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THE Silver & Gold Thread (merged)

Discussions about the economic and financial ramifications of PEAK OIL

Re: What to do with all this gold and silver?

Unread postby Tanada » Mon 21 Nov 2016, 10:29:54

vtsnowedin wrote:
Tanada wrote:
Revi wrote:I think you will be able to sell or barter your silver and gold for things you will need. Hang on to it until you need it. It's better than money in the bank, especially if you paid an average of around $20 per ounce for the silver. Some day you may need it to buy necessities. Don't tell anyone you have it. It's real money. If the price of silver goes up you will have quite a nest egg. There are plenty of people who left uncertain places with small gold coins sewn into their clothes. It gave them a chance to get on their feet when they got to a safer place.


There was an old story that went around the history department at University. It seems that the Jewish folks who managed to buy their way to safety during World War II spent on average three ounces of gold to do so, mostly in the form of small pieces of jewelry that were easily concealed. Unfortunately this tells us nothing about the many thousands of others who tried to buy their way to freedom and were simply murdered for their gold possessions, it really boiled down to who they were dealing with. Some guards and other authorities preferred to accept the small bits of gold and tell themselves they had a clean conscious when it came to killing, others wanted it all and had no compunctions about murdering to get what they wanted.

Strolling through the old threads this evening Tanada?


Nah, gold bugs on the radio love to bring up the Holocaust example. I am just pointing out it has significant confirmation bias, the people who succeeded told others how they survived. Those who were murdered left no record of how they went about their approach so it may often have been exactly the same type of attempt but up against a different type of target for the bribe.
I should be able to change a diaper, plan an invasion, butcher a hog, design a building, write, balance accounts, build a wall, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, pitch manure, program a computer, cook, fight efficiently, die gallantly. Specialization is for insects.
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Re: THE Silver & Gold Thread (merged)

Unread postby Revi » Sun 27 Nov 2016, 22:22:37

Hard to tell what will happen. Silver is just one strategy to hold value. We'll see what happens. It works well in an inflationary environment. There are a lot of other useful things as well. I like old cast iron pans also. They are the new precious metal. If all else fails you can always fry up a squirrel in your cast iron frypan!
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Re: THE Silver & Gold Thread (merged)

Unread postby pstarr » Sun 27 Nov 2016, 22:58:51

I purchased used All-Clad cookware on Ebay to put away for barter. Stainless steel surrounds a core of aluminum. Very high tech, will never be manufactured again. It's ageless can't wear out. Performs better than anything I have owned, the aluminum core moves the heat quickly and evenly so things don't stick. I have a set for myself that I use daily.

I think gold rather than silver might be the way to go after all. If you can afford it. Also doesn't tarnish.
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The Fragile Gold Industry.

Unread postby AdamB » Sun 29 Oct 2017, 08:10:57

This article is reposted from Steve Rocco's website with the kind permission of the author. It illustrates a typical theme of the "Cassandra's Legacy" blog, the fact that all human enterprises are dynamic; they evolve, change, and adapt to the challenges generated by the environment. In particular, the mining industry follows a typical dynamic cycle of exploitation generated by the gradually declining profits that come from mining less and less concentrated ores. It is true for crude oil and it is true for gold as well. The latter is perhaps the mineral mined today at the lowest possible concentrations. For gold, concentration (or ore grade, if you prefer) is the crucial parameter that determines the cost of production. As a consequence, the gold mining industry is especially fragile and vulnerable to depletion coupled to market oscillation. The current situation is explained


The Fragile Gold Industry
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Re: THE Silver & Gold Thread (merged)

Unread postby Revi » Mon 06 Nov 2017, 20:44:27

It's crazy that silver hasn't gone up for years, while bitcoin is racing to the moon! We'll see what happens, but it seems like tangible assets are worth less and less while stocks and bitcoin go through the roof.
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