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#1
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This was an interesting thread that died. I didn't really see any input by preppers, kind of shocking. Nor did there seem to be any historical explanations.
To make sense of a preppers' response, one must understand the historical understanding of currency. Over thousands of years humans have moved away from a barter based economy to a currency economy. Humans once used shells as a means of currency. Eventually, moving into minted coins - think of the Romans 2000 years ago. Although silver might seem like a worthless metal, it has defined human currency models for hundreds of years. Before the US Dollar, silver was the global currency. World exploration after Columbus was defined by silver when the most powerful global economies were based on the idea of mercantilism. England decimated the Qing dynasty (China) by robbing their coffers of silver, in exchange for opium. tsk tsk tsk. During the slave trade in the Atlantic, European economies realized they would bankrupt themselves if they purchased slaves with silver, so they turned to trading weapons and rum, among other trade goods. They took the slaves to the Americas where they were exchanged for silver, and the silver returned to Europe. Only in more modern times have individuals believed that paper currency can be backed by a country's GDP. It's an interesting concept that preppers think is based on sleight of hand. Preppers therefore believe that if the global economy fails, or even the US economy, currency will revert to the previous system of trading in metals and trade goods. Why? Because historically, for thousands of years, people have believed that metals hold value. And gems. And things that glitter to the eye. One can't necessarily walk around with a Picasso or a Van Gogh, but one can walk around with a shiny coin in their pocket. One prepper book I read suggested a supply of junk metal, bullets, cigarettes, and some other trade goods that might be appealing to others. Obviously as has been quoted earlier, silver takes up a lot of space and is heavy. But it also can be divided much easier than gold. Can you imagine having to chip off flakes of gold? How bothersome! So junk silver, silver eagles, and silver bars would be much more beneficial in that regard.
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Barry Larkin, Joey Votto, Tris Speaker, 1930-45 Cincinnati Reds, T206 Cincinnati Successful deals with: Banksfan14, Brianp-beme, Bumpus Jones, Dacubfan (x5), Dstrawberryfan39, Ed_Hutchinson, Fballguy, fusorcruiser (x2), GoCalBears, Gorditadog, Luke, MikeKam, Moosedog, Nineunder71, Powdered H20, PSU, Ronniehatesjazz, Roarfrom34, Sebie43, Seven, and Wondo Last edited by todeen; 10-04-2019 at 10:31 PM. |
#2
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Anyone make any trades?
Last edited by packs; 04-26-2020 at 02:55 PM. |
#3
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Cool thread, surprised I've never seen it before now. I've "stacked" on and off again since 2008. I'm not a prepper but I am wary of potential inflation and I think it's kind of a fun hobby. Worst investment decision I've ever made though was buying a bunch of palladium at $200/oz and selling it at $450 only to see it cross $2k years down the road.
The cool part about it IMO is the history... getting gold coins for Europe that are hundreds of years old at a slight markup to spot is a fair price and just incredibly cool. The bad part is when it goes beyond this IMO and collectors/investors fall victim to charlatans who are either projecting "Gold to $10,000 by 2025....buy my book" or slinging a "Collectors Edition Chewbaka 2 oz silver round" for only 4X spot... basically lots of people get burnt and have no clue what they're doing. I will be buying some again in the near future but can't justify paying the spreads right now. I'll just play GLD until I get a chance. Last edited by ronniehatesjazz; 05-26-2020 at 12:30 AM. |
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Not me. Silver is very hard to find in my area right now with premiums of $5-8 an ounce (or more) when you can find it. And a lot of the online dealers are sold out or have very little stock. Even then, they're telling customers 5-6 weeks for delivery. If anyone has any for sale, let me know. I prefer junk silver, generic bullion or ASEs - nothing collectible with high premiums.
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#5
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So have the Net54 accounts of many of the participants in it.
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“interesting to some absolute garbage to others.” —- “Error cards and variations are for morons, IMHO.” |
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