WTSHTF, when to spend gold and when to spend silver?
 

Of course it would stand to reason that since silver is "poor man's money," then gold should be reserved for extraordinary circumstances. But I got to thinking, other than being totally depleted of other resources, which would seem absurd if a person still had gold, what would be circumstances that would warrant the spending of gold, as opposed to silver, copper, etc.?

Re: WTSHTF, when to spend gold and when to spend silver?
 

In a difficult period, it might be a useful bribe to an underpaid bureaucrat/functionary/sentry, and it might be the only "money" accepted by whatever black market/underground economy that fills the void.

Re: WTSHTF, when to spend gold and when to spend silver?
 

Gold: Pay off your house
Silver: Buy supplies

Re: WTSHTF, when to spend gold and when to spend silver?
 

I have on ounce of gold for every family member and my nephew and his family. Its our "get the hell out of town because the SHTF money". It worked for the Jews during WWII~

Re: WTSHTF, when to spend gold and when to spend silver?
 

I'd say spend it when you need to buy something, and nothing else works. Until then, keep using those crappy FRNs...... :D

Re: WTSHTF, when to spend gold and when to spend silver?
 

My personal thoughts...we will enter a depression next May, and 1 year later it will become a "Great Depression"...at that time, gold will become useless/unsafe for trade or selling. You will have to keep your PM's underground for some time. If you are able to hang on to your stash when we emerge from the "Great Depression", in 10 to 15 years, this is when you will see it's biggest benifit to rebuild your life as we will be living in a drasticly different society with a new monetary system. I think before we enter this depression, when we enter the PM mania, you will want to sell some of your PM's to pay off property and debt and prepare for the long cold winter.
The perfect storm is gaining strength!
Just my thoughts
EE

The bad news is, many of us will be dead and gone before this plays out. :dong:

Re: WTSHTF, when to spend gold and when to spend silver?
 

AHH a refreshingly optimistic viewpoint.
EE, Do ya think they can keep the economic merry-go -round spinning for another year?
I really do hope they can keep the wheels on for that long.
That would be enough time for ALL of us to stock up and get out of town.

Re: WTSHTF, when to spend gold and when to spend silver?
 

Perhaps (probably), but we can educate our children and leave our stash to them. It's comforting to know my girls will, hopefully, be much better off than most. They'll speak of ole dad in loving terms. :D

Re: WTSHTF, when to spend gold and when to spend silver?
 

Well, I was always of the mind that rather than pay with something with say, 40 ounces of silver, I would just use up one ounce of gold. Kind of like... silver pieces are the 1's, 5's, 10's, and 20's, and gold is the hundred dollar bill. Maybe my thinking is whacked?

Re: WTSHTF, when to spend gold and when to spend silver?
 

Thats figuring a 40 to 1 ratio. Im betting closer to 15 to 1. At this moment silver up .39 per oz for the day and gold down .64 per oz

:tongue_ma: Go Silver!

Re: WTSHTF, when to spend gold and when to spend silver?
 

Amen............Our names will be envoked with highest love and honor


T

Re: WTSHTF, when to spend gold and when to spend silver?
 

Great points. When/if TSHTF in the next few years, don't count on trading your gold or silver for anything. Food will be your greatest asset.

The metals come into play if you sell right before the inflation ends and depression sets in, or after the worst of the depression is over and it is time to start buying up stocks/land.

Anyone see how many hoards of Roman coins they have found from fall of that Empire? A lot of people died waiting to use their coins. The ones who survived no doubt dug up their hoards and made a killing.

10-15 years of depression seems extreme! I was thinking more like a few years of really bad depression before things get better.

1st quarter earnings 2009 will be bad methinks.

Re: WTSHTF, when to spend gold and when to spend silver?
 

If you own land, the tax man is going to want his cut. That's one of the things I'm buying silver for now.

My Great Uncle, said that during the last great depression, Joe Kennedy and his buddies, came down to Mississippi and other Southern states, and bought up all kinds of rural land, for the taxes owed. Penny's on the dollar. They then formed International Paper Company, all of this according to my Uncle, but I've not found any publish account of this.

Re: WTSHTF, when to spend gold and when to spend silver?
 

Just curious, EE, what makes you think this could happen next May? What's the significance of next May?

Re: WTSHTF, when to spend gold and when to spend silver?
 

right on da money..

Re: WTSHTF, when to spend gold and when to spend silver?
 

I fully believe something like that happened they just kept there wealth in a form that was non-taxable until the dust blew over.

The only gamble is if you own property in a town that others just flat out give up on and becomes a detroit or a cincinatti. They it would not be worth it to hold on to the property IMO.

It is tricky position to play and you will have to keep your eyes peeled to make the most of it.


T

Re: WTSHTF, when to spend gold and when to spend silver?
 

You will need to be flexible, everything will depend upon the details regarding the next great economic collapse or catastrophe.
You will need to examine the global situation specifically.

If global catastrophe comes with most of the global economies coming to a virtual standstill, then the base metals and even silver will not be of much value.
However, gold (and I disagree with the others who say only food) will become the medium of exchange of choice, and I expect that a single ounce of gold would buy a year's worth of food in a global catastrophy, pretty much right out of the gate.

On the other hand, if only the debtor nations, the USA especially (as it is the largest debtor) go into a financial meltdown, and the surplus nations continue to chug along mostly OK, then silver, platinum, and palladium could very likely outperform gold significantly.

Re: WTSHTF, when to spend gold and when to spend silver?
 

Everyone on GIM should band together at the bottom of the collapse and use our PMs to buy the entire state of Arizona. It should be affordable by then.

Re: WTSHTF, when to spend gold and when to spend silver?
 

Why not buy Montana instead? It's huge and nobody lives there. Well, at least nobody until the rest of us get there. :D

Re: WTSHTF, when to spend gold and when to spend silver?
 

I respectfully disagree....


If we have virtual standstill in america..... WHO IS THEIR RIGHT MIND IS GOING TO SWAP ANYTHING??The smartest folks in the room would be battening down the hatches cause they know.

At the end of the day YOU CANT EAT PM's

And if I was in a position that I had a massive store house of food (even a substainal amount for barter).... If I was leery about the ecomomical outlook ... I WOULD NOT TRADE ANYTHING FOR PM's JUST OTHER TANGIBLES THAT I DO NOT HAVE.



T

Re: WTSHTF, when to spend gold and when to spend silver?
 

I choose May and December in my predictions because these are the two key months in markets and economic cycles. Markets and the economy make their biggest adjustments up or down in these two months.
Just look the unwinding that took place this May. The Fed papering over of everything has peaked just now.
Wiat to see how their paper works next May!

Re: WTSHTF, when to spend gold and when to spend silver?
 

Now might be a good time to sell any gold and silver that has some collectors value associated to it.

Taking advantage of these collector types, is O.K. from my point of view.:D

Holding onto one or two pieces of collectibles may be wise, three or four that much better.:D

Re: WTSHTF, when to spend gold and when to spend silver?
 

Count me in, the more you put in the more land you get, Just don't put my plot next to Seleukus Nikator, Once the GIM govenment becomes corrupt he'll turn me in to cover his own ass. ( hehehe J/K )

Re: WTSHTF, when to spend gold and when to spend silver?
 

Cracking up GM!!


Put my plot next to Mumwaldee and Shirley U between the hollowpoints and spitting pure fire I should be able to repel any hostile take over.:s9:


T