Tuesday, September 1, 2015
new silver
Today I came across a post from a Facebook friend that asked, "Anyone investing in silver?" As far as an investment goes, the price of silver has been very low for a couple of months and even though I know little about how the precious metals market works (meaning - manipulated), it would seem to me that now might be a good time to grab some. As far as a hedge against catastrophic economic failure goes, here is something to consider. It may also be prudent to review another blog post I did about monetary value.
The conversation inspired me to do some some digging online and I found a good fine silver source for some future silver crosses that are on the drawing board...cheaper than the sterling silver casting grain I have purchased (although their final product does not include "the love" that goes onto a Field Lab coin!). Apparently, there is quite a demand for these as they sold almost 300 of them from their current stock today alone. They also sell fractional coins as small as 1 gram. I found this company after watching some YouTube videos about silver stacking - rather strange videos where guys unbox and show off their piles of silver coins, rounds, and bars. As of the time of this posting, the spot price of silver is $14.58/troy ounce. 92,100,66,0,B
Subscribe to:
Post Comments (Atom)
10 comments:
Smart move.
That is a great article and something I have also thought about. The author nails it when he said:
"..., people didn’t switch to gold as a means of exchange when things got bad. Instead, they switched to bartering for the stuff people actually needed: food, clothing, shelter, cutlery, and so on."
just to tweak John a tad: " I have been investing in systems to grow food. Precious metals might be a hedge on inflation, but you can't eat them."
this conversation can be extended if you bring in the concept of bitcoins which are upending the world of "value" and "exchange".
and you get into some conundrums like how come it takes X bitcoins to buy a widget in one place but the same widget costs Y bitcoins in another place...at the same time.
If you had a thousand dollars in A. Gold B. Silver and C. Bitcoins
which would be worth more in a year or more to the point - what more could you buy?
It could happen at any time and Will in the somewhat near future and No One can predict when and it will be much worse than 2008. Because we printed so much paper money and owe so much. Stocks, bank accounts wiped out overnight. No warning. Social agency help wiped out or lowered. Civil-social unrest everywhere. What is one to do? I like the idea of barter. One college professor said in 1969, line all the old and poor welfare people up and shoot them. fHow many police have been killed already this year. In 2008, I saw older people crying because they had overnight lost everything they worked for all their lives. Some people here are even buying extra homes to rent out. Seems John is set up. And then we die. My son works in a bank and he is not concerned. None of the bankers are.
Good points. Makes me rethink my objectives. Being a backward alchemist (I turn silver into one time use alfalfa and range cubes) is probably not the best use of my time and resources unless I complete the cycle...silver-feed-manure-compost-vegetables. I am leery of bit coin because it has no physical form. A pocket full of nickels, dimes, and quarters still gives me the illusion of comfort.
I would avoid bitcoin. Way to unstable and requires "the system" to be functioning. Even in the simple case of an extended power outage those coins become worthless. Sadly, most people nowadays don't even carry cash or coins in the event of an emergency. There is way to much reliance on the banking system.
John have you ever thought about distilling?
For John to, omg, distilling alcohol for trade? Could work. :-) There was wine in the Bible. The only time I made wine from government surplus grape juice and sugar i put in too much sugar and the 6 year olds in the neighborhood got ahold of it and the grandmothers thought it was so cute and I was horrified.
They say that known currency is the best to have within the first few months of a total collapse of our system as everyone recognizes it and it's value. After that, silver and gold becomes the desired trade. Can't hurt to have both on hand.
cigarettes,food and alcohol. Gold and silver are a hedge against the markets........if there is no market.....
Think I'll stick with lead, steel, brass and copper.
Post a Comment