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Reserve Currency

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Reserve Currency

Postby Cadit » Thu Jul 20, 2017 3:26 pm

OK; I've talked with a lot of people that say that have their reserve currency in Gold and Silver. As I said to them, with all your savings or retirement tied up in precious metals. What are you going to do about moving it if it is necessary. If its in a bank, you want be able to get to it. If its in a private storage, the same applies. At home under the bed or in a safe or where ever you think you can hid it. If it's your savings or retirement funds, then you have thousands of dollars in gold and silver. That's a lot of weight, how are you going to move that much weight if it's stored at home, a storage unit, or other location not you BOL. Most people keep it close by incase they should need it.

OK: I've got a thousand pounds of Gold and five thousand pounds of Silver, divided in two locations. Not my BOL. And now it looks like I am going to have to move to a safer place or my BOL. I can carry a few pounds of silver and gold, but not much. What about all the other I have left? You're thinking you wish you have that much Gold and Silver squirrelled back, I do too. The problem still remains, how to security your reserves and continue to retrieve some when needed? Any Ideas out there?
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Re: Reserve Currency

Postby Blondie » Thu Jul 20, 2017 6:08 pm

If I had 1,000 lbs of gold at today's market value of about $20M, I'd pay someone to figure it out for me.
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Re: Reserve Currency

Postby RockinB » Thu Jul 20, 2017 7:04 pm

I'd be hanging out with Blondie trying to sell her some cows...
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Re: Reserve Currency

Postby handyman777 » Fri Jul 21, 2017 6:27 am

If I had that much, I would break it up and bury it in "A LOT" of different locations with a map and (memory) that I or a close family member could decipher (only), and take my chances. Even if it was found - it would not all be found together. Anyways gold and silver won't do you any good at TEOTWAWKI event can't eat it. So the little bit of PM's I may have will be tagging along with me. Today's gold price is 1237.00 per "OUNCE"
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Re: Reserve Currency

Postby Gunns » Fri Jul 21, 2017 9:04 am

I would be surprised if any of us have that much gold or silver. Its like any prep item.
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Re: Reserve Currency

Postby DR1VENbyKNOWLEDGE » Fri Jul 21, 2017 10:34 am

You bring up a very valid point for some preppers....

I don't have much, but YA, IT's HEAVY!!!

Anything involving non-working vehicles in a scenario and you're screwed if bugging out. Gold id great for barter is sealed, certified, and in gram bars but you cant eat it...just like silver.

Silver is more likely to be bartered with as Junk silver, or silver eagles since there are so many counterfeit bars out there...lets just say I wont trust a stamped bar as authentic with all the fakes I've seen.

now silver in any significant worth gets HEAVY....So ya, there in lies the problem if bugging out. ....food/water/shelter will be your priority and after that there will not be much weight left for hoofing it anywhere with silver in any meaningful quantity.

Pre-stash is your only logical solution...If you cant get to said stash you're going to have to just forget about it until a working vehicle/cart can be used safely at a later time to did it up.



LOL....I can see it now....Far into the future, after some calamity a new society having a PBS special titled "Prepper's Gold!" ...viewing our stashes being found like we view olden day pirates booty stashes now...lol :)
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Re: Reserve Currency

Postby NJMike » Fri Jul 21, 2017 10:41 am

Figuring out how to store and carry an excess of PMs would be a great problem to have.

I don't have that problem. :closedeyes:
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Re: Reserve Currency

Postby Cadit » Fri Jul 21, 2017 11:34 am

Thanks for all the comments and yes; I did go overboard on the weight, but to make point. I see that each of you think much that same, it would be a burden to have a large amount of either. If I had any Gold or Silver, it would be in small amounts: 1/8 gram, 1/2 gram and so on. No bars, just old silver and Gold coins. I was a treasure for about 35 years and it's been reported that there is more money buried than there is in circulation. I've found my share of silver, but much less in the old gold coins. It's amazing how our former generations buried their money and valuables to keep them safe from robbers and looters, only to die and no one else knew where it was buried. The tells I could tell.

