A question for those buying gold for SHTF

[moosensquirrel]

Well, there came a point in human history where we needed a medium of exchange that didn't involve carrying 10 big sacks of wheat to market.Money has to have several characteristics.

Fungibility: its individual units must be capable of mutual substitution (i.e., interchangeability)
Durability: able to withstand repeated use
Portability: easily carried and transported
Cognizability: its value must be easily identified
Stability of value: its value should not fluctuate.

Gold has those characteristics. And you can't make more of it. Government can't print it. It is not infallible though. Government can produce coins with less and less gold and more filler. This happened in Athens way back when.

As to whether I think it's good for shtf? I'd rather have the stuff and skills people will eventually give me gold for in the recovery. I could see investing in it once I had everything I needed but that's a never ending list so I don't. It's not a bad investment when compared to the dollar. The dollar has lost 95% of its value in the past 100 or so years. Not a great way to store wealth.

If you are groaning at this point of the post remember you asked .

With gold and silver, you have a prayer: Fiat currency...nothing but air

 

[moosensquirrel]

There is only one now when it is convenient to the powers that be. It's good to note it is written there because it leads to the question, "why is it written there?". The reason is that fiat currency's are a form of slavery. Granted, our chains rest very lightly and we enjoy a better standard of living than any slaves in history but that doesn't change that we are slaves.

Gold is the money of kings
Silver is the money of gentlemen
Barter is the money of peasants
Debt is the money of slaves

 

[CBH13]

also here is a grey area question. Say silver and gold do hold value in the SHTF situation. Do you think there will be a way to tell purity?

Would it be smarter to buy a **** load of low percentage gold as you can get it easier right now and there may not be able to tell the difference in the future.

You can get a **** load of fake chinese silver for next to nothing and without acid tests alot of them can be hard to spot.

 

[moosensquirrel]

Out of curiosity, how are you quantifying gold's value? I don't think the value of gold has fluctuated at all. Only thing that has fluctuated is the value of the dollar. For ex, if back in the 70's an oz of gold was $400 and today its $2000, is the gold worth more or is the dollar just worth less? I'm thinking the latter is more accurate.

yes; according to shadowstats, $400 in currency in 1975 equates to $1415 today. However, that's currency. Gold is not currency, but real money.

Gold and silver in your possession (with your mouth closed and not boasting to the world that you have it) have two additional qualities over and above what has been previously stated.

1. it has no counter party risk
2. it is beyond Government reach

http://www.shadowstats.com/inflation_calculator?amount1=400&y1=1979&m1=7&y2=2020&m2=7&calc=Find+Out

 

[Ken Ford]

Out of curiosity, how are you quantifying gold's value? I don't think the value of gold has fluctuated at all. Only thing that has fluctuated is the value of the dollar. For ex, if back in the 70's an oz of gold was $400 and today its $2000, is the gold worth more or is the dollar just worth less? I'm thinking the latter is more accurate.

I think most of you promoting gold are expecting that life pretty much goes on as today with just financial disruption. In that case gold is supreme. But that’s not what being discussed.
If things get even near as bad as I fear your gold coin worth $2055 at today’s price won’t be worth a lite meal for your 4 member family a month into a real crisis.
First few weeks gold will be excepted as barter, but when the opportunists realize they can’t eat it the value will plummet.
As society depending on what form it re establish’s itself then gold stockpiles will be invaluable for rebuilding wealth or whatever.
Gold is a long term strategy, but for short term crisis use its would be nearly valueless.
Ammo, liquor, and recent history has shown TP to be what you will need before gold.
I’m not saying it isn’t good to have, but if you use it for barter expect the value to plummet. And probably if you do use it though the crisis you probably will draw attention from the wrong people and you won’t have it later.
Need to keep that stash hidden well.

 

[wtfismyname]

IMO, gold is only good to store value for the long term. You should have EVERYTHING you need to survive prior to investing heavily in it: long term food and water, security, communication, community, medical, etc. In a starving world, no one is going to trade you food for gold.

Don't be so sure about the food for gold thing. Check out Germany right after WWII and how "hamsters" would go out into the countryside on trains to barter with farmers for food. I always have extra food. But never enough extra gold IMO.

 

[CBH13]

also one thing that seems to be forgotten alot, medicine. When you cant go to the doc those with medical supplies will be kings. Alot of folks forget you used to be able to get taken out by a small cut back in the day.

and you dont need a prescription to buy animal antibiotics.

 

[biker_bill]

also one thing that seems to be forgotten alot, medicine. When you cant go to the doc those with medical supplies will be kings. Alot of folks forget you used to be able to get taken out by a small cut back in the day.

and you dont need a prescription to buy animal antibiotics.

I already told the Doc that when I show up not to struggle.
Keep those shots up to date, especially the tetanus shot.
(Good for 10 years now, cheap insurance)!

 

[Baldilox]

I'm sure he could have bought the mob off with a little gold.

Works for Soros.

 

[allamericaninfidel]

I think most of you promoting gold are expecting that life pretty much goes on as today with just financial disruption. In that case gold is supreme. But that’s not what being discussed.
If things get even near as bad as I fear your gold coin worth $2055 at today’s price won’t be worth a lite meal for your 4 member family a month into a real crisis.
First few weeks gold will be excepted as barter, but when the opportunists realize they can’t eat it the value will plummet.
As society depending on what form it re establish’s itself then gold stockpiles will be invaluable for rebuilding wealth or whatever.
Gold is a long term strategy, but for short term crisis use its would be nearly valueless.
Ammo, gold, liquor, and recent history has shown TP to be what you will need before gold.
I’m not saying it isn’t good to have, but if you use it for barter expect the value to plummet. And probably if you do use it though the crisis you probably will draw attention from the wrong people and you won’t have it later.
Need to keep that stash hidden well.

100% this ^

I have brass lead and liquor available for barter among other things and I will accept gold and silver however as you say it may be pennies on the dollar because I’ll be speculating on when or if it ever would come back

Gold is not a prep until everything else is covered in duplicates to the point that it is available for barter in my opinion

As far as any “stashes” go - Never keep all your eggs in one basket & have sacrificial caches where possible