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Silver?
Submitted by Retrocon on Sun, 09/28/2008 - 12:58
Quick question...lots of talk regarding the necessity of having gold / silver on hand if the economy / society collapses. What form should the silver be in, and if you were to buy say coins, what denomination should you buy, ie, quarters, halfs, etc. Just wondering! Thanks. » |
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Here's my suggestion:
Contact Midas Resources here: http://www.midasresources.com/Contact.html
and ask them if they have a list of people or merchants who will accept gold and silver at it's current rate.
Then contact a food company like e-foods direct here: http://www.efoodsdirect.com/contact.html
and ask them if they can start accepting gold and silver at it's current rate.
It would be a big step if people could take all their money out and start using it for their needs. The unfortunate thing is no one right now is set up to accept alternative forms of currency.
http://killfiat.blogspot.com/
Here's a good place to find it
http://www.infowars.com/midas/
As for paying with silver....the jury is still out on that. Some people foresee a mad max scenario where all the dollars you have now will be worthless and hard assets-like gold/silver and other commodities will be worth something.
The funny thing is I have never seen people saved from having silver or gold when depression hits countries. In the first depression the government raided security boxes and stole silver and gold and made it a felony to hold onto gold and silver. Right now the Treasury is testing the waters by stopping the selling of gold coins.
In the collapse of Russia the barter scheme was in effect-so people with tradable items survived and the same scenario in Argentina. I don't know of anyone who would take gold or silver for payment now. That's why it is important to establish a network of suppliers who will accept these alternative forms of currency. The problem is no one wants to do the work to set up such a system, and the few that try to set up a system get no survival need suppliers interested.
So, each us needs to be an engine of change.
http://killfiat.blogspot.com/
This shows why it's
This shows why it's important not to put all of your eggs in one basket. I've made a list of about 30 or so *essentials* that I am going to try to get/stock up on in the next few weeks/months/years.
“Liberty means responsibility. That is why most men dread it.” -George Bernard Shaw
I just bought my first
I just bought my first silver (after receiving advice on here) and I went with mainly silver dollars which are 1 ounce of .999 pure silver. I payed about $5 over spot from a local coin dealer, but it was worth it for the anonymity. I also got a bunch of (pre-1965) "junk silver" dimes for $1 each. These are .90 pure. I've heard that 10x face value is standard for junk silver coins.
“Liberty means responsibility. That is why most men dread it.” -George Bernard Shaw
What I meant was...
What would you expect to be able to do with coins in a worst case scenario...would they still be face value, or are you saying that they would be worth 10x face value?
Thanks.
The Retrocon
Hope for America, Ron Paul for President in 2008!
The Retrocon
Hope for America, Ron Paul for President in 2008!
No, I would expect the dimes
No, I would expect the dimes to go up significantly higher than 10x face value. I really don't know enough to say how much, but the price of silver seems to be so manipulated right now. It's definitely artificially low.
The silver dollars are already 13.5x face value.
As far as worst case scenario goes, I don't really know what I'd be able to do with the coins, but I'd certainly expect that people would be more willing to trade something of value (food, gas, etc.) for silver rather than worthless FRNs.
“Liberty means responsibility. That is why most men dread it.” -George Bernard Shaw