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Joined: May 2008
Posts: 5,195 Likes: 8
Campfire Tracker
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Campfire Tracker
Joined: May 2008
Posts: 5,195 Likes: 8 |
Everyone knows Mormons stockpile a bunch of food. Hate to be a Mormon when the hordes get hungry. Yes, having food when everyone's hungry will be horrible. Yeah, because they will come ask nicely for it. #1 rule of prepping.... don't tell anyone what you have Rule #2- don't have anything, so you can be in the same shıt situation as everyone else. The whole idea will be to survive the first 6-12 months. The masses have already figured out the flash mob approach. They use it and use it well. They will be armed and ruthless. Not to mention your white neighbor will probably kill you if it came down to it. The first move the hungry masses will make is to go take from those who have stuff. And they know who will have stuff and will be very good at taking it. If you think you will be able to stay in your primary residence you are only fooling yourself. If you do, you will be eventually killed for what you have or burned out of it. The best move would be to have the skills, physical ability, and the gumption necessary to go into the wilderness for a year away from people. Empty your house out and leave the front door unlocked. When the dust Settles and most have starved or killed each other, possibility your house will still be intact. If you don’t have a few dozen snares weathered and ready to go at this point, you probably haven’t given this any realistic thought. "I've got a dozen snares, and gumption! By god, I think I'll just head out to the wilderness for a year." Good way to die a slow miserable death, right brother dassa? I actually have changed my plans, based on Calvin's insights. My new plan is to watch the roads heading out of town for people with a gumptive look about them, carrying snares, and follow them into the wilderness. Then, I'm gonna sneak up behind them, club them, and take their snares. I'll have to fake the gumption.
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Joined: Jun 2002
Posts: 131,920 Likes: 52
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 131,920 Likes: 52 |
How much gold would you take for your last five pounds of beans? In each case where a monetary system has collapsed, the purchasing power of gold/silver increased dramatically. That's the lesson of history. You may learn from history, or repeat it. Obviously, however, people don't tend to sell necessities that are not in excess of need.
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Joined: Dec 2002
Posts: 26,037 Likes: 11
Campfire Ranger
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Campfire Ranger
Joined: Dec 2002
Posts: 26,037 Likes: 11 |
You may point to a few instances of monetary collapse, like the German Mark after WW I.
Please point to a societal collapse, and tell us how holding of precious metals helped anyone.
Without the power grid. Nothing will run.
Without oil refineries, there will be no transportation.
Without transportation, there will be no durable goods, or commodities to trade for.
Within seven days, people in the cities will be eating their children.
This is what I mean when I ask: How many pounds of gold to buy your last five pounds of beans.
People who choose to brew up their own storms bitch loudest about the rain.
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Joined: Jun 2010
Posts: 9,471
Campfire Outfitter
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Campfire Outfitter
Joined: Jun 2010
Posts: 9,471 |
I still wonder if the OP has read the Bible?
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Joined: Jun 2002
Posts: 131,920 Likes: 52
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 131,920 Likes: 52 |
You may point to a few instances of monetary collapse, like the German Mark after WW I.
Please point to a societal collapse, and tell us how holding of precious metals helped anyone.
Without the power grid. Nothing will run.
Without oil refineries, there will be no transportation.
Without transportation, there will be no durable goods, or commodities to trade for.
Within seven days, people in the cities will be eating their children.
This is what I mean when I ask: How many pounds of gold to buy your last five pounds of beans. I've referenced monetary and economic collapse, which typically involves a certain degree of societal collapse. Naturally, upon returning to the stone age, folks will be too busy scrounging food, shelter, heat, etc., to worry about a unit of account, etc.. Why does your ilk always try to reduce any discussion of gold/silver as money to an EOTWAWKI situation?
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Joined: Dec 2002
Posts: 26,037 Likes: 11
Campfire Ranger
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Campfire Ranger
Joined: Dec 2002
Posts: 26,037 Likes: 11 |
I suppose "my ilk" just wish to disillusion any who think PMs are a panacea.
People who choose to brew up their own storms bitch loudest about the rain.
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Joined: Apr 2011
Posts: 12,219 Likes: 10
Campfire Outfitter
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Campfire Outfitter
Joined: Apr 2011
Posts: 12,219 Likes: 10 |
... A couple of hundred years ago, people were likely more inclined to sell an animal, produce, or even their time, for precious metals. Most people were playing at the same level. Not in the future. Way too many people who have nothing will be looking to take from those few who are able to produce food. If you're going to survive a collapse long enough that people will start considering selling some of their stuff for gold, you better have a plan in place for a small, well armed community with the ability to produce food, shelter and clean water. Medical knowledge and supplies would certainly be a big plus, too.
Bottom line, in my opinion, is that if there is a collapse now, most people won't survive a year. And the large urban areas are NOT the areas where you will find small well armed communities, food production and fresh water...
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Joined: Feb 2003
Posts: 10,414 Likes: 6
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2003
Posts: 10,414 Likes: 6 |
Some eccentric old friend called last night.
Two years ago he was arrested for driving with diarrhea, but released to get him out of the squad car.
I had to call around to courts to find out where he should appear.
He finally went to the mailbox to get hiss court summons. He does not believe in getting mail.
At the mailbox there was a stock statement.
His former employer gave him stock. That turned into Ely lilly stock. That is worth $3M.
NOw he wants to sell the stock and buy gold.
He wants me to go blindfolded with him and help bury the gold for a treasure hunt for his son and daughter:(
He may be a genius at engineering with 36 money making patents, but not so smart at estate planning.
