gopherblue
Straight Flush
I have apocalypse barter items that I've purchased with money. Preparation is key.
I have apocalypse barter items that I've purchased with money. Preparation is key.
Which feels like investment level thinking. I already am thinking diversification because I'm in the backstretch of my career. The COVID debacle made me rethink how stable our society is, but even then I have zero concern about a full-scale economic collapse.I'm contemplating buying a bunch of silver (maybe gold) to diversify.
I get it. I'm sure I'm failing in the "investment" category compared to many. I do have a variety of different stock market accounts, deferred compensation accounts, pension portfolios, and clay investments... BUT when I say diversifying my poker bank roll, imagine I've got X amount of paper currency just sitting in a drawer, unused due to covid. As time rolls on, paper currency just loses value, whereas PMs at least maintain their purchasing power (value) over the years.If you're just going with "fun trinkets", then yes, it's a pretty solution.
I was led on by this...
Which feels like investment level thinking. I already am thinking diversification because I'm in the backstretch of my career. The COVID debacle made me rethink how stable our society is, but even then I have zero concern about a full-scale economic collapse.
Owning precious metals has always been a economic-pullback safe refuge, so I have roughly 5% of my portfolio in gold (via an ETF). But I still own Tesla, so I'm basically a high-risk conservative investor - if there can be such a thing.
If one type of currency isn't good why would another type be alright? If society has collapsed you can at least wipe your ass with paper money. If you're worried about the worst case scenario you should stock up on ammo, MREs, generators, etc....silver won't buy you anything that the almighty American dollar won't once we've entered a barter economy situation. There's nothing magical about precious metals as a currency, their value hinges upon what people perceive the value to be and their confidence in its utility as a currency, which at this point makes them no different from widely accepted paper currency.I get it. I'm sure I'm failing in the "investment" category compared to many. I do have a variety of different stock market accounts, deferred compensation accounts, pension portfolios, and clay investments... BUT when I say diversifying my poker bank roll, imagine I've got X amount of paper currency just sitting in a drawer, unused due to covid. As time rolls on, paper currency just loses value, whereas PMs at least maintain their purchasing power (value) over the years.
I'm not a doomsday prepper, and I don't feel the need for a tinfoil hat (aliens aren't spying on my thoughts). However, several people ITT brought up interesting points on post apocalyptic currency. I don't think an economic collapse is likely, but we are in very uncertain times. Should such economic strife occur, whereas the government and our economy are in doubt, I'd argue that PM's are a much more viable currency for trade and barter than paper bills (that might not be worth more than the paper they're printed on).
Let's put on our tinfoil hats and play doomsday prepper for a minute:
Let's just say that SHTF and everything is upside down. Government is trying to figure stuff out, get back on track, and you want to buy some chickens from a nearby local farmer? Sure, my stockpile of ammo and alcohol might be good barter items, sure. However, eventually we will get back to normal society, with an economy and system of money, etc... If you're that farmer, and have spare chickens to sell, are you more likely to accept paper money (that says "United States of America" on it) or equivalent value in pure silver coin? The paper money might turn out to be worthless, but the PM's will retain their value, no matter what economic system is in place down the road.
^now the above isn't why I purchased PM's today, but it's me following a "hypothetical" apocalyptic rabbit hole proposed by a few in this thread. Also, I've just consumed an entire pitcher of strawberry margarita from my favorite Mex Restaurant, and maaaay have recently watched "I Am Legend..."
I don't necessarily agree with this, but it's a good thing I am not worried about some dooomsday scenario (so we'll never likely need to find out).....silver won't buy you anything that the almighty American dollar won't once we've entered a barter economy situation. There's nothing magical about precious metals as a currency, their value hinges upon what people perceive the value to be and their confidence in its utility as a currency, which at this point makes them no different from widely accepted paper currency.
I guess we'll just have to agree to disagree. No country today still has a currency backed by the "gold standard." The US dollar is the world reserve currency and more than 50 countries directly peg their currency to the dollar. I'm still not sure why silver is of much use to chicken farmer in a scenario in which basic law and order have broken down. If its doomsday you want to prep for I'd suggest you prepare for the barter economy, a stockpile of silver won't help when Lord Humungus roles up and wants to be your leather daddy.I don't necessarily agree with this, but it's a good thing I am not worried about some dooomsday scenario (so we'll never likely need to find out).
The reason I don't agree with your assessment, is that precious metals are traded in multiple economies around the globe, and seem to hold a set value over time. Whereas some country's paper currency value can evaporate overnight. Paper currency is localized to a country, PM's are globally recognized.
If you're talking about something like "The Road" (global apocalyptic wasteland), I'd agree, metals are likely meaningless, especially compared to more practical items like food, means of self defense, shelter, etc... But going down the rabbit hole of possible scenarios, it's far more likely to have an economic collapse, where the U.S. markets implode, your bank accounts evaporate overnight, grocery shelves are barren, and the government is unable to provide many basic services (but we're all still alive and walking around wondering where we will get our next roll of TP). In these scenarios, where there's some viable path to an eventual recovery, I can see folks needing to trade and barter for food/supplies, etc...
If I've got a crap ton of chickens on my farm, and my neighbor stops by to ask me to sell him a couple... Which is a more viable payment? Paper currency, which might be worth zilch when the government comes around, or precious metals, which have global (universal) value? I'm not giving up chickens for some green paper that might very well be worthless once the government gets their act together. But I can have confidence, that once a new society is established, that gold and silver will have value, whereas paper money (from the previous era) might not. One is CLEARLY better in these situations...
But again, I'm not buying the PM's for that reason. AND while I'm still a tad intoxicated, this might be a good time to watch Red Dawn (the orig)... "Wolverines!"
Now, I'll see your chips and raise you a dealer button