Gold & silver after currency collapse

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  • Wed, May 26, 2021 - 02:32pm

    #1
    suited72

    suited72

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    Gold & silver after currency collapse

If the Western financial system were to collapse, and I am more convinced than ever that it is inevitable…how would precious metals protect? I’m concerned that in history, having gold or silver just meant that when the country needed it, they simply confiscated it.

Also, if things were to get tight with food and you grew your own how could you protect that?

I genuinely can’t see any positives at the minute and need to find some inspiration. ✌🏻

  • Wed, May 26, 2021 - 04:00pm

    #2
    pyranablade

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    Gold & silver after currency collapse

Hi suited.

Well sure, in the worst case scenario we are screwed and helpless no matter what.

But collapse has already started (in an uneven way) so it won’t happen completely all at once and everywhere to everybody. If you grow a lot of your own food now and share some with neighbors, friends and family you’ll make the world (or at least your part of it) better, more resilient. If your neighbors know that you are reasonably generous, they’re likely to help keep your surpluses a guarded secret. Putting value on your social capital now will pay off when a crisis comes.

While we’re gradually collapsing already, there is still time to work on being more resilient. Even a crisis like hyperinflation will burn itself out and come to an end. Do what you can and celebrate that.

  • Wed, May 26, 2021 - 04:39pm

    #3
    ckessel

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    Gold & silver after currency collapse

Hi Suited,

Your comment gave me reason to pause:

” if things were to get tight with food and you grew your own how could you protect that?”

This question of security has come up many times in discussions I have had. Defending something is one situation that is wise to consider and be prepared for.

Having a deep pantry and being in a situation where people you may or may not know are going hungry is possibly more difficult to solve but in my estimation more likely of a scenario. It has actually already started with the rising homeless population.

Bottom line is to strengthen your community and create a surplus. I suppose that could still be stolen so to speak but it is much harder in a community of interested persons. That is also a difficult thing to create but very worth the effort.

Coop

  • Wed, May 26, 2021 - 07:23pm

    #4

    David Huang

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    Gold & silver after currency collapse

I’ll address the food part of your question too.  If you are concerned about how to defend your growing food I think a very good approach is to grow, and perhaps more importantly learn to recognize what is already growing wild, the foods most don’t recognize as food.  I’ve spent many years learning about wild edibles growing in my region and for many years have worked to get these and other edible perennials growing on my property.  Many were already here or have migrated in on their own.  I’m sure many more are around me that I still don’t recognize or know about.

At this point I can stand in most places on my property and within the square meter around me count 6 or more different edible plant types.  Most would only see unkempt “weeds” in these same places.

I’ll grant you the majority of these “hidden in plain sight” foods are greens.  Thus while being very  high in nutrition they tend to be low in calories.  Still there are more calorie dense things as well.

Someone once told me a story of a fellow who took this sort of approach with protecting his gold as well.  He had a block of it, painted black, used as a door stop.  When his place was robbed the thieves took jewelry and other things generally recognized easily as having value and walked right past the most valuable assets being used to hold the doors open!

  • Wed, May 26, 2021 - 07:53pm

    #5
    LBL

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    Reply To: Gold & silver after currency collapse

Well, right now a big supply of 2×6’s & plywood would come in handy.

Same for copper.

Theoretically Gold & Silver mean you hold an asset whose price rises with inflation.

Look at the assets whose prices have doubled & tripled since Covid19 started.

Gold & Silver are not in that category.

I think it’s important to read up on the Strong Dollar policy & to spend time listening to educated people talk about what (normal) currency manipulation means in terms of Gold & Silver prices.

Rick Rule, Jim Rickards, Alistair Macleod, Eric Sprott

They are all good people to listen to, about the PM markets that you would be participating in if you bought or sold PM’s.

  • Thu, May 27, 2021 - 03:30pm

    #6
    brushhog

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    Reply To: Gold & silver after currency collapse

I dont think confiscating citizen’s gold is “simple”.  In fact its never been done on a large scale to my knowledge. What happened in 1931 is they closed the gold window and gave people a time limit against which they could redeem their gold.

Essentially, they asked people to come and redeem their gold for dollars. “Confiscation” to me implies physically taking something by force. That never happened. Could it? In my opinion, no.

  • Sun, May 30, 2021 - 02:04am   (Reply to #6)

    #7
    suited72

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    Gold & silver after currency collapse

There are a lot of examples of confiscation. US Executive Order 6102 – (1933)

UK rule of 4 – (1966) the exchange control act.

With those two alone, I believe the president is set.

A Forced sale, to me would just be a modern legal confiscation. Whenever this happens it is only ever happening to exchange something of value for something that is intrinsically worthless.

Then there is eminent domain which allows every Western government to simply take any land you own for what they deem to be the public good. Spain is a modern regular example of a country that uses this all of the time.

  • Sun, May 30, 2021 - 02:53am

    #8
    suited72

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    Gold & silver after currency collapse

Im concerned that when the next financial crisis hits, they will move to digital currency and therefore have full control and audit of what is sold – its historically what they aim for and it’s what they are telling us. In UN / WEF releases they say that “you will own nothing and be happy” (agenda 2030) – that’s a pretty outlandish aim, and to be fair they’ve given a pretty detailed indication of what is entailed and when it will happen. I was thinking that the only way to achieve that from where we are currently is to make people actually want and demand it – can’t do that without a financial collapse.

After that, If there were a black market, outside of digital, I can’t see gold or silver having immediate need or demand. And if state owned the land, what can you do!?

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