No more than only holding silver and gold would I only hold live stock. Even my son in law who has 1000+ head on his ranch has precious metals and a diversified storehouse of food and goods. That was theblesson his great grand parents left them when their live stock took a hit from drought. Couldn't grow enough food for the 200 head they had at the time. Lost them all, gold saved them when they started over.
Precious metals is not an investment, it's a hedge
It's much better for people who have not yet accumulated wealth to invest their time and energy building and buying things that will make them more wealth. Those who are already secure in their wealth generation may want to hedge against their investments with gold and silver.
IE, if the cattle prices fall, I may lose a lot of money on my cattle, but that's ok, I have reserves I can fall back on until cattle prices come back.
No more than only holding silver and gold would I only hold live stock. Even my son in law who has 1000+ head on his ranch has precious metals and a diversified storehouse of food and goods. That was theblesson his great grand parents left them when their live stock took a hit from drought. Couldn't grow enough food for the 200 head they had at the time. Lost them all, gold saved them when they started over.
Diversifying your investments is a good idea
Precious metals is not an investment, it's a hedge
It's much better for people who have not yet accumulated wealth to invest their time and energy building and buying things that will make them more wealth. Those who are already secure in their wealth generation may want to hedge against their investments with gold and silver.
IE, if the cattle prices fall, I may lose a lot of money on my cattle, but that's ok, I have reserves I can fall back on until cattle prices come back.