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  1. #21
    Member Isk Stark's Avatar
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    Quote Originally Posted by Survive & Stay Free View Post
    Its strange the amount of people I have met who invested in precious metals believing that and then actively started looking forward to a collapse happening and then doing one thing or another which they thought would bring it about.

    I think its nonsense, what you would want during a collapse, which would not be a good thing and have unpredictable consequences to say the least, is to be some sort of prepper who had either tangible assets, ie cars, supplies, fuel.
    PMs are merely a hedge against inflation, not an investment. Your friends do sound like they are invested in a collapse. I don't want chaos. I prefer order as it affords me more time to hedge.

    Like I said, I don't think (hope we're not) headed towards a full Mad Max future. It'll be more like the Wild West.

  2. #22
    Member Isk Stark's Avatar
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    Quote Originally Posted by highlander View Post
    Can you say Dutch tulip bulb craze?
    Debt/fiat is the modern tulip bulb.

  3. #23
    Member Isk Stark's Avatar
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    U.S. National Debt Clock : Real Time

    You can chase/save paper all you want, but at the end of the paper paradigm that's all you would be holding: Paper



    Currency needs to go back to being what it originally was: A receipt for real money

    Currently, paper is a receipt for other peoples debt stacked on top of each other.

    It's turtles all the way down.

    -Winter is Coming

    Once more into the fray
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    Live and die on this day...
    Live and die on this day...

  4. #24
    :)))))))))))))) No agentwashington's Avatar
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    Quote Originally Posted by Isk Stark View Post
    via Imgflip Meme Generator

    Key word being "Value"

    In a dollar collapse, I think people will still grasp to some semblance of order. A storage of value and fungibility at the very least will be needed. The reason metals were used in the first place was because of the enormous amount of value stored in a relatively small space.

    Imagine trading $1,300 worth of milk. Will you take the War Rig across the desert? Lots of man hours being spent there as well.

    And that's just one ounce of gold.
    Gold is mostly there to keep value in times of peace and stability and inflation, I believe.

    Hyperinflation = barter economy. (No idea how gold will factor into this. I assume people will have other priorities other than gold - and there's a good chance you won't want to trade it back for the dollar, you'll be trading it into other things.)
    Societal collapse = lots of stories about heirloom watches, precious metals, gems etc. being traded for one (1) potato after WWII.
    “[Capitalism] as it exists today is, in my opinion, the real source of evils. I am convinced there is only one way to eliminate these grave evils, namely through the establishment of a socialist economy, accompanied by an educational system which would be oriented toward social goals.”
    ― Albert Einstein, Why Socialism?

    “The evils of capitalism are as real as the evils of militarism and evils of racism.”
    ― Martin Luther King Jr.

  5. #25

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    Quote Originally Posted by Isk Stark View Post
    Debt/fiat is the modern tulip bulb.
    What if I told you gold was the tulip?

    (surely I dont have to break out the memes for the hard of understanding)
    It is a luxury to be understood - Ralph Waldo Emerson

    Those who can make you believe absurdities, can make you commit atrocities - Voltaire

    A kind thought is the hope of the world - Anon

  6. #26

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    Quote Originally Posted by Isk Stark View Post
    U.S. National Debt Clock : Real Time

    You can chase/save paper all you want, but at the end of the paper paradigm that's all you would be holding: Paper



    Currency needs to go back to being what it originally was: A receipt for real money

    Currently, paper is a receipt for other peoples debt stacked on top of each other.

    It's turtles all the way down.

    It wasnt working, that's why fiat currency was introduced and guess what? Its worked, it'll keep working.
    It is a luxury to be understood - Ralph Waldo Emerson

    Those who can make you believe absurdities, can make you commit atrocities - Voltaire

    A kind thought is the hope of the world - Anon

  7. #27

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    Quote Originally Posted by agentwashington View Post
    Gold is mostly there to keep value in times of peace and stability and inflation, I believe.

    Hyperinflation = barter economy. (No idea how gold will factor into this. I assume people will have other priorities other than gold - and there's a good chance you won't want to trade it back for the dollar, you'll be trading it into other things.)
    Societal collapse = lots of stories about heirloom watches, precious metals, gems etc. being traded for one (1) potato after WWII.
    The thing about the story of the last hyper inflation that I remember, probably because the people ramping gold love it so much, is about a german going to buy bread with a wheel barrow full of currency, the baker dumped the currency out of it and decided to take the wheel barrow as payment for the bread as it had more value, at least to him.

    The strange thing is that while this story is repeatedly told by gold rampers to discredit currency it does not actually feature any gold, it does feature another tangible asset, the wheel barrow, which I think may make the case for purchases of other things, much like the preppers home spun philosophy of a basement to rival that of a supermarket store room.

    Though I think its foolish to talk up crisis scenarios like this, whatever the gold bugs in the trailer park are squirrelling away and whatever the 1% would be willing to sacrifice during the sort of incredible crisis which would see the abandonment of fiat currencies I'm willing to bet there'd be more than enough institutions, companies, corporations and wealthy individuals interested in maintaining fiat currency.

    No matter how convincing those youtube videos were or those paleoconservative guides to economics were its not going to happen and sooner or later you have to reflect on the tale of the emperors new clothes or 101 other tales of hucksters and snakeoil sales men and consider whether the punt you took on precious metals wasnt just the equivalent of stuff your money in the mattress after all.
    It is a luxury to be understood - Ralph Waldo Emerson

    Those who can make you believe absurdities, can make you commit atrocities - Voltaire

    A kind thought is the hope of the world - Anon

  8. #28
    Member Isk Stark's Avatar
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    Quote Originally Posted by Survive & Stay Free View Post
    It wasnt working, that's why fiat currency was introduced and guess what? Its worked, it'll keep working.
    Keep your faith, I suppose.

    We have our disagreements regarding PMs, but my preference is for a wide spread. It's not like I bet my house on silver/gold.

    Anyways, I'm more interested to talk about cryptos. Just signed up to coinbase. Need to budget for cryptos on top of my monthly PM weight.

    I want to minimize my exposure to fiat.
    -Winter is Coming

    Once more into the fray
    Into the last good fight I'll ever know
    Live and die on this day...
    Live and die on this day...

  9. #29

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    Quote Originally Posted by Isk Stark View Post
    Keep your faith, I suppose.

    We have our disagreements regarding PMs, but my preference is for a wide spread. It's not like I bet my house on silver/gold.

    Anyways, I'm more interested to talk about cryptos. Just signed up to coinbase. Need to budget for cryptos on top of my monthly PM weight.

    I want to minimize my exposure to fiat.
    I dont see how you can consider cryptos as a better alternative to fiat, that's definitely got to do with a serious ideological shading but good luck to you.
    It is a luxury to be understood - Ralph Waldo Emerson

    Those who can make you believe absurdities, can make you commit atrocities - Voltaire

    A kind thought is the hope of the world - Anon

  10. #30
    Member Isk Stark's Avatar
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    Quote Originally Posted by Survive & Stay Free View Post
    I dont see how you can consider cryptos as a better alternative to fiat, that's definitely got to do with a serious ideological shading but good luck to you.
    Uh-huh.

    My understanding is that there is a limited amount of coins that need to be "mined." This keeps the value relatively stable, similar to PMs.

    Still in my first forays into the realm of cryptos. I'll report back later.


    -Winter is Coming

    Once more into the fray
    Into the last good fight I'll ever know
    Live and die on this day...
    Live and die on this day...

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