Never try to catch a falling knife...

Lol, you guys realize that if the "end of times" scenario happens and global currencies fail, precious metals will be all but worthless. The barter system will be the only thing worthwhile... and you can't eat precious metals.

 

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Exactly, in that scenario the only things with value will be food, guns, drugs, and alcohol.

 

and gas

 

You mean... you don't think you could buy these guys off with a few silver eagles?

 

Define "end of times" scenario. Is there only one? Or do they come in various flavors? Various magnitudes?

One scenario that I can see PM having no value is if there was no hope at all for the future. We're talking about the Yellowstone Caldera exploding at the same time an asteroid the size of the Titanic hits in Asia. If every survivor in such a scenario believes there is no chance for anyone to survive the coming winter, then PM would likely have little to no value whatsoever.

Another possibility is one where the population is dramatically reduced. As in from 7 billion to 70 or 7 million. In such a situation, each surviving person would have more stuff, probably including precious metals, than they would possibly know what to do with.

A collapse of a government or a currency is not such a scenario. Heck, the Great Depression, WWI, WWII, the Great Recession, and the "War on Terror" weren't bad enough that PM lost their value. If there's hope for the future, or hope that people can move to where there is hope, then PM will still have value.

 

Of course silver has had value for thousands of years of good times and bad.

 

Howdy good people,

Generally, you never want to try and catch a falling knife . . . hurts. However, with any actually upward turn you might be seeing a momentum change - and that's where the action is. The greatest leverage is still with silver mining stocks and in addition, that's where the metrics point (i.e. gold/silver ratio is way high at 73 pointing towards an overweight of silver to gold and the gold/XAU ratio is also huge high at 16.3 pointing towards overweighting the miners relative to bullion.)

I've got a couple of momentum stock plays on in the junior miners - ASM & SVM. I've been scaling in so long as I'm making money but we'll see. I bought some on the 7th, 14th and 19th and the former is +21% and the latter +31%. If it turns, I'll sell and wait for another opportunity.

As for bullion, for us that have been acquiring for years, this is a great buying opportunity for annual purchases and what not. For example, I always put away a tube of ASEs and collect the various present day silver 'crowns' such as pandas, 'tads, leafs, brits, etc.

However, to put this in perspective, my first roll of silver eagles cost me $90 including A&H and my first roll of gold eagles was at a POG of $335. I'm fortunate that this gives me room to be glib about this being a buying opp.

and so it goes,

peace,

rono

 

Don't forget, after an apocolypsie people will still need PM's to give to the talented dolt in the purple robes. Even though they already know they should tar & feather the first guy who expects a share of their production for telling them what to do, how much to do, and how they should live their lives, they won't. Barnum got it right.