Gold isn't going to do me a lot of good when I need ammo. Or a saw. Or a shovel.
It's a timing thing, solid tools and objects may not appreciate in value in our normal world but may skyrocket in the post-apocalyptic, where trading gold around will be a hassle to find people who see worth in it.
I have a good selection of quality hand tools. Planes, chisels, saws, anvil and smithing hammer. They serve as both a hobby and an insurance policy.
If you're wanting to buy ammo or tools in a SHTF scenario, Gold will not be particularly useful, Silver is what you would want for that. Gold would be useful if you needed to move somewhere and buy land or capital equipment when you get there though.
The real assets are skills though. The knowledge and practice of being able to build or repair things and to be able to grow, preserve and cook food are more valuable than any material possessions.
The first investments I ever made were heirloom seeds and guns/ammo along with some land (which I mistakenly went into debt for). I have thousands of rounds of every type of weapon I own, and I continue to add a few hundred every month, so I guess we are in different investment phases of our lives.
Precious metals will nearly always be valuable in the long run as industry picks back up after a collapse. I don't see us ever going to a Mad Max style scenario unless there is a nuke dropped or a giant solar flare hits, so gold/silver are a great protection vs. "money printer go brrrrrrrrr". Metals aren't going to give 1000% return in 5 years like bitcoin, but they will always have value due to their usefulness in industry, specifically in electronics.
But the real idea of this quote is to avoid debt slavery.
Setting aside economic abnormalities - in relative fiat terms anyway - this is usually true. An ounce of gold will trade for other goods based within a range. This ratio will severely skew in the extremes, but return to the ra
Skills, knowledge, self-improvement give the most dividends. Then tools and supplies (which includes defense and ammo). If you've got a lot of excess, metals seem better than other stores of value.
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tankingwrong ago
Gold isn't going to do me a lot of good when I need ammo. Or a saw. Or a shovel.
It's a timing thing, solid tools and objects may not appreciate in value in our normal world but may skyrocket in the post-apocalyptic, where trading gold around will be a hassle to find people who see worth in it.
Bill_Williamson ago
Gold isn't used for such transactions, silver is.
philmchawk ago
This is has never in all of history been true. At least attack fiat money which would make it true.
Gumbatron ago
I have a good selection of quality hand tools. Planes, chisels, saws, anvil and smithing hammer. They serve as both a hobby and an insurance policy.
If you're wanting to buy ammo or tools in a SHTF scenario, Gold will not be particularly useful, Silver is what you would want for that. Gold would be useful if you needed to move somewhere and buy land or capital equipment when you get there though.
The real assets are skills though. The knowledge and practice of being able to build or repair things and to be able to grow, preserve and cook food are more valuable than any material possessions.
Had ago
The first investments I ever made were heirloom seeds and guns/ammo along with some land (which I mistakenly went into debt for). I have thousands of rounds of every type of weapon I own, and I continue to add a few hundred every month, so I guess we are in different investment phases of our lives.
Precious metals will nearly always be valuable in the long run as industry picks back up after a collapse. I don't see us ever going to a Mad Max style scenario unless there is a nuke dropped or a giant solar flare hits, so gold/silver are a great protection vs. "money printer go brrrrrrrrr". Metals aren't going to give 1000% return in 5 years like bitcoin, but they will always have value due to their usefulness in industry, specifically in electronics.
But the real idea of this quote is to avoid debt slavery.
Bill_Williamson ago
I wouldn't be so sure about. Anyway the point of owning pm's is about wealth preservation.
AbalbalAndPhoenix ago
Setting aside economic abnormalities - in relative fiat terms anyway - this is usually true. An ounce of gold will trade for other goods based within a range. This ratio will severely skew in the extremes, but return to the ra
FactsNblacksDontMix ago
I'm currently looking to purchase a tact of land, what did you end up buying(acres)?
MrPancake ago
Agreed. I have a little in the event I run across a (((trader))); but most goes into ammo and supplies.
prairie ago
Skills, knowledge, self-improvement give the most dividends. Then tools and supplies (which includes defense and ammo). If you've got a lot of excess, metals seem better than other stores of value.