Anyone moved to Gold and left the dollar
Register

Welcome to the Prepper Forum / Survivalist Forum.

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed.

Anyone moved to Gold and left the dollar

This is a discussion on Anyone moved to Gold and left the dollar within the Economic, Precious Metals, Investing, Finance forums, part of the General Discussion category; Has anyone abandoned the dollar and just use gold, or have you started building up a personal gold reserve. I'm starting to and I want ...

Page 1 of 3 1 2 3 LastLast
Results 1 to 10 of 28
Like Tree4Likes

Thread: Anyone moved to Gold and left the dollar

  1. #1
    Junior Member


    Join Date
    Feb 2014
    Posts
    1

    Question Anyone moved to Gold and left the dollar

    Has anyone abandoned the dollar and just use gold, or have you started building up a personal gold reserve. I'm starting to and I want to know how successful some other people have been. Also I was going to travel to a gun show and I wanted to bring some gold to trade/make some purchases with, can I do that? I'm fairly new to all of this if you cant already tell. I'd appreciate the help.

    Thanks,
    Lee

  2. #2
    Senior Member


    Join Date
    Jul 2013
    Location
    Backwoods of South Florida
    Posts
    1,694
    Of course you can use precious metals for trade at gun shows, if anyone there will take it. PM's are only worth what someone is willing to trade for them. That being said, I have seen people at gun shows trading PM's for firearms before. Know what you have, and what it's worth.
    Friends don't let friends own Glocks.

  3. #3
    Super Moderator


    Join Date
    Sep 2012
    Posts
    20,432
    Unless I am wrong, it is illegal to make "purchases" with anything other than currency.

    What items individuals are willing to trade among themselves, on the other hand...
    Arizona Infidel likes this.
    Hidden Content
    "Reality is almost always wrong."
    Dr. Gregory House

  4. Remove Advertisements
    PrepperForums.net
    Advertisements
     

  5. #4
    Senior Member


    Join Date
    Apr 2013
    Posts
    2,464
    I have done well trading using old silver US coins
    Denton likes this.

  6. #5
    Senior Member


    Join Date
    Oct 2012
    Location
    PA
    Posts
    438
    Gold does not make sense to me as an investment beyond the diversification aspect. There are mutual funds out there that consistently average 12% a year over the long term. That's a much better than gold usually does over such stretches.

    I think initially cash will still spend if SHTF. Directly after cash, it will become a barter system. Gold and silver will only come into play if a new government had to be formed.

  7. #6
    Senior Member


    Join Date
    Nov 2012
    Location
    North Texas
    Posts
    7,136
    Quote Originally Posted by pharmer14 View Post
    Gold does not make sense to me as an investment beyond the diversification aspect. There are mutual funds out there that consistently average 12% a year over the long term. That's a much better than gold usually does over such stretches.
    The only problem I have with this is that if the economy tanks, PM's could be your only source of wealth.


    Quote Originally Posted by pharmer14 View Post
    I think initially cash will still spend if SHTF. Directly after cash, it will become a barter system. Gold and silver will only come into play if a new government had to be formed.
    I don't disagree here. There may be a few who want to trade PM's but the majority of transactions will be barter.

  8. #7
    Senior Member


    Join Date
    Apr 2013
    Posts
    2,464
    Quote Originally Posted by Denton View Post
    Unless I am wrong, it is illegal to make "purchases" with anything other than currency.

    What items individuals are willing to trade among themselves, on the other hand...
    Old silver US coins (pre 1965) are currency ,,There just worth more than face value

  9. #8
    Senior Member


    Join Date
    Apr 2013
    Posts
    2,464
    Quote Originally Posted by pharmer14 View Post
    Gold does not make sense to me as an investment beyond the diversification aspect. There are mutual funds out there that consistently average 12% a year over the long term. That's a much better than gold usually does over such stretches.

    I think initially cash will still spend if SHTF. Directly after cash, it will become a barter system. Gold and silver will only come into play if a new government had to be formed.
    When TSHTF I don't think Mutual funds will do you much good. Gold and silver have had value before the beginning of currency and they always will.
    When the dust settles people in the US and other countries will have stuff they want to sell. What do you think they will use for currency?
    You can bet it won't be paper. Even if a new world currency comes out people will be shy of anything made of paper for quite a while
    Ok at first Food and survival items will what everyone wants. But that will change with a little time
    And old US silver coins are highly recognizable. And right now they are cheap and easy to find --that will change

  10. #9
    Senior Member


    Join Date
    Dec 2012
    Location
    West WI
    Posts
    5,102
    I would rather have something of value instead of shiny metal. Like guns, supplies, land, tools, animals etc. Take your shiny metal and US currency and trade it for something of value, NOW. Meaning something you can use to survive or that will be "useful" to other people for barter.

    Paper money, stocks, mutual funds etc, will be worth what in a SHTF situation?? Remember the stock market crash. Yeah I know that could NEVER happen again. I think you need to think about out how far down the drain society will go. Two days after a winter storm the store shelves are empty. Lugging around twenty pounds of PM won't get you to far if nobody cares.

    1 case of spam will be worth what?? Pound of shiny metal? A big sack of toilet paper/currency will get you a 1 can, maybe?

  11. #10
    Senior Member


    Join Date
    Oct 2012
    Location
    PA
    Posts
    438
    Quote Originally Posted by budgetprepp-n View Post
    When TSHTF I don't think Mutual funds will do you much good. Gold and silver have had value before the beginning of currency and they always will.
    When the dust settles people in the US and other countries will have stuff they want to sell. What do you think they will use for currency?
    You can bet it won't be paper. Even if a new world currency comes out people will be shy of anything made of paper for quite a while
    Ok at first Food and survival items will what everyone wants. But that will change with a little time
    And old US silver coins are highly recognizable. And right now they are cheap and easy to find --that will change
    Gold and silver may have intrinsic value, but so do tanks and airplanes.

    Those who still control THOSE assets are the ones who will control the power.

    Yeah I will probably maintain some gold... maybe 5-10% of my investments... But when SHTF, mark my words, you won't be wiping your ass with gold and you won't be shooting big game with it either.

    And if SHTF bad enough, I'd just assume not re-join society and just stay in the woods for good if at all possible.

 

 
Page 1 of 3 1 2 3 LastLast

Sponsored Links

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Similar Threads

  1. White gold vs Yellow Gold price difference?
    By ElennaRoma in forum Economic, Precious Metals, Investing, Finance
    Replies: 11
    Last Post: 03-16-2014, 06:13 PM
  2. Greetings from the left coast!
    By Xploregon in forum New Member Introductions
    Replies: 27
    Last Post: 02-22-2014, 08:10 PM
  3. The Left is at again
    By Gunner's Mate in forum General Talk
    Replies: 1
    Last Post: 01-30-2014, 09:01 PM
  4. New to forum, just moved to DFW
    By thunderinms in forum New Member Introductions
    Replies: 5
    Last Post: 01-09-2013, 07:17 AM
  5. Melting gold (Reclaim gold from old jewelry scraps)
    By ChickenLittle in forum Economic, Precious Metals, Investing, Finance
    Replies: 3
    Last Post: 04-06-2012, 11:14 PM

Tags for this Thread

Back to Top