Hi-ho SILVER...Away!!!!!

You tell it to them. Like the crowd is always right?

Today is a perfect example of what I mean. Panic in the streets, all manner of risk is being sold. Gold SHOULD rally. Does it? No, it takes a $20 (at the moment) cliff dive as people liquidate anything and everything.
 
Quote from SomeYoungGuy:

I think I see what you're getting at, even if you aren't saying it outright. You're worried about a repeat of Roosevelt's confiscation of gold, and my tiny little stash will be de facto worthless. I still think it's a good investment even if things go sideways. If grocery stores won't / can't take gold, there will be a black market for it. I will be able to trade it for nearly worthless fiat currency to trade for food.

Now if everything collapses so horribly that even gold is worthless, I'm fawked anyways. I'm a terrible farmer, I tried to grow 12 different types of vegetables last season and the only thing that came up was squash. I haven't a clue how to raise farm animals. I never learned how to work wood.

I am pretty good mechanic. But if the world is so upside down that gold is worthless, there won't be oil around to run engines for very long. So that barterable skill is devalued.

I have prepared for the calamities that I can survive, and ignore the ones I can not.
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I've got 80+ acres of farm and hunting land in West Virginia. Come visit me, I'll put you to work as the mechanic that keeps the solar panels and well running. You get to eat :)
 
Quote from Anaconda:

Not talking about the World going mad. I am talking about the fiat currency losing the faith of the people. You mentioned barter system, and I mentioned gold & silver as a common means for barter. You do not need to look further than Zimbabwe or Argentina for proof of this.

Im in NYC and I scan craigslist often to find deals on either coins or collectibles I can flip. It's a fun exercise. Barter is already becoming relevant, as people are asking to trade goods for goods or goods for services, rather than money. Not really sure why or what it means, but just something to think about.
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You cannot compare the US to Argentina and Zimbabwe. I'm sorry, but you can't. I know you'll say you can, but nah.
 
Quote from Ivanovich:

You tell it to them. Like the crowd is always right?

Today is a perfect example of what I mean. Panic in the streets, all manner of risk is being sold. Gold SHOULD rally. Does it? No, it takes a $20 (at the moment) cliff dive as people liquidate anything and everything.
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It's up in Euro's.
 
Quote from Ivanovich:

You cannot compare the US to Argentina and Zimbabwe. I'm sorry, but you can't. I know you'll say you can, but nah.
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It's not a direct comparison, it's just an example of human nature and how it treats gold & silver. Argentina is a better comparison, as it was considered a 1st world nation prior to the currency collapse.

What is so different about USA that the population will never use gold & silver as a form of barter? Do you honestly believe so? Do you honestly think that USA cannot undergo a situation similar to what Argentina went through? There are already parts of USA that seem as if they are stuck in some third world episode.
 
Quote from Ivanovich:

I've got 80+ acres of farm and hunting land in West Virginia. Come visit me, I'll put you to work as the mechanic that keeps the solar panels and well running. You get to eat :)
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I'm in Oregon, so if shit goes sideways I'll start walking east! Watch for the guy dragging a tool chest mumbling "gotta find Ivanovich.. so hungry.." :p
 
Quote from Anaconda:

It's not a direct comparison, it's just an example of human nature and how it treats gold & silver. Argentina is a better comparison, as it was considered a 1st world nation prior to the currency collapse.

What is so different about USA that the population will never use gold & silver as a form of barter? Do you honestly believe so? Do you honestly think that USA cannot undergo a situation similar to what Argentina went through? There are already parts of USA that seem as if they are stuck in some third world episode.
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I guess we're just going to have to agree to disagree. Comparison of the USA to a third world country is hyperbole at best.
 
Quote from Ivanovich:

Yeah, and? I think it's up in Thailand Baht too. So what?
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The Euro is the 2nd most issued currency in the world accounting for about 30% of all foreign reserves.

If you want to disregard it's weakness versus gold as irrelevant be my guest.

By the way, nice sell off in USD gold as well yesterday.

This 0.10% drop is bound to make a few longs nervous here.
 
Quote from Ivanovich:

I guess we're just going to have to agree to disagree. Comparison of the USA to a third world country is hyperbole at best.
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Argentina was considered a first world country prior to its crisis. Maybe you were not aware of this, but this was established and there was significantly journalism during the 1990s about how Argentina has progressed to be on the level of Europe and USA.

Additionally, USA's first world status is questionable at times.
 
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