Another thought about gold

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WillyPete

Another thought about gold

Post by WillyPete »

My thought is, other than scientific, technical and engineering value, the only real value gold seems to have is that it is shiny and it does not tarnish. You can't eat it and get any nutritional value out of it, you can't drink it and re-hydrate, you can't use it to bandage a wound, you can't use it to cover your nakedness, you get the idea.
Gold's only value outside of engineering, etc. is that it has a perceived value because it is shiny, it's pretty and it is desirable because of that. Other than that it has no real worth.
I am very knowledgeable of the fact that gold can be used to procure items of great use but, in order to do that I've got to have this gold to trade for what I want and, I must trade it to someone who wants my gold and will trade what I want for my gold. I've got to work very diligently to obtain the gold at incredible personal cost now and, I still can't eat it no matter what it's value, perceived or real.
As far as I am concerned, gold is a bad investment. I'd rather stock up on what can take care of immediate and essential needs than a bunch of shiny metals.
Even if the current economy goes down in flames overnight, I am not without means of surviving and those do not require gold or any other precious metals. Well, I will exempt brass and lead, and maybe copper, which I will make use of it to survive but, no gold and no silver, I don't need it. The complete collapse of the US dollar is inevitable and will likely cause the rise of a new barter currency that will probably be based on some nonsense like our current dollar is, and just as fickle. I imagine private ownership of precious metals will once again be outlawed as has been done in our history but the potential consequences are as yet unknown.
I have decided that my stores will be based mainly on the three Bs; beans, bullets and band-aids, and precious metals will be what I have right now on hand. I won't go caroming off the walls of the city seeking the impossible deal to purchase tons of gold and silver for pennies or nickels so that I can lord it over those who have not purchased their tremendous stocks of precious metals. I can't eat gold and silver and I won't make the attempt.

Thoughts anyone?
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308gun

Re: Another thought about gold

Post by 308gun »

how about saving lead , make bullets, and sinkers for a fishing line ,, has real use and value...
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WillyPete

Re: Another thought about gold

Post by WillyPete »

I have a 50 pound block of plumber's lead used for sealing floor drains that can be used for all of that. I'm planning to buy another one or two so that I'll have plenty of lead for when I need it. I can harden it by adding tin to it if needed, I have plenty of 95/5 solder in the garage.
Gold is just something that I will not be buying anytime soon.
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308gun

Re: Another thought about gold

Post by 308gun »

Just read a report by Bob Livington,he says buy gold, silver, food, water, now very fast, also I would say I am going to buy some bags lead shot to reload with or trade, Bob L. says the reason is the US government is in a state of collapsing NOW along with the FED. RES. he says will go very fast and green backs become useless, and expect to see blood in the streets VERY SOON... :po'd: KEEP your power DRY........
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WillyPete

Re: Another thought about gold

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Guess I'll invest in another keg or two of powder. Plus bullets, primers, wads, shot, loaded ammo, guns. Just bought another shotgun, may want another soon.
I'll be getting some foodstuffs for storage and have a well for water. I just tanked up my gas cans so I can run the generator for water for awhile and I have some 20 pound propane bottles filled for when the gasoline runs out.
Foodstuffs are my biggest concern with several people who are "non-believers", as I am not. It's kind of difficult to keep materials and supplies put away when there are no secure locations anywhere on the property.
Most of what I have is hidden in the garage and it's a mess in there, no one but me will go plunderin' around in there with all that mess.
There's plenty of forage around here so I can gather what I can and I have the means to get a garden going anytime necessary. There's still plenty of small critters that I can trap or harvest by other means.
Neighbors are an unknown quantity, no telling what they will do. I'll just go gray man and let them run off to wherever they are going to go then get down to the business of keeping my family viable. I just hope they cooperate.
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Re: Another thought about gold

Post by fern »

I imagine each area of the country will have its own set of needs when the time comes. Having gold is really good if you have a lot of money and need a safe way to keep it long term. Unfortunately, that is not me. Not too long ago I was trying to justify buying gold at $900 and now I wish I had found a way. Anyway...I have read posts and articles from those that say they will just buy bullets and take what they need. That can only work if you are a bad guy cuz how do you take when you could barter or buy from good people with long term knowledge and skills that benefit you and others? I think the basis for this forum is to try to prepare as best we each can in our particular locations and as well rounded as we possibly can. Medical, food, gardening techniques, defense, alternate power sources, everything else. I do my best to try to hit some of all of it each month and constantly keep reading and researching for more knowledge in every area of possibility. Then I spread that wealth to anyone that clicks on my emails.

