Silver if the dollar fails?

[Keyser Soze]

I own some silver myself but more for investment purposes. It seems many people are buying silver and hanging on to it, worried the dollar may fail, hyper inflation ect. My question is this; if the dollar "fails" or if we get into hyper inflation what good will silver be? Yes you bought 100oz for $26 and once and its now worth $3432 an once, but now a can of coke cost $9.00. If silver directly reflected the worth of a dollar is it even worth stocking up on if the dollar fails? Wouldn't a foreign currency be a better choice?

If our economy completely falls out would you be able to purchase goods with silver? Can you feed a family with silver? IMO total failure of the dollar bartering skilled labor or goods will rule.

 

[grimor]

silver isn't worth anything to a starving person... i guess it just depends what "completely falls out" mean.

 

[JDonhardt]

silver isn't worth anything to a starving person... i guess it just depends what "completely falls out" mean.

If the dollar COMPLETELY FAILS, I would expect a barter system to become dominant. Personally, I wouldnt trade any of my stuff for any silver or gold - or diamonds for that matter.

 

[Steelworker]

Why do you believe that a foreign currency would be better? I wouldn't take pesos or franc in a post-shtf trade, but I probably would take your gold or silver. just curious.

 

[Hoosier8]

Right now silver trades at something like 50 to 1 against gold. If the dollar fails and silver becomes currency again, that ratio should go back to historical difference of 17 to 1 which it was before the UK demonetized it. As it is, silver is also more scarce than gold right now and there will be an increased demand for it in manufacturing. I think silver is a great investment right now.

 

[Keyser Soze]

Why do you believe that a foreign currency would be better? I wouldn't take pesos or franc in a post-shtf trade, but I probably would take your gold or silver. just curious.

Euro.

 

[JDonhardt]

Euro.

What makes you think that someone would accept payment in Euro's?

 

[kolob10]

Just remember that gold hit $1000/oz on the Hong Kong market in the late 60's. If one bought gold then it would have been a very bad investment. Guns and ammo on the other hand.........?

 

[djl02]

Anyone want to buy some Euro's I have some I'll sell you. Somewhere around 300 dollars worth. I'll take gold or silver in trade too.

 

[Hemingway]

Different people see precious metals as different things.

Personally, I think that if the dollar COMPLETELY fails, most other paper currencies will be worthless. People would rather take tools, ammo, services, levi's, tampons, etc rather than 1950 dimes.

Where I think PM's are valuable is in their ability to hold their worth as inflation soars. Example: You have $100k in cash in the bank and inflation hits a very conceivable 15% or so. A few years later, your buying power is in the toilet.

If you have $100k in PM's, and inflation hits, theoretically, your PM's still purchase the same things they did PRIOR to the inflation.

At least, that's my strategy anyway

In the most recent civilization/currency collapse (Argentina about 2000), gold and silver were in fact used to preserve wealth and as currency, but so was just about every other commodity known to man.

 

[E5RANGER375]

if your not stocked up on food and hygene items and water, etc, then you shouldnt be buying silver first. EVERYTHING will be easier ti find and buy now rather than after the disaster. just because you have silver doesnt necessarily mean jack, if bread is 100 ounces of silver per slice.

barter items are more valuable than silver and gold in my opinion. but that doesnt mean i wont have silver and gold.

you wanna know 2 things that will be the most valuable after a long term disaster, even more than food and water? ALCOHOL & Cigarettes. you stock up on those and have it when TEOTWAWKI hits and you will be wanting for nothing.

sure it can be made and grown, but how long will it take to get a steady stock of it? demand will be higher than supply for a while

 

[jclark]

if your not stocked up on food and hygene items and water, etc, then you shouldnt be buying silver first. EVERYTHING will be easier ti find and buy now rather than after the disaster. just because you have silver doesnt necessarily mean jack, if bread is 100 ounces of silver per slice.

barter items are more valuable than silver and gold in my opinion. but that doesnt mean i wont have silver and gold.

you wanna know 2 things that will be the most valuable after a long term disaster, even more than food and water? ALCOHOL & Cigarettes. you stock up on those and have it when TEOTWAWKI hits and you will be wanting for nothing.

sure it can be made and grown, but how long will it take to get a steady stock of it? demand will be higher than supply for a while

+1
If you offer me a chunk of metal in exchange for food, I will probably decline.
Learn how to brew beer or distill whiskey. Home made wine would also make a nice bartering item.

 

[Yeah]

Learn how to kill, everything you can see.

Thats my motto as I've no stash of silver.

 

[E5RANGER375]

Learn how to kill, everything you can see.

Thats my motto as I've no stash of silver.

as long as your on your own property then i see no problem with that. give beggars a meal and they will kill you and rape your wife.

 

[patton487]

Learn how to kill, everything you can see.

Thats my motto as I've no stash of silver.

What do you mean by that statement?

It sounds like your saying, "I have not planned ahead, I have no supplies. So I plan on killing and taking what I need."

Is this your plan??

 

[Jay]

If/when the dollar fails, there won't be much available in the way of exchange locations to trade silver/gold for anything. The valuable items, are gonna be guns, ammunition, and skills. If that time comes, and you walk into and out of a currency/silver/gold exchange facility, you may as well have a huge bullseye painted on your back. Survival will depend on being off the grid, and situationally aware.

 

[Oni7734]

This is exactly the type of people we need to prepare for...

 

[Jay]

This is exactly the type of people we need to prepare for...

Sir, if you'll use the quote feature, everyone will know which post you're referring to.

 

[Oni7734]

What do you mean by that statement?

It sounds like your saying, "I have not planned ahead, I have no supplies. So I plan on killing and taking what I need."

Is this your plan??

This is exactly the type of people we need to prepare for...

 

[Stschil]

Precious metals and other real, tangible commodities are your bank account for your future. If the SHTF, the banks will close. You will have no access to you funds and eventually, you won't even have them at all. The government already is working on ways to seize all IRA and 401K funds because these funds are not taxed upfront therefore they really belong to Uncle Sammy and not the wage earner who stashed it there.

Paper currencies are all 100% FIAT (something from nothing) and will hold no value at all. Silver and Gold have NEVER been worthless and they never will be. Everyone should look toward owning some as part of their SHTF preparations. But only after you've taken care of the 'beans and bullets'.

Don't get me wrong, no one should rely on silver and gold as their sole means of support. Hard goods, tools, food stores, tangible skills, weapons and ammo will play their part in survival. Bartering will be the main means of trade initially, and IMO should remain so. ( Something of value traded for something of value.)

Eventually, someone will get the big idea that banks and mortage companies and other financial institutions will need to be reopened. Keep in mind that this will most likely be done by the power elite who think they know better than the common citizen. Sound familiar? They will attempt to seize power during the caos and reestablish government in order to maintain that power. Depending on how this occurs, it is quite possible that all debt instruments owned by these entities will be reinacted. Debt is one way we are controlled by the elite. If we owe them, they own us. I don't think a bank is going to accept two chickens and a pig as a mortage payment. This is where Precious metals come in to play. If the values of these skyrocket against falling currencies, your relatively small investment now, could be more than enough to pay off your debt and free you from the controls that the 'new and improved' government think they will have over you.