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Old 10-17-2010, 18:42   #87
G29Reload
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Join Date: Sep 2009
Posts: 12,604
Quote:
Originally Posted by ElPasoGlock View Post
I really must laugh when I read stories of people pouring tons of investment money into gold and silver, which by the way, are intrinsically worthless. Silver has some uses but gold has very few. It is difficult and expensive to mine, process, and extracting the gold produces tons of toxic waste.

It is artificial demand that makes the value, just like diamonds whose value is tightly controlled by one major cartel (Debeers).

You can't eat gold or silver and if there was no more economy I certainly wouldn't accept it as payment. The new currency of a devastated economy will be ammunition, food, water, weapons, antibiotics, or barter skills like blacksmithing, dentistry, medicine, etc.

You lawyers out there are screwed! So keep buying that precious metal and I'll keep buying some lead.
For TEOTWAWKI, maybe. But for transitory SHTF events, even if they cover a decade or two, if theres a recovery cycle where we come back online with a stable fiat currency to trade in again, pms will certainly be an excellent holding tank to later convert into working paper that people recognize and trade in. foolish to not have at least a small chunk for backup.
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