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. -Ernest Hemingway
The man who makes no mistakes does not usually make anything.-- Edward John Phelps
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Joined: Feb 2003
Posts: 10,414 Likes: 6
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2003
Posts: 10,414 Likes: 6 |
Gold over the last 23 years has made 9.3%/year compounded
Gold over the last 12 years has made 1.4%/year compounded
So it depends on how you look at it.
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. -Ernest Hemingway
The man who makes no mistakes does not usually make anything.-- Edward John Phelps
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Joined: Dec 2019
Posts: 3,077 Likes: 7
Campfire Tracker
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Campfire Tracker
Joined: Dec 2019
Posts: 3,077 Likes: 7 |
Some eccentric old friend called last night.
Two years ago he was arrested for driving with diarrhea, but released to get him out of the squad car.
I had to call around to courts to find out where he should appear.
He finally went to the mailbox to get hiss court summons. He does not believe in getting mail.
At the mailbox there was a stock statement.
His former employer gave him stock. That turned into Ely lilly stock. That is worth $3M.
NOw he wants to sell the stock and buy gold.
He wants me to go blindfolded with him and help bury the gold for a treasure hunt for his son and daughter:(
He may be a genius at engineering with 36 money making patents, but not so smart at estate planning. Not a gold investor here. All the gold I own is in the wedding band on my finger. Still, if forced to invest 3 million in either a single company stock, or in gold, I'd choose the shiny metal. In reality, I'd diversify very quickly. Neither choice seems very wise to me. Maybe you could convince your bud to spend some of it now while he can share the fun with the kids. The memories will be priceless. The Parable of the Talents may apply here.
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Joined: Jun 2002
Posts: 131,920 Likes: 52
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 131,920 Likes: 52 |
Gold over the last 23 years has made 9.3%/year compounded
Gold over the last 12 years has made 1.4%/year compounded
So it depends on how you look at it. Like any other commodity, if you buy high and sell low, you're not going to do well. Those who enjoy a steady gain in gold and silver over the years are those who purchase a steady amount over time, i.e., dollar-cost averaging. Timing the market is much more difficult.
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Joined: Jan 2008
Posts: 832 Likes: 1
Campfire Regular
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Campfire Regular
Joined: Jan 2008
Posts: 832 Likes: 1 |
Gold over the last 23 years has made 9.3%/year compounded
Gold over the last 12 years has made 1.4%/year compounded
So it depends on how you look at it. I worked at a gold mine 23 years ago. We had an annual "gold sale" where nuggets and other specimens were offered to employees at current spot price. They were even kind enough to take what you spent out of your paycheck. I spent over a grand on several nuggets. Spot price was around $310/oz. I had a local jeweler turn the nuggets into pendents so they could be worn on a necklace. Gave a couple to my mother, another to my sister, and kept on for myself. I often wish I had bought more when I had the chance.
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Joined: Jun 2002
Posts: 131,920 Likes: 52
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 131,920 Likes: 52 |
Gold over the last 23 years has made 9.3%/year compounded
Gold over the last 12 years has made 1.4%/year compounded
So it depends on how you look at it. I worked at a gold mine 23 years ago. We had an annual "gold sale" where nuggets and other specimens were offered to employees at current spot price. They were even kind enough to take what you spent out of your paycheck. I spent over a grand on several nuggets. Spot price was around $310/oz. I had a local jeweler turn the nuggets into pendents so they could be worn on a necklace. Gave a couple to my mother, another to my sister, and kept on for myself. I often wish I had bought more when I had the chance. Was that around the year 2000?
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Joined: Dec 2003
Posts: 17,234 Likes: 2
Campfire Ranger
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Campfire Ranger
Joined: Dec 2003
Posts: 17,234 Likes: 2 |
In 1950 the price of 1 gallon of gas was roughly 25 cents. You could take your pre-65 quarter, and go buy a gallon of gas. Today at my local gas station here in Washington the price of gas is 4.19 last night.
At one of the local coin shops, Bellevue Rare Coins, they’re live pricing on 90% silver coins, pre 1965, is 17.50 for one face dollar. So, you could take that same quarter, sell it, they’d give you roughly 4.37 dollars for it. Then you could go buy a gallon of gas. It would take you 17.5 of todays 25 cent tokens to buy that same gallon.
Precious metals won’t make you rich. It does hold your wealth against inflation. If the dollar ever collapses, and you have a good store of Gold and Silver, you will do ok I’d bet. Right, it retains wealth, unlike cash. Take that $100 bill you stuck in your sock drawer in 1976 and compare it to an ounce of gold you bought for $100. What’s the buying power of each today? If you invested $100 in the S&P 500 at the beginning of 1976, you would have about $16,658.44 at the end of 2023, assuming you reinvested all dividends. This is a return on investment of 16,558.44%, or 11.33% per year. what was oz of gold on Jan 31?
...Actually Sycamore, you are sort of right....
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Joined: Dec 2003
Posts: 17,234 Likes: 2
Campfire Ranger
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Campfire Ranger
Joined: Dec 2003
Posts: 17,234 Likes: 2 |
I would much rather be in a small town in Utah as opposed to Detroit when SHTF Detroit will be depopulated rather quickly. The strong will quickly move to more rural areas looking for food/supplies to take by force. And they are 10x more ruthless and willing to kill/do what it takes to survive. anybody read "The Dog Stars" by Peter Heller? not a terrible post apocalyptic novel, set in Colorado. As good or better than Alas Babylon, set in florida
...Actually Sycamore, you are sort of right....
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Joined: Jun 2002
Posts: 131,920 Likes: 52
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 131,920 Likes: 52 |
what was oz of gold on Jan 31? The more relevant question is, how much gold constituted a US Dollar in January of 31? Answer: 0.048375 of a Troy ounce, by law.
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