This is a discussion on Do you consider a financial nest egg as essential to prepping? within the Economic, Precious Metals, Investing, Finance forums, part of the General Discussion category; Originally Posted by Inor It's Opie!!! Where is Rice when we need him?!? Opie, Steve, Dupman, Rab, JFW or any of those boneheads they all ...
Yeah, . . . it was dumber, . . . but not by much.
When the event you named happens, . . . Campbells pork n beans will be the currency, . . . that paper in your billfold won't even start a good fire, . . . and if you are buying gasoline from me, . . . don't think about bringing your sorry gold coins, . . . or silver bars, . . . they don't even make good fishing weights.
May God bless,
Different preparedness philosophies are evident here to be sure, and likely planning for different potential events as well. The pdf I posted a link to above is a study from the cold war, not just some think tank researchers opinions, but over 200 references cited on why they came to the conclusions that they did. Maybe 'next time' it'll be different, but history often rhymes.
My point in bringing this up is to reinforce the importance of gold’s Fear Trade, which says that demand for the yellow metal rises when inflation threatens to destroy a nation’s currency—as it’s doing right now in Venezuela. A Venezuelan family that had the prudence to store some of its wealth in gold would be in a much better position today to survive or escape President Maduro’s corrupt, far-left regime.
In extreme cases like this, gold could literally help save lives.
Such was the case following the fall of Saigon in 1975. If not for gold, many South Vietnamese families might not have managed to escape the country. A seat on one of the thousands of fleeing boats reportedly went for eight or 10 taels of gold per adult, four or five taels per child. (A tael is slightly more than an ounce.) Gold was their passport. Thanks to the precious metal, tens of thousands of Vietnamese “boat people,” as they’re now known, were able to start new lives in the U.S., Canada, Australia and other developed countries.
But escape from Venezuela (legally anyway) doesn't come cheap:
Venezuela has been suffering from shortages of food, medicines and other basic goods for many years now. The lack of passports is just one of them. The legal price of a passport in Venezuela is 18 bolivars, or $0.30 (£0.23) at the black market exchange rate. However, tired of waiting, some Venezuelans choose to pay for the service of officials who can speed up the process for $1,000, at the very least. A prohibitively expensive amount for most Venezuelans,given the monthly minimum wage is $18.
Not to suggest money is always the only thing you need, just that in some cases it might be the best single item to have. Jews using gold to escape Nazi Germany for example, bugging in for them wasn't really an option. And what separates an vacationer/immigrant from a refugee? Money.