Anyway: Handyman had in my opinion one of the better options; burying your cash and make sure that your most trusted kin knew also. Maybe even have them contributing to the pot so that both parties were invested. Plus: I too am a firm believer in Multiple bury plots, no need to have all your eggs in the same basket as the old saying goes. I like panning for gold too, fun and relaxing, and if you happen to find a good spot, profitable.
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Re: Reserve Currency

Postby daaswampman » Fri Jul 21, 2017 5:33 pm

Have you ever seen a million in gold? It would fit in a small shoe box with lots of room to spare and weigh about sixty pounds. Really not much of an issue to hide or move. Silver takes up more room, but a lot goes in a dozen ammo cans. If you have more than that, then you have the resources to afford proper storage, such as a hidden safe room or buried vault. Swamp
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Re: Reserve Currency

Postby Cadit » Sat Jul 22, 2017 2:29 pm

I know what you're saying, and believe me; I hide mine well. I put mine in a plastic tube and seal the ends, Then I take an auger and drill a hole in the ends of my rafters and slide one in each rafter and place a wooden plug back into the hole. The only issue would be if the house should burn down. I don't think that will happen because there Is no power to it, Its wired but no power. Did the same at the boat house, no power there either, and no heat. I did all my supplies like that, with different size lumber and a few other tricks to make them not stand out.

Anyway: your mind is your best tool for all things prepping and security. Like they say, hide in plain sight. Its amazing how much canned food you can hide inside a metal pipe.
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Re: Reserve Currency

Postby sageprice » Sat Jul 22, 2017 2:44 pm

So you have lots of PMs, the dollar fails. Exactly who are you going to sell it to? Exactly who will give you the total value for it. If the past has any story to tell, you are going to hold it for 27 yrs to get full value. Can you survive that long to be able to recoup your investment? Pms are only good for short term events of 1-2 years. Okay you say the world market will buy, who is your transfer agent? What is his cut? Better a hunting lodge as an investment. They can be lived in and sold to a rich sports man later.
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Re: Reserve Currency

Postby daaswampman » Sat Jul 22, 2017 4:57 pm

It is a matter of diversification for those who need a place to preserve wealth. I don't need another home, more land, or more supplies. As an associate told me - Gold knows no boarders! That is why its value is not dependent on the dollar, an economic recovery, inflation, deflation, politics, or any fiat currency!

You should consider small denomination silver as an alternative for currency or barter and gold for wealth preservation. That is what the "old" money and many governments are doing right now. We are living in interesting times. Swamp
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Re: Reserve Currency

Postby Cadit » Sun Jul 23, 2017 7:10 am

I have read that companies are starting to except gold and silver as payments, no script. And more and more companies are starting to do this. I've also read where the government is trying to stop this or at least have control over the exchange. Not very much information out there to give any insight as to what may develop. But like always; the government is scared they might miss getting their share. As far as stowing away any gold and silver, it's not to be able to exchange it later for paper money, but to use when paper money is no longer around. Remember: it wasn't that long ago that our paper money was backed by gold. And from what I've read, Russia and China both are buying up gold to back their money, we aren't, there's even been a movement to band the purchase of gold by the American citizens, making it illegal to own gold again in the US. It fell to pass.

That's like when they went from the gold backed dollar to the reserve note, it was illegal to possess gold and silver certificates, the only exception was if you were a licensed collector. I don't know if that has changed or not, but do remember there being a deadline at that time to turned in any gold or silver certificates that you had. What got me was the American people, like sheep, searched their paper money and all bills that stated that it could be redeemed for gold or silver, and took them to the banks to exchange them. Sad; stupid little sheep.
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Re: Reserve Currency

Postby Dirk Williams » Sun Jul 23, 2017 5:03 pm

I have learned that my gold and silver, physical ownership has another value. My wife can't take it out of the bank, and give it to my kids, or grandkids. Kind of a saving of my savings kinda thing.

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Re: Reserve Currency

Postby daaswampman » Sun Jul 23, 2017 5:16 pm

The very rich did not comply and many shipped there gold overseas. That is why collectors can still buy antique U.S. gold coins in uncirculated condition today at modest prices! I wish the skeptics could visit Dubai and see how gold works. Dubai is now among a handful of cities, that the worlds elite are flocking too.

When the dollar starts to flop, gold will skyrocket as trillions of fiat dollars chase real wealth. Foolish people will accept those dollars as old habits die hard and they will still see dollars as wealth. There will literally be gold buyers on every corner. The world is not limited to America, our dollar, or our inflated ego!

A good example is what is happened in Iran. During their wars with ISIS etc., the pickers are making a fortune on the antiquities flowing out the country and they pay in gold. It is always the same and there will always be people with money and those who what more.

I dare anyone to show me a single documented time - in all of human history, when there was not a market for gold. It is nothing more than a poor persons fantasy, that we are all be equal and will starve together. Don't resent it - use it to your own advantage! What will the people with resources need and want? Swamp
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