WHY I Dont Invest in Gold/Silver

This may get you upset but its the way I see it. People have been told it is a hedge against "Econoimic Collapse" but nothing from could be further from the truth. Lack of debt is the best hedge against collapse. Gold is a great investment for comfortable retirement (use to be) but so is land and Colt revolvers you bought in the 70's. In and economic collapse Gold/Silver cant be eaten cant be use for shelter and no one will give you a gallon of gas for it because there isnt enough gas to go around. However the biggest reason that gold wont be worth anything is because YOU WONT HAVE ANY! Look at the linkes....

en.wikipedia.org...
www.forbes.com...
skinnyreporter.com...

Think about it from the governments pespective. Wait and let gold get to some over inflated price like $3000 an ounce and then pull an FDR. But just so there isnt a open revolt give the owners a fair market price of say $750 and ounce with assurancnes that the economy will stabalize and they wont really be out anything. Then pay off the debt, re-value the dollar to the "NEW" gold standard and Boom the budget id BALANCED.
However, in the mean time, the country is in a depression where a dollar wont buy anything. I was in Brazil in the 80's when they were balancing their budget and printing new fiat money. Stores wouldn't even take the old cuzerios. I had what should have been several hundred dollars on me but it wouldnt buy a Coke!
So instead I invest in those things which got people through the last depression, Food, land, ammo, friends, guns, trade items.
I plan on working till I die (at least part time) but if I ever want to retire and move to Alaska I'll have the biggest Yard Sell in history. Do you Know what a Colt Anaconda in 45 goes for? $15000. Beat that for a $500 investment.

There is more than gold to secure your future, just saying.
Think about it. Would you trade an ounce of gold for a cup of rice, if there was nothing to eat? Would you let your children starve because you traded a case of ravioli for a pound of sterling..... Huuum, doubt it.
Just be careful what you "buy into"

By the way I got some Iraq Dinars if anybody wants them...Yea I use to fall for the hype also......LOL

Next Im going to put in a pond and stock it.

JMO

reply to post by CSBowie


When you were in Brazil would it have been better to have a few ounces of gold, thousands of cuzerios, or a pond?

Aquaponics would be a good thing to have for your pond...depending on where you live of course.
It doesn't hurt to have silver and gold. I have been collecting silver, not because I believe it will be worth more than food, but because there are fools that would trade it for food or other goods. Oooohh! Something shiny! My precious! There will also be those people!

There is a massive fee for selling gold, I think just this fee alone is 28%. This complicates making a profit on gold unless your gold goes up more than 50% which is just enough to start breaking even.


"the IRS treats gold, silver, and other precious metals as "collectibles," which don't qualify for the 15% maximum tax rate on long-term capital gains. Instead, gains on precious-metal ETFs that you've held for more than one year are taxed at your ordinary income rate, up to a maximum of 28%. If you hold the ETF for less than a year, gains will be taxed at income rates up to 35%."

reply to post by CSBowie


Thank you!!!
I have been thinking that for a long time, but so many wiser people on here have been saying how important it is to have silver and gold. Then there is that survivor... something show on tv, and they always show people saving gold and silver for future barter.

I had always thought... what good is that really? You can't eat gold. If it were really bad, and someone tried to buy my food for gold, there is no way I would do that. Then what would happen? I can sit and look at my gold and starve. I would think having a surplus of things that people actually would want for basic survival, would be worth much more in a barter society.

I like your common sense approach - to have little debt and enough supplies to survive. And you are right - if nothing happens, and it is time to start cashing in your retirement nest egg, you can always sell your things in the future. People will buy almost anything on ebay.

Colt anacondas go for on the high end maybe 2500, most sell for 1100 to 1500 range. 15000?

Still, your point is a valid one. Gold will be tough to trade with in a barter economy, better to have the goods people will want.

Gold and silver:
-Can't be eaten
-Can't be drunk
-Doesn't heal, cure nor treat illness nor injury
-Can't provide shelter
-Can't provide heat
-Doesn't provide for defense
-Etc, etc, etc...

I do not have gold or silver, nor would I trade any preps that I currently have for gold or silver. To me, it is a worthless mineral - albeit it looks pretty - to me, it is worthless in a survival scenario.

Barter items worth having that are FAR cheaper than gold or silver include:
-Alcohol
-Tobacco
-Ammunition
-Extra food items
-Medicines, first aid supplies
-Knives
-Etc, etc, etc...

People sinking their money into gold and silver need to be sure of a few things:
-That you are taking physical possession of said gold and silver; certificates are WORTHLESS!
-That you already have enough survival supplies to give you the luxury of frittering away your resources on gold or silver
-That you have a stronghold to store it in

These are just my opinions. But I know enough preppers to state confidently that NO ONE I know is willing to trade a single prep for any amount of gold or silver in a survival situation.

reply to post by CSBowie

If gold is so "worthless" why have the Rothschilds built underground bunkers storing it and why do their central banks hoard it?

