Page 6 of 7 FirstFirst ... 4567 LastLast
Results 51 to 60 of 62

Thread: Don't forget about your finances

  1. #51
    Join Date
    May 2010
    Location
    midwest
    Posts
    8,217
    Feedback Score
    4 (100%)
    True enough. With any societal collapse, eventually there will be rebuilding, and there will have to be some basis for the currency. In the short run though, while hunkered down in your Alexandria enclave, your primary concern will food and ammunition. But yeah...gold has always had value in human history and likely will always.

  2. #52
    Join Date
    Aug 2015
    Posts
    473
    Feedback Score
    0
    Quote Originally Posted by yoni View Post
    I think some of the worse melt downs in society, shows the wisdom of being prepared.

    But let me be totally blunt, if you are in an urban environment including the suburbs and you have things and your neighbors don't. They will gang together and take it from you.
    Which is why people have 30 and 40rd mags. I reside inn urban environment, hurricane threat for 4 months of the year and all the 'prep' that entails. All groceries/supplies unloaded in closed garage, shopping done late evening, no one really knows what I have. And windows are impact resistant.

  3. #53
    Join Date
    Sep 2013
    Location
    Virginia
    Posts
    559
    Feedback Score
    0
    Quote Originally Posted by SeriousStudent View Post
    Mick may not be able to stop it, but I sure can.
    LoL Get rekt. Nicely done.

    Heres my take in case anyone cares:

    The only scenarios where storing precious metals is wise: 1) for good times, as a inflation-resistant method of saving your money, and 2) for emergency circumstances, protection against a currency crisis, wherein your currency is worthless. But Commodities are more useful DURING a crisis. Precious Metals (PMs) are more useful AFTER a crisis.

    Those who pointed out that if ammo, TP, fuel, food, tools, spare parts, whatever, are in short supply, I doubt wed find very many people willing to except PMs in exchange (unless they had far more items than they need and are getting a killer deal on the PMs in trade I.e. 100 rnds of 9mm for a 1oz Gold sovereign. If I had a couple thousand rounds, Id make that trade, f#ck yeah.

    After things start stabilizing, but prior to any new official currency bring established, yes, youd probably see people using PM coinage as money for a bit. Barter would still be very popular, its just harder to make deals that way.

  4. #54
    Join Date
    Apr 2007
    Location
    Texas
    Posts
    11,362
    Feedback Score
    46 (100%)
    Quote Originally Posted by Mozart View Post
    LoL Get rekt. Nicely done.

    .....
    Mick won't be back.

    And I do take care of my finances. I always tip my bartender and barber at least 20 percent.

  5. #55
    Join Date
    May 2012
    Posts
    1,211
    Feedback Score
    17 (100%)
    That's a nice amount of chocolate that the OP has.

    I've never understood the "gold! gold!" (Scrooge McDuck voice) mentality. Sure, I get the reason behind it, but still. Even silver I'm leery of. I have a few silver dollars, and my dad recently gifted my kids a 1oz gold coin each. So, I'm not going out of my way to acquire it.

    But, if you're looking at using this as a wealth retainment strategy .... what's the deal? If the situation is so bad that we're back to gold, what makes people think that Canadian maples, or Krugerands, or American Eagles will be accepted? Gold bars from random places? How do you plan to convert gold into the 'new' currency? I'm not sure anyone's going to know how to check gold content and convert that over, in a way that's advantageous to the person getting rid of the gold. People don't think that their 1oz coin that cost $1k is going to be sold back at that same $1k, do they?

    Finally, in that hypothetical SHTF scenario, wouldn't small amounts be better than large? Why drop a 1oz coin when a 1/10 oz coin will do?
    Last edited by Caduceus; 05-11-20 at 09:28.

  6. #56
    Join Date
    Jan 2010
    Posts
    257
    Feedback Score
    0
    Quote Originally Posted by Mick Boon View Post
    Not gold but have sold lot's of silver. I sold at $40 and bought the same again at $16, it's been good to me.
    Wonder how hard it would be to use sterling silver flatware? PM is PM.

  7. #57
    Join Date
    Dec 2011
    Location
    suburbs of Philly Pa
    Posts
    6,189
    Feedback Score
    1 (100%)
    Quote Originally Posted by ddbtoth View Post
    Wonder how hard it would be to use sterling silver flatware? PM is PM.
    He's been banned for a few months.

    Sent from my moto z4 using Tapatalk

  8. #58
    Join Date
    Jun 2023
    Posts
    9
    Feedback Score
    0
    Not easy for sure

  9. #59
    Join Date
    Mar 2019
    Posts
    24
    Feedback Score
    0
    Interesting thread, I don't know how I missed it.
    From my own experience, I can say that managing your finances is crucial, and exploring lending as a service can be beneficial. Whether it's peer-to-peer lending or crowdfunding platforms, these services offer opportunities to borrow or lend money. However, it's important to research and understand the terms, risks, and regulations associated with lending as a service to make informed financial decisions.
    Last edited by Gregory234; 09-14-23 at 06:07.

  10. #60
    Join Date
    Feb 2010
    Location
    Central NY
    Posts
    1,475
    Feedback Score
    81 (100%)
    Yes, an interesting thread. And as things go, I just rolled over a portion of my 401K (Reg) into precious metals!! Will keep tabs on this and see if anyone else contributes with thoughts & ideals.

Page 6 of 7 FirstFirst ... 4567 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •