I think if you're going to invest in gold/silver, it would be better to actually acquire the gold/silver you're investing in. Saying you have it on paper likely won't be enough during a severe economic crisis, which I also believe is on the horizon for the near future. Actually having the goods is more dangerous, less insurable, but more guaranteed. I would say that that is up to you.
I think in a lot of ways though, your investments should reflect how bad you think the coming economic crisis will be, and how damaging it could be to the infrastructure around you. A better investment might be solar cells for your roof, a rainwater catch/purifier system, and acquiring things like firearms and ammo. Look at this way, if nothing happens, then you have gold/silver that might have slightly appreciated in value that you're terrified of selling for the rest of your life for fear of the economic crisis hitting the moment you do in fact sell it off and that money becomes worthless--or investments towards your property that could alleviate any tension caused by economic hardship. As long as your property is guaranteed to remain yours, that's the main thing you should worry about, and investments to improve said property and protect it would be better than silver/gold in a safe. Solar cells will help over the course of your lifetime by reducing or eliminating that utility bill, same with the rainwater system if that proved beneficial enough. And guns and bullets are just fun to play with, hopefully nothing you ever need, but guns can also appreciate in value if maintained properly. Guns can absolutely become collectors items......... especially on the black market if said gun becomes illegal in the future. Food for thought.
Good points. I can see how stockpiling gold/silver won't do me any good for self-sustainability if everything went to shit. Where as having practical items (solar panels, water purifiers etc.) will go a long ways in tough times.
At least with a stockpile of gold/silver in hand, you could actually do trading. If everything really went to shit though, and you just had a paper saying you had access to gold/silver but you couldn't actually do anything with it, that paper would be useless. The problem there would be finding people who find gold/silver valuable enough to trade, and then not valuable enough to steal your horde if you don't also have any method of protecting it.
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AnonymousMoose ago
I think if you're going to invest in gold/silver, it would be better to actually acquire the gold/silver you're investing in. Saying you have it on paper likely won't be enough during a severe economic crisis, which I also believe is on the horizon for the near future. Actually having the goods is more dangerous, less insurable, but more guaranteed. I would say that that is up to you.
I think in a lot of ways though, your investments should reflect how bad you think the coming economic crisis will be, and how damaging it could be to the infrastructure around you. A better investment might be solar cells for your roof, a rainwater catch/purifier system, and acquiring things like firearms and ammo. Look at this way, if nothing happens, then you have gold/silver that might have slightly appreciated in value that you're terrified of selling for the rest of your life for fear of the economic crisis hitting the moment you do in fact sell it off and that money becomes worthless--or investments towards your property that could alleviate any tension caused by economic hardship. As long as your property is guaranteed to remain yours, that's the main thing you should worry about, and investments to improve said property and protect it would be better than silver/gold in a safe. Solar cells will help over the course of your lifetime by reducing or eliminating that utility bill, same with the rainwater system if that proved beneficial enough. And guns and bullets are just fun to play with, hopefully nothing you ever need, but guns can also appreciate in value if maintained properly. Guns can absolutely become collectors items......... especially on the black market if said gun becomes illegal in the future. Food for thought.
sec ago
Good points. I can see how stockpiling gold/silver won't do me any good for self-sustainability if everything went to shit. Where as having practical items (solar panels, water purifiers etc.) will go a long ways in tough times.
AnonymousMoose ago
At least with a stockpile of gold/silver in hand, you could actually do trading. If everything really went to shit though, and you just had a paper saying you had access to gold/silver but you couldn't actually do anything with it, that paper would be useless. The problem there would be finding people who find gold/silver valuable enough to trade, and then not valuable enough to steal your horde if you don't also have any method of protecting it.