Silver and Gold markets are suppressed, go buy physical metals! ( conspiracy )

submitted by WhyNoDonuts

A few coins at home is always a good idea. Can't afford metals? Buy a box of .22 long, a bag of rice, and a bag of dry beans, it's always a good idea to have those things.

monkeytoe101

Strong dollar has a lot of things low right now. I figure buy now while it's "on sale"

CryptoBard

I believe crypto is as well. I know many of you are crypto-haters, but FYI.

Le_Squish

The problem with crypto is no one is willing to trade goods for it. It currently has no real value as a currency because most people are just hoarding it.

Crikes

People who hoard it will give up stuff they value less for more of it. Less valuable stuff like fiat currency, and other goods.

WhyNoDonuts

I think lots of us don't want to take the time to learn it all. If I didn't have a crypto nerd in my family, I probably wouldn't know.

That said I'm not going into alts, bitcoin and Ethereum only. For now. I'm not that kind of pioneer.

Crikes

Eliminate debt, attain land, tools, renewables, ammo (.22lr, 12g, nato rounds), precious metals (easily identifiable numIsmatic is probably best. Silver dollars won't be questioned, where pre-64 quarters and dimes might), & Bitcoin.

Food storage is essential. Rain catch/water filtration.. Solar, wind/hyrdo turbine. Ham radio. Require meds? Try to build a storage up to its shelf life. Energy efficient, 12v, lights/devices.

What would you wish you had if you couldn't get anything else? Invest in that first! After that, diversify into currencies (anything of value beyond which you yourself would ever use. I.e., a third hammer is backup. A 33rd hammer is currency).

WhyNoDonuts

I agree with all of this but your first sentence in key: eliminate debt, attain land (not a condo gawdammit), buy tools, guns, ammo, metals. In that order!

It never hurts to have a lot of salt and vinegar on hand. Plant a garden and pickle something, learn to do it well. Learn how to bake good bread. Work with sourdough starters. Find out what grows well where you live. Keep $10 worth of seeds at your house and buy new ones every year. Make good friends, but don't reveal your good planning and bountiful supplies at first.

-lots of ice cream places will close for the season soon : get those free plastic buckets now!

Here is my little secret: if you're not dressing up for work or for church, dress poorly. Laughably, even. Salvation army pants that look out of style. My "vote for Pedro" shirt is great because that movie is over ten years old. Wear shirts from events or fundraisers with dates from awhile ago. Nobody is going to come raids my place thinking there's valuables there.

ardvarcus

Gold's always a solid investment when you fear instability. It's always going to retain its value over the long term. On the other hand, you can't count on gold to go up in value, so it's not a good investment when you are trying to make money. It will keep pace with inflation -- that's about all you can be certain about.

Another factor to consider is the awkwardness of physically owning pieces of gold. You need to store them somewhere, you need to keep them save from thieves, and you are going to have to carry them to someone who will exchange them for cash, since you cannot easily buy things with pieces of gold (for one reason, people don't trust that the gold is genuine).

Store them in a safe deposit box in a bank? Do you trust the banks? If you trust the banks, why not just keep your money in a bank account? If you don't trust the banks, you won't want to sture your physical gold pieces there, will you?

Store them in your house? Where, under your mattrass, because that one of the first places thieves will search. In a safe? It better be an expensive, heavy safe bolted to the floor, or thieves will just carry it off with them.

Gold is awkward. The only justification I can see for owning physical gold is an expectation that in the near future the entire economy is going to collapse. I don't think this is going to happen, which is why I haven't put myself through the awkwardness and inconvenience of owning physical gold.

WhyNoDonuts

I do fear some large type of correction in markets, and I see currencies devaluing as a part of that. I'm not thinking of a mad max situation but I think it will be worse than 2008 with credit squeezed, and shipping will be interrupted. The banana boats will still arrive on American ports, but the currencies paid out towards the third world will be affected. China will be hit harder than last time. Any money left in banks can be devalued or as in the case of Cyprus, seized. As a rule, I try not to let the bank hold more than the value of my mortgage owing. I'm not holding out for a huge gain in value, I'm looking for something of value that will not depreciate, and is stored easily. I'm thinking that a dozen coins is the limit, let's not go overboard.

As for where to store it, that's tough. Find a secured place in your house and disguise it. Never tell anyone you have coins, ever. Maybe you will choose to put it in a sofas' upholstery (not great). Maybe you have a less finished part of the basement where you can add a board without it standing out. Staircases, fake electrical boxes covering a safe, maybe a decoy safe for some silver and a single goldie, i could go on and on but the Internet has plenty of suggestions. Mine is in a safe, in a photo album with some pictures is like to keep safer from fire, and thee coins are in a collectors plastic page of the binder. Owning gold is difficult if you don't have a home, so put your money towards that first. My last suggestion is to keep your hoard under $10K if you're well off (multiple cars, no debt), and under $5K if you have a more typical money situation (mortgage, jobs under $100K) -Let's not get carried away, just create a little metal nest egg.