In order to participate in the GunBroker Member forums, you must be logged in with your GunBroker.com account. Click the sign-in button at the top right of the forums page to get connected.

Time to buy the currency of last resort ?

serfserf Member Posts: 9,217 ✭✭✭✭
in General Discussion
 The hand writing is on the wall. The fiat money is going to get hit very soon. Yes I know you can not eat metal also.
                                    serf
Time to buy the currency of last resort,” Jeffrey Currie, Goldman Sachs’ global head of commodities research, succinctly summed up in a note to clients Monday night.Gold has gained more than 12% in the last two days.

· Share on FacebookShare on Twitter

Comments

  • Mr. PerfectMr. Perfect Member, Moderator Posts: 66,437 ******
    Gold won't be worthless, but it's hardly the most important thing to have in hard times.
    Some will die in hot pursuit
    And fiery auto crashes
    Some will die in hot pursuit
    While sifting through my ashes
    Some will fall in love with life
    And drink it from a fountain
    That is pouring like an avalanche
    Coming down the mountain
    · Share on FacebookShare on Twitter
  • Ricci.WrightRicci.Wright Member Posts: 5,127 ✭✭✭✭
    Just can't see where having gold laying around would be a good fit for me so the only gold I own is my watch. I keep some currency and if the world ends where currency is worthless there are things I would prefer over gold. Just my opinion.
    · Share on FacebookShare on Twitter
  • brier-49brier-49 Member Posts: 7,103 ✭✭✭✭
    I thought toilet paper was the in thing now?
    · Share on FacebookShare on Twitter
  • Ricci.WrightRicci.Wright Member Posts: 5,127 ✭✭✭✭
    I did have some dude come into the shop and want to but a case of Mosin Nagant rifles. He was going to leave the twenty rifles in the green wooden shipping case and put a sheet of glass over them for a coffee table. He wanted to pay with a gold coin.
    · Share on FacebookShare on Twitter
  • SCOUT5SCOUT5 Member Posts: 16,181 ✭✭✭✭
    You can't eat gold, silver or other precious metals.   If the monetary system collapses  it wouldn't be worth anything either, right then.  However, if the monetary system collapsed, unlike money, gold would have value later on.   When what ever system replaced the current one gold could then be traded.   If the current system regained stabilization gold could also be traded.   Gold and other precious metals are a way to retain wealth, wealth that could be lost if the economy and monetary system collapsed.  If an oppressive system emerges that doesn't allow you to trade your gold, what would you have lost?   You would have lost nothing, as the money in your mattress wouldn't be worth anything anyway.

    If you had to choose between storing food or storing gold then food of course.   But most of use have more wealth than be can realistically invest in food stores.    
    · Share on FacebookShare on Twitter
  • serfserf Member Posts: 9,217 ✭✭✭✭
     You k
    brier-49 said:
    I thought toilet paper was the in thing now?
       You can use your paper money instead,it will be good for that and you could even recycle it for at least that paper is tear resistant. >:)  The Federal Reserve's  QE 5 is to infinity and beyond. You can never run out of this stuff. ;) It's call Debt and more Debt as they paid off with more monopoly money to retire the debt with more debt.
                                  serf

    · Share on FacebookShare on Twitter
  • mogley98mogley98 Member Posts: 18,291 ✭✭✭✭
    edited March 2020
    Looks like the currency of last resort is guns and ammo LOL, I drove by my buddies shop and they are ten deep out the door.
    Well once we pay off all the student loans, give everybody 100K, give all businesses 1 million per employee, provide free healthcare for life, free college, free food and housing, retirement income for all Etc. we should only owe a few hundred thousand trillion
    Why don't we go to school and work on the weekends and take the week off!
    · Share on FacebookShare on Twitter
  • spasmcreeksrunspasmcreeksrun Member Posts: 1,755 ✭✭✭
    how about prepaid funerals for comfort
    · Share on FacebookShare on Twitter
  • spasmcreeksrunspasmcreeksrun Member Posts: 1,755 ✭✭✭
    single bachelor friend owns a profitable business and has a basement full of gold and silver.....and he could die like any poor person.......and if he tried to take it in the coffin our lowlife undertaker would clean it out and leave and IOU
    · Share on FacebookShare on Twitter
  • chmechme Member Posts: 1,471 ✭✭✭✭
    Ricci- the glass coffee table would be cool- but you need a small label on it:
    See the source image
    · Share on FacebookShare on Twitter
  • WearyTravelerWearyTraveler Member Posts: 2,019 ✭✭✭

    I keep a couple ounces of gold. But buying a loaf of bread with gold is hard to make change. That’s why the majority of my commodities is silver in various weights. I’d rather get no “change” back from a silver round than none from a gold coin...

    the only thing that weighs more than my silver stash is my lead stash.

