Saturday, April 24, 2010

Should I, or shouldn't I? PMs



“Buy Gold!”
“Buy Silver!”

The reason (so the argument goes) that we are to buy gold and silver is that the dollar will soon “be worthless" and precious metals (PMs) will "hold their value".
Fine.

So if or when you Buy Gold! and Buy Silver! you are trading one medium of exchange (soon to be worthless paper dollars) for another (PMs).

When the "dollar becomes worthless" along with that will come hyper inflation.
Prices will skyrocket. Stuff will cost a lot more.
Stuff like shovels.
Stuff like clothing.
Stuff like food.

Your mortgage however will be suhweeeeet!.
Unless you lose your job.
And of course in times of economic turmoil that is a distinct possibility.

My advice is to sink some your EXTRA money into PMs
Extra after what?
Extra after taking care of you and yours.

Do you have a Big Berkey water filter? It costs the equivalent of about 3/10ths of an ounce of gold - now.
Do you have your pantry squared away? Do you have all the food you need?
A hungry man will not trade you a can of beans for your shiny PMs. Food will likely be UNavailable for awhile.
Does everyone in your family have THREE brand new pairs of boots socked away? What about good socks? If they don't, you need to spend your "soon to be worthless dollars" on them rather than PMs.
Whether or not you garden now - you will later if the bottom drops out. People will be converting their precious suburban lawns into veggie patches. Do you have the tools?
In multiples?
Does everyone in the family have a bicycle? And spare tires? And air pumps?

If the "dollar becomes worthless" we will certainly be living in dangerous times. Have you ensured you and yours have received the training you will likely need during bad times? Training is expensive - current rates are $150 - $250 a day per person. It doesn't matter if you are taking a Basic Handgun class, an intensive Beekeeping Seminar, or learning Evasive Driving.

...ahem....which makes VikingFest 2010 such an awesome deal ....ahem

So yeah - if you have spare cash laying around (and you should) you may want to convert some of it to PMs - in the smallest pieces you can find (1/10th ounce gold is getting more and more difficult to find and demands a premium because of this) but really - you should be squaring yourself away for what comes WITH a "worthless dollar".

Get ready.
I’ll see ya out there.

And the LORD said unto Moses, Thus thou shalt say unto the children of Israel, Ye have seen that I have talked with you from heaven. Ye shall not make with me gods of silver, neither shall ye make unto you gods of gold. – Exodus 20:22 - 23

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If you have any comments I’d love to hear them.
If they really interest me, I may even post them.
You can reach me at Joe

You can also join us to discuss this and other issues at Viking Preparedness Forums

Prepared Americans for a Strong America

2 Comments:

At 24/4/10 13:32, Blogger Dustin Tarditi said...

As the saying does, "Gold is the money of kings, silver is the money of the common man" - you may be hard-pressed to find anything worth gold, unless you are able to buy very large volumes. PMs are certainly useful in the long term, but the barter system will be strong.

Other good trade-ables:

Heirloom seeds
Ammo
Fuel
Batteries (charged)
Tools
Tobacco
Alcohol

Some items, like clothing and tools, may be so easily scavenged that they will have little value until they become rare - may take many years. Specialty items will have value almost immediately - seasonal clothing, rain gear, etc.

 
At 25/4/10 18:29, Blogger Suburban Survivalist said...

I recently did a post on the same topic;

http://suburbansurvivalist.wordpress.com/2010/04/05/precious-metals-post-teotwawki-i-dont-buy-it/

Basically, I think the notion that a few weeks after a hard collapse we’ll be paying in pre-1965 junk silver for whatever is way off base (though some popular bloggers suggest otherwise). A large percentage of the population doesn’t know what’s silver and what’s not, or how much it’s worth. And who’s going to want silver when they’ll likely need any number of other items, on top of food.

But precious metals as a hedge remains a pretty good idea, as long as it's after main preps have been taken care of (food storage, firearms, ammo, etc.).

I've been buying silver dollars lately...

 

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