With rumors of DJT returning us from the fiat Federal Reserve Note to a gold-backed Treasury Note...
►Is anyone buying physical silver or gold to barter with?
►What might happen with the stock market?
►What if the power or internet goes out and banks and ATM's are not available?
I should have bought some, but I've been investing in canned food and lead.
I bought silver coins at the end of December
Not a money guy but small silver coins are probably a good bet for investing + bartering. You lose some money investment-wise by buying smaller coins, but they're more divisible.
trying to load up on Silver, don't have a large portfolio in stocks but i did tell my financial advisor to go all cash this past Friday.......but who knows....everything is a total guess right now. Trump Won!!!
I bought some today actually. Gold is sold out here at my most local shop and I bought what they had left in 5-10 oz bars.
There are online places too that ship insured.
Yeah, I just didn’t know about waiting on the product at the mercy of what might or might not go down in terms of outages and whatnot since I was late to this party :(
Yes. Been bulking up a ton for my family.
Always buy American Made. http://www.Scottsdalemint.com
If we return to a metal-backed Treasury Note, will that change the value of gold or silver? Will that same silver coin buy the same amount of goods?
good question, and yes it will buy the same amount. Around 1900, a 20 dollar gold piece would buy you a nice men's suit made to fit. This year one oz. of gold will buy you that same suit. The value of the dollar continues it's downward spiral every time the nice government men pass another multiple trillion dollar spending bill. If Biden takes control that will continue, and the dollar will be decimated. Historically people have jumped into silver/gold when the dollar value falters. They go up as the dollar declines. We are in for some major jumps in silver/gold if Biden gets inaugurated...
THINKING ABOUT IT, SHOULD HAVE ALREADY DONE SO.... WHAT THIS
https://youtu.be/CaZSxvO4T3M
silver coins are a fuss - a 1oz coin is only worth $30-40, maybe $50 at a pinch in a crisis - if anyone knows WTF it is.
1oz is 31g, so to carry any decent value you need KILOs of the stuff....
Gold makes better sense.
Silver is highly undervalued. Gold is certainly valuable and flashy but do you know how much we rely on silver in our world? Maybe you could into it if you have some free time.
Updoots are great but please, any money smart guys please chime in :-)
There are a couple plays here...
You could with the miners/producers through an ETF or direct equity. Essentially this is what Warren Buffet/Berkshire Hathaway did.
You could buy an etf that trades futures what many people do. It’s paper, and no one knows for sure what happens in a squeeze...
You could still go ETF that stores the bars for you physically. (I do this partially). SGOL is stored in Switzerland. They have a silver equivalent as well. You can then go back and forth trading one in for the other depending on the silver to Gold ratio.
The last part is physical where you possess it. It’s harder to trade. Can’t be in an IRA (they I know of) but depending on the state is not subject to state tax. We’ve never had a global reset, or anything close to it, but the theory is that this is the only true way to make sure you won’t get screwed.
For transparency: I have ETF l positions in physical gold and silver both with Aberdeen (SGOL). They are in a retirement account so I can bounce back and forth when the ratio changes. I have some silver in coins for a SHTF scenario, and also have some exposure with a Mutual fund that covers precious metals miners etc through Invesco. It’s an old account that was set up when I was 12, and is sentimental so I don’t take it out just move the mix around (yes I know mutual funds are not tax efficient).
We need a finance.win
The market will drop intially, recommend buying when it does, it will recover after the chaos