WHY I Dont Invest in Gold/Silver

Originally posted by CosmicCitizen
I read the other day that the average cost of a custom made suit is $1295. Gold has historically kept pace with the cost of a custom made man's suit. Given the geo-econo-politics of the last few years we have overshot that by quite a bit....and now may be in a position to retest that metric which could be a floor (but cant rule out overshooting to the downside either).

Soooo....you are saying that I should go invest in 100+ mens suits as they are set to skyrocket in value!?

(sorry, I'm in a good mood so I joke)

reply to post by CosmicCitizen


AH, I realy feel ignorant right now are you saying I should NOT give my suits to GoodWill but keep them? Even the tweed? Hate that one. Smart people give me a head ache.

But really how shallow a menatlity does a civilization have when they watch the prices of mens suit? Think we were better off a couple hundred years ago. Maybe.....I buying more beans....this country has to collapse, we got no were else to go.

reply to post by CSBowie


S+F!

My feelings exactly...

I don't know if anyone mentioned this I have yet to read through the whole thread, if they have I'll delete my post.

Silver is an antibacterial agent. It can keep sealed water potable for months. Before the age of steam power / diesel, it was often stored in the bottom of barrels of water, wine, and beer in order to keep it fresh over long voyages. That probably makes it one of the most useful substances on the planet.

reply to post by DigitalRX


Seriously? but it decays in Salt water. I KNow this because I was all caught up in the Fisher treasure hunting madness or the 70's. The residue from the decay must be what perserves?


By the way, good Thread,

Originally posted by CSBowie
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

Ever heard of Bitcoin?
That is the new "gold"- and yes there is a gold rush as we speak - 1 bitcoin =$73.77 us ..now
bitcoinity.org...

Read..get informed ..just sayin ...

11 years ago, I purchased a little over $5k in gold for around $400.00 an oz. I cashed in all my gold 5 months ago at around 1,600.00 an oz. My profit was around 12k.

Personally, I think gold will come back down. Maybe not at $400.00 an oz, but maybe around $700.00 an oz.

IMO…..Don’t invest in gold! Unless on the short term…

Originally posted by IknowJack
reply to post by DigitalRX

 

Seriously? but it decays in Salt water. I KNow this because I was all caught up in the Fisher treasure hunting madness or the 70's. The residue from the decay must be what perserves?


By the way, good Thread,

Yea I'm not sure what causes it to act as an antibacterial but, it does a decent job of it. It decays in moisture in general, but it takes hundreds / thousands of years under normal conditions. I would never dump all of my money into silver but I have invested in physical silver and thus far am happy with my returns.

I was just having this conversation with a couple buddies....let's say you buy and put away some gold. The SHTF and you think, I'm ok, I've got gold! Let's say paper money is so worthless, no body wants it to buy food, gas etc...you of course pull out lets say a 1/2 oz gold coin and try to go get some provisions. Yeah the will accept it! It's worth a $1000! What will you get for it? A loaf of bread and a couple gallons of water? Possibly a tank of gas? Not really a good trade. Gold isnt realistic in a bartering in any real scenario I can imagine. I would not say its worthless, in fact, it's worth too much for simple day to day needs.
I think in a real SHTF scenario, have goods to barter with are far better suited than precious metals. I think we see things in our day to day lives, this way of doing business really (IMHO) isn't the way it would really be.

reply to post by Nairda

How exactly is bitcoin going to help in a SHTF scenario?

Originally posted by Hr2burn
I was just having this conversation with a couple buddies....let's say you buy and put away some gold. The SHTF and you think, I'm ok, I've got gold! Let's say paper money is so worthless, no body wants it to buy food, gas etc...you of course pull out lets say a 1/2 oz gold coin and try to go get some provisions. Yeah the will accept it! It's worth a $1000! What will you get for it? A loaf of bread and a couple gallons of water? Possibly a tank of gas? Not really a good trade. Gold isnt realistic in a bartering in any real scenario I can imagine. I would not say its worthless, in fact, it's worth too much for simple day to day needs.
I think in a real SHTF scenario, have goods to barter with are far better suited than precious metals. I think we see things in our day to day lives, this way of doing business really (IMHO) isn't the way it would really be.

well why would you ONLY buy gold.... that is as bad an idea as those who would ONLY buy guns, or ONLY buy bottles water.
are you all just really dumb when it comes to preparing? this is like common sense here. you are debating a situation where people only buy gold. but there are no people like that, that exist.

