year for each person, bare minimum.
2. Protection. Guns, bow, knives.
3. Barter items. Tobacco, whiskey, coffee.
4. Precious metals. Silver or gold coins and bulk silver or gold.

You need a mixture of bulk (ingots) and coins because once the government figures out how to screw us this time, you'll be better off if you have those precious metals to trade for the new monopoly money that they're going to throw at you.

Let's take another example. The farmer down the road has eggs (that's the rumor anyways and it's a land rush to get to him for a few eggs). Trouble is, he has all the coffee and food he needs. He's got a still out back. His family has everyone covered so it's no use begging or you'll be fertilizer. It's that kind of world. However, he will let you have a dozen for a few silver or one gold coin. He can use that commodity for another - like fuel for the tractor.

Another example: Knock, knock. The National Guard is at the door with the banker. Pay off the house now or leave. Now. No eviction process, no time. Out. Now. Do not take anything with you, leave it all inside. It's that kind of world. However, we'll take 500 ounces of gold or 1000 or silver as the payoff.

That's why you need gold and silver.

Because sure as that UFO is a reflection in the window, you ain't going to get a dollars worth of the new money for the old. But gold and silver, well now that's another story. Come here son, to the head of the line. So precious metals will be your way out of abject third world waiting for the UN to deliver rice soup poverty.



posted on Apr, 23 2011 @ 03:28 PM
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Originally posted by wearewatchingyouman
I'm with you...what anything is worth is what you value it at.... if you think macaroni is worth more than a sliver of gold... that's what it is worth...


I see this conversation taking place, hopefully in the not too near future:

RICH GUY: I have 800 bars of gold and 2000 bars of silver. I'll give you two bars of silver for a can of beef stew.
BEEF STEW MAN: Two bars of silver, ya say? How about a can of peaches? I'll trade ya even, one can of peaches for one can of beef stew.
RICH GUY: Did you not hear me, man? I'm filthy RICH with precious metals! Okay, how about five silver bars for two cans of beef stew?
BEEF STEW MAN: Hmmm, I haven't had a tomato in a dog's age. Tell ya what, you give me five tomatoes and I'll give you three cans of beef stew; now THAT'S a bargain!
RICH GUY: ALL RIGHT, ALL RIGHT! One bar of GOLD for five cans of beef stew, but this is highway robbery!
BEEF STEW MAN: Tell ya what, the wife's on her monthly. You get me a bottle of Midol and I'll trade you a whole case of beef stew for it.
RICH GUY: AHHHHHHHHHHHHHHHH!



posted on Apr, 23 2011 @ 05:16 PM
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Originally posted by jiggerj

Originally posted by wearewatchingyouman
I'm with you...what anything is worth is what you value it at.... if you think macaroni is worth more than a sliver of gold... that's what it is worth...


I see this conversation taking place, hopefully in the not too near future:

RICH GUY: I have 800 bars of gold and 2000 bars of silver. I'll give you two bars of silver for a can of beef stew.
BEEF STEW MAN: Two bars of silver, ya say? How about a can of peaches? I'll trade ya even, one can of peaches for one can of beef stew.
RICH GUY: Did you not hear me, man? I'm filthy RICH with precious metals! Okay, how about five silver bars for two cans of beef stew?
BEEF STEW MAN: Hmmm, I haven't had a tomato in a dog's age. Tell ya what, you give me five tomatoes and I'll give you three cans of beef stew; now THAT'S a bargain!
RICH GUY: ALL RIGHT, ALL RIGHT! One bar of GOLD for five cans of beef stew, but this is highway robbery!
BEEF STEW MAN: Tell ya what, the wife's on her monthly. You get me a bottle of Midol and I'll trade you a whole case of beef stew for it.
RICH GUY: AHHHHHHHHHHHHHHHH!


RICH GUY MAN: DAMN IT! I'LL TRADE YOU FIVE BARS OF BLOODY GOLD FOR A CAN OF BEEF STEW! FAIR NOW?

BEEF STEW MAN: Nup, but hey, I'll trade you my wife for your wife for the weekend, deal?

RICH GUY MAN: DONE!!


Tough times demand creative trading measures. :p



posted on Apr, 23 2011 @ 09:37 PM
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The day gold has no value is the day I cast it into balls for my smokepole.



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