Posted on 12/27/2013 5:44:30 AM PST by SeekAndFind
Since November, financial advisor David Marotta has been publishing a series of blog posts on how to manage your money in the event of a financial apocalypse—as in a world of hyperinflation, governmental collapse, and anarachic mobs. You know, the standard stuff of a doomsday prepper's fever dreams. While Marotta admits he has some fears about the direction of the country (the man's not an Obamacare fan, to say the least) most of it seems to be fairly tongue-in-cheek material aimed at talking potential clients down from investing in some of the crazy, survivalist scams advertised on conservative talk radio. (Sadly, The Washington Examiner seems to have missed the humor).
And the first scam on his agenda? Plowing all your money into gold, of course. Here's his biblically inflected explanation of why toting around a suitcase of gold come the end times—and at today's prices, a $1 million in gold coins would fit in a suitcase—would be a suboptimal strategy:
If there really is a collapse of the money supply it is difficult to believe that your briefcase of pretty coins will still have any purchasing power near $1 million. In the 1970s, Christian singer Larry Norman made popular the Apocalyptic song lyric, “A piece of bread could buy a bag of gold” based on Revelation 6:6. In The End, I’d rather not have bought as much gold as possible.
(Excerpt) Read more at theatlantic.com ...
I get a test run when a hurricane comes through and takes out power. Those times cause me to change this and change that and buy more “x”. Johnny says make relish out of sweet pickles and I noted I do have those in the fridge and in the pantry but in this case, those pickles wouldn't taste as swell as bottled. Actually, I do have bread and butter “stackers” which are thinly sliced sweets and they would be more like bottled relish if I used them. Okay, those are Plan B.
On basic needs, I have three ways to do everything and with some things, more ways. I have seven ways to cook and would never run out of one particular way.
/johnny
Is this gonna turn into a ZOT thread??
Even during a collapse things will be bartered. The means of currency may be work, sex, and yes gold and other precious things. There is always an economy, even in the darkest scenarios, there will be trade.
/johnny
I think prepping is good. It is just the thread's premise is a little out there. Yes, silver has smaller denominations so it would be easier. But let's say I wanted to buy a large quantity of your tobacco. You and I would agree on a price, say 500 pounds of rice or 6 ounces of gold? You would make the call. Lets say I live 50 miles from you, carry 6 oz of gold is a heck of a lot easier than carry 500 pounds of rice. There will be barter.
Giving an opinion is one thing, but being nasty to Kart and Johnny and me and others, is asking for “suicide by prepper”. Someone who can’t be civil on a thread is likely not to be civil when an emergency strikes.
That's a hell of a premium on 'easy to carry'.
Moot point anyway, since I've said I wouldn't do business with you, ever. Smoke your gold. I'll have other customers.
/johnny
Nobody said prepping is not a good thing. But if you leave precious metals and jewels off your list then you are doing yourself a disservice.
The ATM suggestion is great. I forgot about that. Thanks.
Gold’s value will not be in terms of dollars. Dollars are useless. Gold’s value will have to seek it’s own level. You may be right and it might take a lot of gold to convince you to sell tobacco, or maybe you wont sell at all. But if you specialize in tobacco you will have to take SOMETHING in exchange. How will you judge the value of anything? How much is a can of tobacco worth in beans? In wheat? in gold?
The ratio of value for rice/gold remains, but may vary over time.
I have a spreadsheet detailing the value of commodities, based on many factors, and grounded in reality of historic ratios. Not some made-up, off-the-cuff crap by an armchair warrior.
/johnny
Those ‘64 quarters and dimes are great for “collapse barter”,
mostly because they are a very well known value.
I started prepping in 1998 and have everything I need - “need” is the operative word. The definition of “need” varies from prepper to prepper.
Don't presume you know what anyone on this thread has stored - we have talked about gold and silver numerous times and each has stored for their own needs in regard to gold/silver and we aren't telling you what we have in regard to anything. However, I do need sweet pickle relish.
Super great you have gold/silver, and what was that address again?
Order some from Walmart.com? You can probably buy a whole case.
Do you by any chance have some pickles, or even pickled green beans? Even canned green beans could be minced and combined with the appropriate seasonings to make a sweet pickled bean relish to use as a substitue.
Stay safe, and stay indoors.
Gold or silver would be a way to protect against run away inflation, so that you can pay your real estate taxes etc.
I do think that food, ammo, etc are better for “investment” purposes right now, as well as helping you to survive the lean times that may happen.
After my frantic look for pickle relish and finally coming up with a small bottle, I've come up with Plan B. When relish is gone, will cut up bread and butter sweet “Stackers”, as they are thinly sliced and very sweet to make sweet pickle relish. The liquid they are in is really sweet so a bit of that in with the stackers cut up, will make a passable relish.
Or, if you don't have H1N1, you could drive from Missouri to here and hand me a bottle of relish at my front door - or not.
What really got me was looking at the stacks of canned chicken and tuna and no bottles of relish. And, all of you on the gardening thread can sweet pickles all the time. I have to think about how to make cucumbers grow without insects getting them. I'll mention this on today's gardening thread when it opens and maybe you already have it open.
Depends on how long your list is.
For most people the list consists of the basics of daily life, food, water, shelter, assets of immediate value in the interaction and trade between neighbors who are in the same boat, most of us can't afford the luxury of also amassing the assets needed to rebuild or maintain wealth after a recovery starts, assets that we can't afford right now anyway.
During an emergency I would rather have trade goods that the impulsive and wheeler dealer types would want, canned Spam and pints of Southern Comfort, or a box of 22 shells would be better than gold for most of us. Once things were over, then the rich would pull out their gold and regain their place, but only if they survived, and during many stages of an emergency of mass starvation, pieces of gold would not have widespread appeal, and might not buy what one needs to survive.
If I'm spending $100,000.00 on preparedness, then I will add some gold, but if I'm spending $2,000.00 on it, then gold won't be on the list.
Hmmm...I'll have to look into that. Since it is meant to store alcohol and not water, I would think the material would be intrinsically different than a 16.9 oz. water bottle. But I have no specific information to that effect.
A new weekend project!
I don’t think most people who own gold and think about shtf t expect to use Golden Eagles for food! That’s what those junk silver dimes or quarters might be good for, for anyone who understands value of silver. Value of a junk silver dime is worth about a loaf of bread in today’s market, value of a couple Morgans will fill a gas tank
not that anyone needs to barter silver for goods while the merry go round of plastic credit and paper money is still spinning
Golden Eagles could be bartered for safe long term shelter or enough land to grow food - heck yeah someone will see their value and portability, take those Eagles and go get something they want, somewhere they want it, maybe a seagoing livable sailboat to take you where your skills and talents will be welcomed. “Home” is gonna have a whole new meaning for a lot of folks
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