1. Forum
  2. SpookNet
  3. SN FINANCIAL

  • Gold and Silver

    From debian@700:100/69 to All on Tue Aug 2 12:34:28 2022
    Just a question for y'all. Over the past several years, I have heard countless people saying to purchase gold and silver and "as the dollar crashes, gold will increase in value". I have seen gold and silver increase a good bit over the past few years, but my question is - lets say the dollar does crash and the banks close and its mad max, what good will all this gold and silver be? As it stands, I don't know of any vendors that accept gold/silver as payment. I understand that gold and silver can be bartered and traded. There are plenty of farmers markets in my area that may accept the metals as barter, but there will be plenty of vendors that won't accept it.

    What is the purpose of buying gold and silver if few people will accept it? Even if I am keeping cash on hand, why would I buy gold or silver?

    73, de KG7UJH
    Debian

    How ya gonna do it? PS/2 it!

    --- Mystic BBS v1.12 A48 2022/02/11 (Linux/64)
    * Origin: SPOT BBS / k9zw (700:100/69)
  • From k9zw@700:100/69 to debian on Tue Aug 2 14:25:48 2022
    On 02 Aug 2022, debian said the following...

    Just a question for y'all. Over the past several years, I have heard countless people saying to purchase gold and silver and "as the dollar crashes, gold will increase in value". I have seen gold and silver

    What is the purpose of buying gold and silver if few people will accept it? Even if I am keeping cash on hand, why would I buy gold or silver?

    Debian has hit the nail on the head, that until such time other people want gold and silver more than other forms of payment, that gold and silver are a liability as much as an asset.

    Personal take is in a bad situation the transition away from one payment unit to another payment unit (in our case fiat currency to precious metals) will have transitionary periods and will not be a simple flip-the-switch so now people like gold & silver more than other forms of payment,

    My guess is consumable tangibles may play a role in any transition, those items being foodstuffs, produce, consumable luxury items, commodities....

    And my guess is that what is valued will change dynamically.

    Holding diverse assets might be the winning strategy?

    --- Steve K9ZW via SPOT BBS

    --- Mystic BBS v1.12 A48 2022/02/11 (Linux/64)
    * Origin: SPOT BBS / k9zw (700:100/69)
  • From debian@700:100/69 to all on Fri Aug 5 00:36:21 2022
    Personal take is in a bad situation the transition away from one payment unit to another payment unit (in our case fiat currency to precious metals) will have transitionary periods and will not be a simple flip-the-switch so now people like gold & silver more than other forms
    of payment,

    My guess is consumable tangibles may play a role in any transition,
    those items being foodstuffs, produce, consumable luxury items, commodities....

    And my guess is that what is valued will change dynamically.

    Well, it is possible to melt gold and silver and create something usable out of them. That said, I would expect lead ingots to become more valuable - atleast for the purpose of casting bullets. But the banks don't care about any of that - when you have to pay your bills, the debtors won't accept anything other than the nations currency.

    I don't forsee gold or silver replacing the dollar/credit, even in a mad max situation. It seems allot of these gold and silver advocates think that these will replace the nations currency when all goes down.

    Diversifying and having different currencies isn't a bad idea, though. It may come to a point where one currency may have more buying power than another? Having a cash reserve on hand will be more helpful than having a frozen credit card.

    73, de KG7UJH
    Debian

    How ya gonna do it? PS/2 it!

    --- Mystic BBS v1.12 A48 2022/02/11 (Linux/64)
    * Origin: SPOT BBS / k9zw (700:100/69)
  • From poindexter FORTRAN@700:100/20 to debian on Tue Nov 8 13:16:00 2022
    debian wrote to all <=-

    I don't forsee gold or silver replacing the dollar/credit, even in a
    mad max situation. It seems allot of these gold and silver advocates
    think that these will replace the nations currency when all goes down.

    I see silver having a place in a time when the dollar's trust is lowered, or when cash is restrained, either through economic or electronic issues.

    Having a stash of ounce silver coins would be a good amount for bartering
    for goods when cash is either doubted or unavailable.

    Diversifying and having different currencies isn't a bad idea, though.
    It may come to a point where one currency may have more buying power
    than another? Having a cash reserve on hand will be more helpful than having a frozen credit card.

    I've been looking into index funds based on international stocks - having a Canadian, European or Asian index fund in your portfolio would be a nice hedge.


    ... Define an area as 'safe' and use it as an anchor
    --- MultiMail/DOS v0.52
    * Origin: realitycheckBBS.org -- information is power. (700:100/20)