Any silver stackers on the board?

[packs]

But your example is made on the assumption that the person selling goods has access to enough goods for an indeterminable amount of time that they can afford to sell food and still have more food to eat after the sale. It also assumes the vendor has access to outside markets, which the people of Venezuela do not.

[vintagetoppsguy]

Originally Posted by packs

But your example is made on the assumption that the person selling goods has access to enough goods for an indeterminable amount of time that they can afford to sell food and still have more food to eat after the sale.

I know you're from the city, but do you know what a farm is? Seriously?

[packs]

Originally Posted by vintagetoppsguy

I know you're from the city, but do you know what a farm is? Seriously?

I do, actually. That's kind of the point, your farm and your goods would become much more valuable than any piece of metal. Farms, as great as they are, also can't produce all of their goods instantaneously.

Here's a scenario that is more true to life than what I've seen put forward: I'm a merchant who sells food in a populated city in Venezuela. I sell all my food for as much gold as I can get. Now I'm hungry. Where do I go to exchange my gold for food? My customers? Other vendors like me? Won't they want to hold on to something for themselves?

[vintagetoppsguy]

Originally Posted by packs

Here's a scenario that is more true to life than what I've seen put forward: I'm a merchant who sells food in a populated city in Venezuela. I sell all my food for as much gold as I can get. Now I'm hungry. Where do I go to exchange my gold for food? My customers? Other vendors like me? Won't they want to hold on to something for themselves?

You answered your own question.

[58pinson]

I don't see any assumptions in my post except that basic human affairs and interactions will continue if they can. You seem to believe that paper (1988 Topps cards) are preferable to conduct those transactions. In normal times I have zero arguments with that position. In troubled times things can sometimes become much more stressful. What the theoretical vendor in any country would have in such times if they accepted gold/silver instead of paper in something of much more value than paper currency that has lost the confidence of the populace. You are also transposing the merchant and the farmer in your illustration.

Throughout history, and this is especially true in Asia, precious metals have been revered as stores of value not subject to the capricious wiles of corrupt and despotic central governments. If they don't interest you I fully understand. You have 99% of the US population right in your corner. I just see things a little differently. You know you had asked if there was any backup for the Germany city blocks changing hands for a few gold coins. These type of events were reported fairly commonly during the height of the Weimar hyper-inflation of the 1920's. I might mention that there are a fair number of holocaust survivors who owe their lives to being able to bribe officials with gold or diamonds and such to get out.

Anyway, off to watch Sweden/Netherlands in footy. Cheers!

[vintagetoppsguy]

Here's the bottom line. Stackers are either right or they're wrong. I don't think there is any in between.

So if we're wrong, the majority can laugh at us and say, "I told you so" and I'll admit that I was wrong. In the end though, I'll still have my metals and I can exchange them for fiat currency. In other words, I didn't lose anything. There were no consequences.

But if the non-stackers (I don't know of another word to use ) are wrong, you're up a $hit creek without a paddle if the SHTF. Here, there are potential consequences.

That said, that is not the reason I stack. People stack for various reasons. I stack because I like the long term potential for silver. It's got a number of industrial uses. I can't verify this (and I'm too lazy to look it up), but I heard they passed a new law in California that starting in 2020 all new homes have to be solar powered. There is silver in solar cell panels. That's just one of the industrial uses, I won't get into all the others. But that's the reason I stack - for investment (and don't get me wrong, I still have my 401k and some other investments too). But, at the same time, I have to look what is going on with the government and the insurmountable debt and realize that a SHTF type of event could be a reality.

Oh, and the answer to the question, "What was Manhattan purchased for?" is beads. Manhattan was purchased for some beads.

[packs]

Not that it matters but Manhattan wasn't purchased for beads or precious metals, it was traded for goods. It was also traded by a tribe of Native Americans who didn't actually own the land they traded.

Sometimes context is important.

[vintagetoppsguy]

Originally Posted by packs

Not that it matters but Manhattan wasn't purchased for beads or precious metals, it was traded for goods. It was also traded by a tribe of Native Americans who didn't actually own the land they traded.

Sometimes context is important.

What goods?

[Mark17]

Having some gold, silver, rhodium stacked away is a prudent diversification that helps people feel less stress when economies and fiat currencies become volatile. When everything else goes to hell (real estate, stocks, baseball cards, etc.) metals usually go up. It gives comfort to know that part of your accumulated wealth is helping, to some extent, balance the losses you are experiencing elsewhere.

My preference is gold and silver Canadian Maple Leaf 1 oz. coins. The silver coins have a $5.00 face value but considering mining and manufacturing costs, they should never get that low. Still, at least there is a floor (in case somebody snags a 1000 ton asteroid made of solid silver someday.)

As far as doomsday scenarios, I think the point is that some type of money is essential when bartering goods and services, and if the fiat (paper) money becomes undependable, the fallback is precious metals. Whether that scenario will come into play in our lifetimes who knows, but it's nice to feel at least a little bit protected.