And how is $750 an ounce "fair market price" when gold in your example is selling for $3000 an ounce...

You even cited FDR's gold confiscation, which by the way was an order to turn our gold over to the "Federal Reserve" not to the government. Can you say government take over?

Wonder why our government would order the confiscation (under the penalty of imprisonment) of such worthless crap?

The government could NEVER get away with confiscation in today's environment. Impossible

And yes store-able food is a must. As far as buying land, thats a tiny bit more expensive than gold and silver...

reply to post by Templeton


Actually my .45 and an Antartica Beer (type) a ounce of gold would have got me killed, cash was useless, I was in the city and didn't have a shovel. But really? My Friends, gave me shelter, food and held me over till I could make arrangements to get american cash in my hand.

If # hits the fan then bullets will be a new currency.

reply to post by BlueAjah


Have fun trying to trade your perishable tomatoes for some penicillin when everyone else is using tomatoes too. What is penicillin guy supposed to do, take all the trades even though most of it will rot? You might be able to trade your tomatoes for some linen or something and then use that to get you medicine. Unless penicillin guy already has enough linen. You could very well die while finding something penicillin guy wants. Now contrast that to bring able to offer him gold which he can use for whatever he wants without fear of rotting or overabundance.

reply to post by CSBowie

However, in the mean time, the country is in a depression where a dollar wont buy anything.

While that paper shuffling scenario you describe is going on people will still need to eat. Local farmers markets will explode in popularity. I will be there selling... if you bring me a bucket of cash, I will laugh. If you bring me a "tangible asset" or something with "intrinsic value", like a box of .22 or 12 gauge ammo, a bit of gold chain or earrings, or a silver coin.

You would be amazed what will happen to "currency". Gold and silver (in easily recognizable forms) are just one item that will be prevalent as "trade items" during a crash. Don't have any, any at all?

Oh well (grins), next customer.

reply to post by gladtobehere


The government would order the confiscation of gold because they have the means and ability to trade outside of the US with it and in the amounts that other countries would be interested in. Other countries also are interested in gold. For the average middle income person, they would not have enough gold in order to garner any interest from outside the US or (insert country here). If the SHTF for real, gold would do nothing for you besides the reason I already stated above...that or to have it taken by the government.

Liquor is a pretty safe investment. ( If you don't drink it) It would be one of the best bartering tools. During the great depression it was the one thing that made gobs of money.

Yes gold is an awful investment so if anyone want to get rid of their terrible investments very cheap please send me a message.

reply to post by intrptr


Those local farmers market vendors have to apply for licensing and pay for fees.

reply to post by Templeton


Who's going to accept gold when you are starving/need shelter/need goods?
Iran and Pakistan bartered to get around sanctions. Pakistan needed Iron ore and fertilizer, Iran needed wheat. No shiny metal valued for it's rarity needed. Just goods that the other needed.

reply to post by gladtobehere


Your point being? You lost me cause Im slow. You still cant eat it, no one will trade you squat for it unless they have a bunker full of beans and ammo and they see the end in sight. Sure If you can wait it out for a couple dozen years while the Government decides to let you Sell it again then it will be worth something. I just know if I can wait for their permission.....As far as the powers to be storing it in bunkers..isnt that who we are talking about or is their another "government" out there.....Feel like were just playing with words...Fed Reserve, Fed Government, Bildies, UN, whatever...It aint the regular folks and thats whos gonna get screwed.

reply to post by BlueAjah


You are talking two different types of collapse. If you are talking mad max, total collapse, then by all means go for food, water, and fuel. If you are talking dollar collapse with the prospect of a still functioning govt scrambling to create a new system then you're best off with silver and gold because people are going to be selling everything trying to hoard it up for when things straighten up and silver and gold are through the roof. Good for a sort of semi collapse, not a situation where everyone is starving. I think silver is a good thing to investin and always will. It has value because it is used in sooo many things it would be fundamental in rebuilding. Gold, while more expensive is outperformed by silver, but it also has it's uses and is used in most all computers, and cell phones, etc. It's been valued for thousands of years, and that won't ever stop.

reply to post by kozmo

People would do well to take a lesson from history. The Atocha treasure ship discovered by Mel Fisher had yards and yards of gold chain in its hold. This chain was worn around the neck and wrapped aorund the body under garments. It was a ready made, easily identifiable and (precious) metal. Its where we get the word precious metal from. Food spoils, and other trade goods are bulky. This was one way of traveling the countryside with unseen wealth at the ready to levy at every tavern and market one encountered.

Gold chains