    ”People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf."
    - GEORGE ORWELL -
    · Share on FacebookShare on Twitter
  • BrookwoodBrookwood Member, Moderator Posts: 13,768 ******
    I worked for a guy way back in the 70's that spent all of his non essential income on gold.  Bragged to me many times how he had it so well hidden in plain sight that even the smartest burglar would never find it.  I finally got so tired of hearing his arrogant brags, I told him the first place I would look would be in his toilet tanks.   

    The guys face turned from RED to PURPLE!! :o
    · Share on FacebookShare on Twitter
  • WarbirdsWarbirds Member Posts: 16,938 ✭✭✭✭

    I thought the currency of last resort was ammunition.

    · Share on FacebookShare on Twitter
  • hobo9650hobo9650 Member Posts: 2,759 ✭✭✭
    I have about a ton of once fired brass in various calibers.  Already separated by caliber in 5 gallon buckets.  Will make fine trading material.  I have some that I have heard of.  What is a 458?  35 wehlen?

    200 lbs of lead (wheel weights) for boolits.

    Also enough ammo on hand to be considered "a good neighbor".   Don't need all the guns I have, so will be down sizing over the next year.
    · Share on FacebookShare on Twitter
  • gruntled2gruntled2 Member Posts: 560 ✭✭✭
    I've wanted to buy maybe 100 ozs of silver but even though the price is supposed to be down you can't buy any at the so called price. Try anything on line & the prices are almost double.
    · Share on FacebookShare on Twitter
  • serfserf Member Posts: 9,217 ✭✭✭✭
    edited March 2020
      Real money is for bartering and US dollars is/has lost it's luster Since LBJ had congress take out its intrinsic value to pay for
      The Vietnam War. Nobody wants Federal reserve dollars unless it's double the price which is your first sign of a 50% haircut
        for our domestic dollar.
         Now a SDR cryptocurrency unit made be next game in the world for money with international trading! Get in on the first floor and go to the top floor and this is the same old shell game but faster.. A trading unit that is the NWO reserve currency.
                                                            serf

                                     https://www.investopedia.com/news/imf-chief-suggests-imfcoin-cryptocurrency-possibility/
                                                                
     According to an article in The Wall Street Journal, an IMFCoin would also help prevent volatility in the currency market that occurs due to trade imbalances. An expert on the IMF's External Advisory Group is quoted in the article as saying that a digital currency could "speed" economic growth. This is because it would prevent countries from hoarding physical currency to maintain reserves. Typically, such hoarding leads to contractions in the global economy. Instead, the IMF could digitally increase (or decrease) the number of IMF Coins in circulation based on economic conditions.
     
               For her part, Lagarde has said that the agency needs a "geopolitical situation that is propitious" to make the IMFCoin a reserve currency,




    · Share on FacebookShare on Twitter
  • wpagewpage Member Posts: 10,201 ✭✭✭
    Silver coins and ammo. Keep your powder dry and keep a good supply of oats.
    · Share on FacebookShare on Twitter
  • victorj19victorj19 Member Posts: 3,642 ✭✭✭
    hobo9650 said:
    I have about a ton of once fired brass in various calibers.  Already separated by caliber in 5 gallon buckets.  Will make fine trading material.  I have some that I have heard of.  What is a 458?  35 wehlen?

    200 lbs of lead (wheel weights) for boolits.

    Also enough ammo on hand to be considered "a good neighbor".   Don't need all the guns I have, so will be down sizing over the next year.
     
    Would think high quality reloaded or factory ammo would be more readably tradeable?   Handgun over rifle (unless 22LR)?

    If you reload, suggest adding some of the more popular/universal powders, bullets and primers for the more popular hand handgun calibers (9mm, 38, 40 s&w, 45ACP) and be sure you have enough powder, primers, brass for the rifles you be keeping.  




    · Share on FacebookShare on Twitter
  • serfserf Member Posts: 9,217 ✭✭✭✭
    us55840 said:
    ROY222 said:
    Food and bullets are the currency of last resort.
    Watch "The Road"
      THIS!
      The Twelve Monkeys! Is more like it.

    · Share on FacebookShare on Twitter
Sign In or Register to comment.