[ladams]

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

 

[sparkyprep]

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.

 

[Denton]

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...

 

[budgetprepp-n]

I have done well trading using old silver US coins

 

[pharmer14]

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.

 

[inceptor]

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.

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.

 

[budgetprepp-n]

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

 

[budgetprepp-n]

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

 

[Chipper]

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?

 

[pharmer14]

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.

 

[PaulS]

Precious metals are just another part of the preps you should make. Gold is protection against inflation and it can be used to pay your property taxes and such once the SHTF is over. Silver is OK for barter or to store for protection against inflation and it is used as currency.

Gold is more than a "preety metal" used in jewelry. It has commercial uses in applications where low electrical resistance and corrosion resistance is necessary. Almost all electrical conductors for low voltage application are made with gold plated connectors. Silver too has a myriad of commercial applications. Their most important property for the prepper is that the world accepts them as valuable simply because they are rare and useful.

 

[Conundrum99]

Gold will be very hard to cash out if it goes to 3000K an ounce. I have been investing in silver 1oz, 1/2 oz,1/4 and 10th oz eagles and maple leafs. also some 10 oz bars for the big purchase. however I have invested in the currency of the future for many years now 9MM, 22 CAL, 5.56mm and so on. I call this my composite precious metals, copper, lead and brass.

 

[Smitty901]

Gold first 22 months Jimmy Carter up 73%
Under Obama first 22 months up 72%
Reagan 2%
G Bush 3%
Time is everything And when the Carter rush came down those with bad timing lost every thing a many killed them self.

If you have real coins the are legal tender and have loop holes in tax reporting .
I know a country that was on the Gold standard and went off it but know of none that were not on it and went to it.
You seem to forget it was not to long ago owning bulk gold was a crime. What is to stop them say another Obama king for setting a price and forcing you to turn it over. Can't happen? Read your history books. They did it once they can do it again.
If cash and other investments become worthless so will your gold you will not have a large enough army to hang on to it.

 

[StarPD45]

Some of the large banks are limiting how much "money" you can take out of your accounts.
Others are requiring ID to do larger transactions in cash; well below the $10,000 fed imposed limits.
Just a thought to consider.
The good thing about silver coins, i.e. pre-65 quarters, etc. is there is no paper trail.
What they don't know can't hurt you.

 

[Andygold1]

Great thread

 

[Boss Dog]

Forget gold. Brass & lead, brass & lead.
Gold and silver will be hard to use. How do you make change on a piece worth $1000 or more? You know the old game?, someone wants or needs an item desperately, all you have is a $100 bill. The seller says "here you go... I don't have any change".

 

[SAR-1L]

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...

Wouldn't that mean we are not allowed to barter or trade then? We would have to at least exchange one dollar to make it legal. That seems silly.

 

[Montana Rancher]

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

I am so annoyed that my response before got lost

IMO ladams is a troll, seriously he has 1 post on the forums and sucks all you trolls into his web

IMO ladams is a government plant, don't reply to him or give up your basic preps!

 

[Smitty901]

Take a real close look at the dumpster clean off the clay.

 

[Slippy]

I am so annoyed that my response before got lost

IMO ladams is a troll, seriously he has 1 post on the forums and sucks all you trolls into his web

IMO ladams is a government plant, don't reply to him or give up your basic preps!

This thread is a sad reminder of the boating accident over the Marianna Trench in the Atlantic Ocean where I lost my guns/ammo AND gold. Damn you ladams for dredging up these bad memories!