Perspective on Precious Metals.

[pkveazey]

I watched a VIDEO yesterday where some expert had calculated how much Currency existed in the whole world and how much Gold existed in the whole world and when he divided the total Gold into the total Currency, it came out to $13,500 per ounce. Then I decided to figure out how much Silver should be worth. Since there is 9 to 10 times more Silver in the world than Gold, then Silver should be worth about 1/10th of what Gold is worth. That would come out to be about $1,350 per ounce for Silver. If everybody keeps printing more and more currency, those Figures are just going to go up and up. When the SHTF and people no longer trust their currency, that Gold and Silver is going to be nice to have. I keep seeing the major banks telling people to not buy physical Gold and Silver because its a bad investment. All the while, they are buying Gold and Silver by the ton. Hmmmm..... Do they know something that we don't know and they are just waiting for the currency collapse? Did you know that Gold and Silver are and have always been so valuable that Roman Solders were paid 1/10th of an ounce of Silver per day. That's about 10 cents a day. Did you know that Rome did the same thing to their coinage that we did. Yep, they started using less Silver in their coins and adding more Copper and Zinc just like we did in 1964.

[DMCakhunter]

US Debt Clock
https://www.usdebtclock.org/

[RB in GA]

Currency debasement (mixing lesser metals with gold/silver) has been around pretty much as long as coins have been minted by governments.  It's a great way to line the gov's pockets while scamming the citizen/subject/peon.   I wouldn't be surprised to see the government make owning gold and possibly silver illegal in the future.  It has happened in this country before (1933-gotta love FDR, the grandfather of American Socialism)

[Deathstyle]

Also keep in mind ppl argue the silver price is being kept down and should swap prices w gold since apparently there is less silver and they keep finding gold mines.

And we are not factoring the fraud banks are committing on ppl that dont hold physical silver, just paper certificates.

[Jackalope]

    Precious metals certainly have their place in preparedness, but you can't eat them, and they won't assist you or protect you until some semblance of civilization has returned.  in certain situations, precious metals could be a liability.  If civilization goes down a dark path, it could be a generation or two before precious metals have actual worth to people that have been scrambling to survive.  Investing in solid tools and basic weapons might be worthwhile too.

[pkveazey]

Precious metals are not and end all be all in prepping. They are just one more of the trade items that we will need to survive. Just like having extra food and ammo will be good trade items, Silver will be tradeable. Even if you don't smoke or drink, you probably should have some smokes and some beer in your trade goods. Innitially, when the SHTF, Silver will not be what people want. That will come a bit later when Currency is totally worthless and people start looking for a stable medium of exchange. I don't need 25 radio transceivers but they will become very valuable if and when the lights go out and there is no Internet or cell phone service. I plan to be the radio go to guy when that happens. I am already hearing about rolling blackouts, so I have my generator and solar power and will be able to trade power to people so they can recharge their electronic equipment. For about $15 people can buy a small 12" X 5" solar panel from Harbor Freight that will work great for recharging batteries but it is almost impossible to get people to buy one. I have one in my car that I can use to trickle charge my car battery if it goes dead. At the moment, I'm too lazy to connect it to my extra riding mower to keep the battery charged up. I find it easier to just use the SUV to jump start it if I need it. I hear "you can't eat Silver and Gold" all the time. Hell, I can't eat my tools and cigarettes either but I have enough to trade for goods and services.

[JohnyMac]

Food for thought. With inflation amongst us, buy commodities at todays prices. Tomorrow they will be higher. Case in point...

My 40-year old, 4-foot wide, cat. 1, 3-point rototiller died. I went out and bought a $2,400- new rototiller at Tractor Supply. They were also offering 12-months same as cash. I was at TS Thursday and the tiller I bought (5-foot wide, cat 1, 3-point) price was now $2,695-.

Need a freezer, refrigerator, farm implement, other; do not put off till tomorrow. Buy today.