Discussion in 'Bullion Investing' started by Galen59, Nov 8, 2017.
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On the other hand, what you're saying is these other countries were able to remain civil in a situation that would destroy the US? Could it be that we're not as special as we'd like to think? Could it be that we're more similar than most Americans are willing to admit?
Also, since you keep going further into the rabbit hole, I never said "government collapse". I referred to a "financial collapse of the USD", as in hyperinflation. As in 1,000% inflation making it so a loaf of bread costs $50. In many of the examples mentioned above, it was just the currency that collapsed, not the government. Order and peace were maintained.
You can keep thinking about the sort of "total collapse" that has never happened in the entire history of all mankind, but I'll keep thinking of the sort of regional collapses that have happened many, many times.
Of course my PM stack isn't going to be worth squat if 99% of the population is destroyed by a plague or nuclear war. But then again, my own PM stack will also be the least of my worries too.
How much would your USD investments (bank account, brokerage account, IRA, etc.) be worth in the event of 30,000% inflation? As in what now costs $3, would cost $900, i.e. a gallon of gas. Or what now costs $50, would cost $15,000, i.e. a decent coat. Or, heaven forbid you need a crappy vehicle, which today runs $1,000, could cost $300,000.
Assuming everything outside the US is OK, and there is confidence that everything will return to normal in the US, you could pay $300,000 for a car, or perhaps an ounce of gold. Maybe two ounces of gold, tops. Because that ounce of gold can be exchanged for Euro, or whatever other currency isn't affected.
These exact things have happened in many other countries, including using PM to buy/barter necessities. Why do people in the US think it can never happen here, or if it did, that it will signify the end of the world and PM would be worthless?
Footnote: Before anyone gets to making assumptions about me, no, I'm not a "prepper". No, I'm not hoping for any such event to happen. No, I don't have all my eggs in one basket, my PM stack isn't even 5% of my overall investments. I essentially have enough PM to make life a little easier on me and my family in the event the value of the USD crashes. No, I don't expect my PM to protect me from anything, including zombies, nuclear missiles, or aliens.
Here's your answer:
[Insert whatever reason floats your boat here]
Not even close. Your list is basically a top 10 of most violent places on earth and some even went for full on genocide.
I stacked because I liked to hoard. Got honest with myself and joined a hoarding 12 step program.
Making up an inflation number that isn't going to happen is like saying how much would your stack be worth if spot dropped to a penny an ounce. The only thing that actually has happened is gold has lost half it's value and silver has lost over half it's value in the last 5 years.
It's possible for inflation to happen or have another 2008, but it won't be to the extent of inflation being measured in the thousands.
No you couldn't. The USA is the biggest consumer of basically everything on the planet. Many many other countries economies would collapse/take a massive hit without their export money to the US.
There is no scenario of the rest of the world just going oh look the US dollar is worthless glad we're fine.
I'm quite certain people in the USSR were telling themselves the same thing in 1980. How much of a global hiccup did their collapse cause in 1990? (Hint - In case you weren't paying attention - Their collapse was a tremendous boon for the global economy.)
And I didn't make up that inflation number. That was the rate experienced by Germany after WWI. You know, the Germany that was pretty much on top of the world before the war? I'm pretty sure none of them thought 30,000% inflation was a possibility.
See, now you're flip flopping. What I meant by "civil" is that people were able to barter precious metals for goods and services. The very activity that you assume will be impossible if the USD ever fails.
You didn't finish my post which ended with-
PMs would only be useful if hyperinflation occurred or people stopped taking our piece of paper currency.
They mean "to accumulate" not physically stack one on top of the other unless you have so much that you have to do that to have them fit in your safe. If they are slabbed stacking does no harm if raw it could hurt them.
Communist country. Hardly the individual consumer market that has existed in the USA
A world war destroying over half your country and literally having your government defeated and dismantled is not a comparable. That's a comparable to another country invading and taking over the US after destroying most of it.
Are you serious?
He knows what stacking means.
But the number two country at the time nonetheless.
...and you're ignoring the flip side of the coin. Even in such an extreme event, precious metals still had value. So why wouldn't they still have value in a simple economic collapse, as they have in every, single, economic collapse in history?
It's almost as though you're arguing with yourself. Either an event is so severe that PM would become worthless, or it isn't. Can you make up your mind already?
(...) This country is probably at or near the weakest its been in its history.
So joke about total collapse of either the country or the monetary system, but I worry, not about me but about my grandchildren's future. I worry that it's okay to blame old white men for all this countries troubles. I worry that things are really going to get out of hand.
I didn't finish it because with the word "only", it's seems as though you think of it as the exception, as though a total collapse were more likely. My apologies if you intended it the other way around.
In a system that always collapses without opening the market and not really when it came to world wide consumer trade/consumption.
Sure I guess the gangs will just let people calmly barter, terrorists wouldn't attack left and right, no one will be panicking for food or water with the supply gone ect. We can't even have speakers on college campuses without a riot happening but somehow we are supposed to be peacefully bartering with metals?
There is no comparable for what you have metals to "protect" against. It's a much different much more hateful world today than it was 30 years ago or even 15 years ago. If the dollar completely collapsed the Walking Dead would look like a more peaceful society
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