I always laugh when people talk about gold or commodities investing. If its not physical gold, silver, etc then it's worthless when the shat hits the fan. Paper investing is fine during times of non economic collapse.

reply to post by Bisman


What I got from the OP was that they were saying why sink your money in shiny metal when you can actually use that money to buy items you would need, like water filters, solar panels, etc.

reply to post by caterpillage


I also have been stating that there are "now" (price of gold is too inflated) other things better to invest into as a safeguard. But I disagree that gold (and other metals) has no place in a barter economy and this is historically proven, on the other hand it may depend on how far civilization goes down the drain, you may do as well with salt or sea shell (ps: there is still a society I believe in Indonesia that uses mostly sea shell and pig tusks IIRC).

I don't believe that we will drop so far, even if we start a global nuclear war, industry will collapse and some knowledge will be lost but it would have to be a very extreme calamity to put us behind the steam engine and with that the capability of using gold as possible currency base. Even if I believe other metals will be first more important and tradable, like coper (for electrical and communication restoration), even today people risk their lives for coper. Fuel and coal will also have a higher demand especially after the first post catastrophe generations if knowledge and infrastructures are not maintained.

In fact knowledge preservation and trade in its application will be the most important thing one will have, even knowing medicine and dentistry will put you above the rest of the populace, it is not by chance than when the flue virus become a pandemic the shots were prioritized for "special sections" of society...

My own view is this:

"Bullets are a poor man's gold."

Just what type of collapse are we talking about here? The end of the dollar?The end of the USA?The end of oil?The end of the world?

Doom is not a one size fits all event.
A 1km asteroid hitting earth requires a different set of gear than say a bank run.

But,whatever the doom of the day,the biggest problem will be a feeling of helplessness.So have a few guns,a few gallons,a few coins.And a few options. Keeping in mind that all of our lives have an expiration date.

Originally posted by gladtobehere
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...

edit on 24-3-2013 by gladtobehere because: (no reason given)

Thank you.
When you "buy" gold you are actually trading worthless scrip for real money.
Gold is the only real money, silver and platinum take on a lesser role.
And I would take gold for rice if I did not like rice but wanted to buy something else.
A collapse is a mathematical certainly, obama is running up the credit card to make sure it happens.
Thats been the plan all along.
And if you think gold is worthless, try putting all of your "preps" in a pocket when you go trading

reply to post by steven2977


Gold is only "real money" if it is worth something to someone else. In a SHTF scenario...it may very well end up being so many paperweights. My point is that the purchasing power of $1500 worth of gold, will not have the same purchasing power after a SHTF scenario, even IF you find someone willing to trade for it. Meanwhile, my $40 carton of cigarettes may get me a formerly $500 handgun.

Originally posted by DigitalRX
I don't know if anyone mentioned this I have yet to read through the whole thread, if they have I'll delete my post.

Silver is an antibacterial agent. It can keep sealed water potable for months. Before the age of steam power / diesel, it was often stored in the bottom of barrels of water, wine, and beer in order to keep it fresh over long voyages. That probably makes it one of the most useful substances on the planet.

edit on 25-3-2013 by DigitalRX because: Added more info

You have to remember that practices like this caused a lot of genetic diseases. Silver is good as a microbial but too much is also no good. Same with copper. any strong electrolyte is a good microbial in the body, they can keep bacteria from overpowering the body. Ions like Iodine, chlorine, bromides, and fluorides also act as microbials but if out of balance or in the wrong form can cause major problems. We need minerals in the body at proper concentrations to balance our system and remain healthy and think correctly.

You are right though, silver has more real value than gold. Gold also has some antimicrobial action but is only a surface killer, it does not dissolve into the mixture.

reply to post by Knives4eyes


yes the tax on gold sales is 28% but that excludes basic gold coins like the gold Eagles.