How do all the old timers feel about "silver stackers?"

If you have a total world collapse of all monetary systems, a can of beans will be more valuable to those starving than silver or gold. Banks will still close but in desperation, anything that will comfort will have the biggest demand. I don't believe I can eat silver or gold or fix the world crisis with it. Without law and order, medicine and food, we have little chance of surviving any kind of catastrophic scenario.

 

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how about all the people who tried to bribe people and simply got their gold stolen?

 

Careful, you're misleading people about the Federal Reserve. Yes, it lives in a hybrid public/private status, but each and every employee at the Federal Reserve HQ IS a federal government employee (regional and branch staff are not) and the Federal Reserve is indeed a federal agency. Who says so? Every official source. Who says not? "Woo woo" nutcases.

 

How about those Jewish people who did make it out having gold to use for bribery, how about those shot down pilot who used their gold coins to get to safety, how about during our own 30's depression, when the banks closed and people had silver coins to buy food. I never said it worked 100%, but it did work.

I'm not talking about a world apocalypse, then bullets, water, and food would be the currency of choice. I don't see that happening in my lifetime. Now rising inflation is a possibility, remember Roosevelt called in all gold in 1933 because our currency was backed by it and he needed it to print more. Today, our currency is backed by... nothing. Even the agency that regulates our currency, the Federal Reserve System, isn't really a government agency. Don't think massive inflation can happen?:

 

The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors or Federal Reserve Board (FRB), partially presidentially appointed Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous privately owned U.S. member banks, and various advisory councils.[14][15][16] The federal government sets the salaries of the board's seven governors. Nationally chartered commercial banks are required to hold stock in the Federal Reserve Bank of their region, which entitles them to elect some of their board members. The FOMC sets monetary policy and consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any given time: the president of the New York Fed and four others who rotate through one-year terms. Thus, the Federal Reserve System has both private and public components to serve the interests of the public and private banks.[list 2] The structure is considered unique among central banks. It is also unusual in that the United States Department of the Treasury, an entity outside of the central bank, prints the currency used.[21] The Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms

 

True, but neither you, I, Elon Musk nor anyone else on this board irrelevant if they freeze their brain for future use, will be around when the sun supernovas. Or if we use nuclear to supernova ourselves.

And I don't know how successful people have been taking their PM's with them when their bodies stop functioning.

 

So people like the Mont go around with 30 coins keister stashed in case they end up like Jews on a rail car. The rest of us live in the real world

 

Once again, a tread turns to rudeness and name calling. Just once I'd like to see a topic discussed where all people's viewpoints are respected and not mocked. If you go up back a little and read what I posted:

I guess you just wanted to jump in, without checking what was said previously, and be "heard."

 

I'll just stand next to you.

 

"Keep in mind the only Government agency that makes money and turns it in to the Treasury is the U.S. Mint."

This is factually incorrect. The IRS is the most obvious example. Other agencies that sell or lease the rights to natural resource extraction also are net positives to the Treasury. There may be other examples.

 

I'm 6'4". There's a reasonable chance you can hide behind me if the time should come.

 

Sorry, @TheMont, I don't subscribe to Wikipedia's page when there are primary sources.

From the Fed's own website, as has been linked above:
The Federal Reserve System is not "owned" by anyone. Although parts of the Federal Reserve System share some characteristics with private-sector entities, the Federal Reserve was established to serve the public interest.

The Federal Reserve derives its authority from the Congress, which created the System in 1913 with the enactment of the Federal Reserve Act. This central banking "system" has three important features: (1) a central governing board--the Federal Reserve Board of Governors; (2) a decentralized operating structure of 12 Federal Reserve Banks; and (3) a blend of public and private characteristics.

The Board of Governors in Washington, D.C., is an agency of the federal government. The Board--appointed by the President and confirmed by the Senate--provides general guidance for the Federal Reserve System and oversees the 12 Reserve Banks. The Board reports to and is directly accountable to the Congress but, unlike many other public agencies, it is not funded by congressional appropriations. In addition, though the Congress sets the goals for monetary policy, decisions of the Board--and the Fed's monetary policy-setting body, the Federal Open Market Committe--about how to reach those goals do not require approval by the President or anyone else in the executive or legislative branches of government.

Some observers mistakenly consider the Federal Reserve to be a private entity because the Reserve Banks are organized similarly to private corporations. For instance, each of the 12 Reserve Banks operates within its own particular geographic area, or District, of the United States, and each is separately incorporated and has its own board of directors. Commercial banks that are members of the Federal Reserve System hold stock in their District's Reserve Bank. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. In fact, the Reserve Banks are required by law to transfer net earnings to the U.S. Treasury, after providing for all necessary expenses of the Reserve Banks, legally required dividend payments, and maintaining a limited balance in a surplus fund.

 

Yeah, I should have guessed that.

 

Stop it! Now you're just lying! Fair warning: I don't feel an obligation to NOT mock liars. Before there can be a meaningful dialogue, basic facts must be accepted. I am aware that this "the Fed isn't even a federal agency" meme is out there, and I am aware many coin people believe it. It. Is. A. Lie.

 

Typical Bellman, take my posts out of order, I stated the Fed wasn't a government agency then gave the Wikipedia Quote. You first said you did not accept the Wikipedia post, then gave the impression that I said the Fed wasn't a Fed Agency after you quoted the Fed's website. Shame on you.

I suggest you read your own quote that gave from the Fed's website. There are several section's that refute your assertion, especially:

That quote doesn't sound like Federal Agency to me. A Federal Agency is governed by Congress.

 

Umm, yah, not really. The federal government is loaded with politically independent agencies (at least until some new ideology comes along to violate that norm). Even my state's government (on which the federal system was largely modeled) has agencies OUTSIDE the usual legis/exec/judis paradigm.

 

Name one Federal Agency that is not under Federal supervision.

 

I'll do better.

FTC
FCC
SEC
NLRB
NASA
Social Security Admin
FEC
Consumer Product Safety Commission

And many others.

GSA
Selective Service

Want more?

 

the kooks,paranoids and bullies melt when they're exposed to sunlight.

 

All the agencies I named above share the key attribute of the Fed. Political insulation from the normal three branches except by oversight of appointments.