Russia confirms that they are launching a BRICS currency backed by #gold. The US dollar is in trouble
(twitter.com)
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That's what I wonder. I've stacked a very modest amount of silver, not as an investment, but as a hedge against currency collapse. But that will only last me for a finite time... it depends on how long the financial collapse goes on.
If you go here -- https://www.kitco.com/charts/livesilver.html and here https://www.kitco.com/charts/livegold.html -- and compare silver and gold charts for 5 years and 10 years, you'll see that the two metals fluctuate in value in almost parallel ways. Gold goes up, silver goes up...gold goes down, silver goes down.
So I would imagine that in any scenario where gold would be a means of paying for things, so would silver.
Good. Been stacking silver for a year and put a big chunk of savings into it.
I'm kinda thinking that when SHTF money in any form except food and medicine will be useless. You can't eat gold or silver and the dollars will only be good to keep us warm.
This is a common belief, but I don't subscribe to it. There will always be those with more than they can consume/use. They don't need more food. It will just spoil. Some believe only land will be valuable, but land needs to be defended, and there is a limited number of people anyone can trust.
So even if it really got to this level of SHTF (which I think is unlikely), there will still be someone who is wealthy willing to trade excess food or land for gold....or weapons. Shiny rocks don't expire, and are relatively easy to protect. There will be a market. It won't be me making that market, but I'm sure there is someone out there who is beyond self sufficient and ready to take advantage of that.
Maybe... but humans are forced to acquire resources -- food, shelter, transportation -- by our very nature. Some will resort to crime to get theirs, others will barter, others will do unscrupulous things to get what they need. Silver and gold will most certainly be one way of obtaining things, because whoever takes it in trade will then use it to acquire other things. Humans are economic beings, whether we trade in grain, trade our skills for things, or hunt or fish to provide for themselves and others.
Economics is built into our DNA...trading one thing for another. Westerners are just used to trading currency for their needs and wants, but the history of mankind has a much longer trait of bartering -- and of raiding and stealing -- to get what they want and need.
Be prepared to repel robbers with extreme prejudice, and treat others as you would have them treat you. We'll get through this, but a little silver and gold will make our lives easier than those who did NOT prepare for this moment.