If I had the ability though...I would be buying gold and a lot more silver. To me they are the long term investments and worthy additions to being prepared. As my much better half says...it is our retirement account now since there is no other form to count on.
“Laws are made for the weak more than the strong.” Ben Franklin
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WillyPete

Re: Another thought about gold

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Yeah, believe me, if I could be purchasing gold, silver, other precious metals that are desirable I would be getting as much as possible. Right now that ain't gonna happen so I'll have to make do with what little bit of gold and silver I already have. Some jewelry we purchased at vendors in the Black Hills of South Dakota, a bit of gold we panned at one of the tourist traps near Mt. Rushmore and what jewelry we already have. I once had a large collection of Mercury dimes but I haven't seen those for too many years, no telling what happened to them but I imagine I won't be seeing them again.
The precious metals I have and am acquiring are copper, brass, bronze, lead, tin, steel, aluminum, antimony and zinc. Most of the zinc is current coinage that is all base metal and is a PM no more. I have a large quantity of the rest collected over the years as scrap from my trade. I usually take it and sell it to a recycling center but haven't done that since the prices have been in too much flux for too long. Too much variation from day to day and now, since it is all bought with scrip, it's more valuable to me as metal than as cash. Not as valuable as gold or silver but, it does have value to someone else and I have quite a lot of it, measured in multiple pounds for some and hundreds for others.
Would that make me sort of wealthy of a sort? Doesn't matter really since if the metals have little worth to others, my skills, knowledge and ability will make me unbelievably desirable and subsequently, wealthy.
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Re: Another thought about gold

Post by fern »

Has anyone run into notices of buying/selling precious metals to be ending in mid July?
“Laws are made for the weak more than the strong.” Ben Franklin
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Re: Another thought about gold

Post by Toepopper »

Oh yes indeed. There have been notices sent to regular customers and signs up in the windows of coin shops that a new fed law has banned the over the counter sale of precious metals beginning July 15, 2011. This came about as a result of The Dodd-Frank Reform & Consumer Protection Act. Obviously it doesn't protect the consumers. Many over the counter precious metal businesses have already begun winding down their operations in response to this new law, so get your gold and silver while you still can.
There seems to be much confusion about the actual meaning of this law, some say there is an excemption for people who walk in and take physical delivery of gold while other dealers are shutting down business because they are uncertain of the meaning of the law and don't want to break any fed laws.

Is this just phase one of a total ban on gold and silver by American citizens?
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308gun

Re: Another thought about gold

Post by 308gun »

Look for Greece to go under soon, will be the EURO next, with the Dollar and world Markets falling in fast order , at that point all hell breaks loose , Gold and silver are for after we recover, that no one knows ... small coin will be best in trade, stay away from bars of gold , will be very hard to trade, history showed after both world wars coin was king.........
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WillyPete

Re: Another thought about gold

Post by WillyPete »

That's what I got to thinking about Toepopper. Possession of gold was outlawed, best I can remember of my history, back around WWII for individual citizens and others but re-allowed later on. With the fact that the almighty (lame) dollar is losing value faster than it can be printed, possession of precious metals may become verboten to us and we will be required, by some sort of coercion likely(read more taxation), to turn in our gold and silver in exchange for another scrip or, more suddenly useless dollars IF we receive any compensation at all. All because certain individuals in charge of our once mighty country choose to spend our money in a most wasteful fashion and take on more debt than "WE THE PEOPLE" will ever be able to pay back to our creditors. Makes my blood boil. :po'd:
Gotta love that golden rule, "He who has the gold, makes the rules". We need to remove those individuals from office forthwith.
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WillyPete

Re: Another thought about gold

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Decided to do a bit of research and found an entry on Wikipedia about the Dodd-Frank Bill, now law since 21 July 2010. Best I could gather from trying to read the incessant gov-speak is that the federal government and the federal reserve will be taking complete control of financial institutions in the US. Couldn't figure out when though.
I could not find any information about precious metals specifically but, like the commerce clause in our Constitution, there is likely to be some part of this law that allows the feds to take control of any and all precious metals. Here's a link to the Wiki information: http://en.wikipedia.org/wiki/Dodd%E2%80 ... ection_Act
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Re: Another thought about gold

Post by fern »

“Laws are made for the weak more than the strong.” Ben Franklin
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WillyPete

Re: Another thought about gold

Post by WillyPete »

Patrick Heller gave the best explanation I've seen. We'll still be able to buy and sell PMs but, probably the price will increase more than we'd like due to fed interference.
Being unemployed still, PMs are not in my immediate future and will, in all likelihood be priced considerably out of my reach even after I return to solvency.
Good thing I still have the three Bs. Beans, Bullets and Band-aids.
Looks like only the larger, more fluidly financed businesses and such will be having to deal with these new regs in the next 10 days.
I still don't understand futures trading, the future can't be known as well as some may believe it can so it doesn't seem right to trade anything on "maybes".
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