This seems to beg the question of what it means to be a "productive person". Identical twins, raised with the same aptitudes, habits and values, each invest their capital in separate gold mines. One twin hits a mother lode, yielding tons of metal. The other hits only traces. Which one is more "productive", even though they both do the same things, initially employ the same number of people, and so on? One person gets up before dawn every morning to deliver newspapers, then goes to a grueling full-time job on a factory floor. He earns $50K per year. The guy up the hill from him works from home as a contract database administrator; to keep several large businesses running, he puts in maybe four hours a day of actual work, although he's able to bill for 8-10. He earns $200K per year. Which one is more "productive"? One business owner employs a hundred low-wage workers (including the factory worker above) to make widgets. Another outfits his factory to use robots and automated process controllers; he employs ten low-wage workers and ten high-wage workers (including the DBA above). The automated factory produces more goods, at higher quality, and produces more profit. Which one is more "productive"? One welfare recipient takes care of four kids at home, spending some money on food and housing, some on beer, cigarettes, and cosmetics. Another, an elderly widow, lives by herself, spending some money on food (her house is paid off), some on beer, cigarettes and cosmetics, and adding some to the estate she'll pass on to her descendants. Which one is more "productive"?
That really just reinforces the point though, it's so valuable that someone else is willing to sell it even cheaper and the dollar is failing but the people who control the mines are more than happy to take dollars? We can definitely say they aren't true believers, there are true believers out there for sure but none of them are selling they're all hoarding for what they "know" is coming. Don't get me wrong I have nothing against people selling silver running a business, it's just the dollar is worthless the world is ending this will save your life and be money when there is no government nonsense that goes beyond a business and is the same model the snake oil salesmen of the old west used. Then the average person would be even poorer as prices would skyrocket on almost everything. Everyone wanted a global village and this is the result. As mentioned the days of the USA being a cheap manufacturer are over and the only two ways they are returning is either SkyNet or a global computer crash. We simply cannot compete with the costs elsewhere and have done nothing but make it more expensive to operate domestically so everything left. The good news is this problem is self correcting. A few generations are caught up in the change right now but the newest generations will all be tech focused and the problem will to some extent correct itself over time. So would most people but that is not what would happen. If it was a temporary restriction like Greece, yes most people would manage. If it was a sorry nothing here exists anymore were gone cya later everyone type event or a governmental collapse there isn't a chance that it would end in anyway other than a lord of the flies scenario. Most people honestly don't understand what a true collapse would mean. No power, no water, no food supply, no security, no medicine ect. The honest truth is most of the population isn't surviving a total collapse of society.
This is just the case that is inconceivable to me. That little silver disks, which have not even been currency to anyone under the age of 52, would be of interest to anyone with goods of value - like food or fuel. Odd, that.
Based on research, buying gold and silver can be considered as insurance per a retirement portfolio in case of an economic downturn. To place you nest egg entirely on gold and silver IMO is moronic. A small percentage may be a different story.
Wow...all I can tell you is that I live in the same place you live....AMERICA...and this is what I believe, if you don't don't judge...just keep believing in what you believe. It's that simple. I am not trying to change your mind. But if you believe in the fiat system...well all I got to say if GOOD LUCK!!!! you are going to need it.
As I have clearly stated before...I am NOT trying to convert you...believe what you want...and I will do the same. I guess time is the only thing that will determine who is right? But then this isn't about who is right or wrong is it? LOL.
Correct! There is no "right or wrong". It's just a post about the Same Old Tired SALES PITCH that seems to work and never changes. Might I suggest that if folks REALLY want to understand the Coin "COLLECTING" Business or the PM Bullion Business, invest in some old Coin Magazines! The hype stories NEVER change!
Especially when the "value" of those little silver disks is represented in a "dead currency"! Something to think about when we read the hype regarding the devaluation or collapse of "the US Dollar".
Nah, cheesburgers devalue even faster than the dollar. Think about it, what is the value of a cheesburger fresh off the grill? Now what is the value of that same cheesburger two days later?
Yup, especially in markets where people with high political opinionation and disgust combined with little formal structured education tend to congregate.
I did?!?!? Go back and check it, @SLACKACTION. @19Lyds started it and I don't appear until post #32. I hardly started anything, sir. You are in error. By the way, a use algebra nearly daily. Jus' sayin'. Granted, Excel does some of the repetition for me.
Not that there's anything wrong with what @19Lyds did... I do agree that the whole "hard money" vs. "fiat currency" meme is all bull anyway. Fiat currency is the stuff you salt away to save up for a down payment on a 500C, nothing more. To my way of thinking fiat currency creation is a fundamental duty of all sovereign governments, not something to whine about.
