I sort of disagree in the sense that barter works better in 1:1 or micro groups (granted) but it doesn't work that well in low to medium complexity groups where, for example, my ability to do XYZ depends upon the seasons and I meed a store of value to trade later.
You need something liquid. PMs are good because they have a lot of uses, preserve easily, and are light weight. There's been a number of commodity backed currencies in the past too. For instance, whisky, corn, tobacco banks
Second comment: the reason silver is going down is because they raised rates and they sold like 8 billion ounces whole market was closed. Mathematically it's about a -10x leverage. If i have time I'll post on this
It's less that silver has "redeemable value" and more that "what the fuck am I supposed to do with this rectangular piece of green paper when all the banks and the nation that support it are falling apart..."
Think of silver and gold less like buying silver and more like reducing the risk associated with holding only USD. It's a way to protect part of your savings from utter collapse, so that you have something to restart a new life with in a new society that emerges from the ashes.
It’s a commodity. Someone will buy it, unlike a stock, bond, ETF, crypto, etc. But yeah, it isn’t going to save your ass in a pinch.
Exactly. Barter or cash. No one will know the value of gold and silver when you are trying not to starve.
If you make it past the initial starvation part it will be valuable. And of course valuable in the very immediate beginning
I sort of disagree in the sense that barter works better in 1:1 or micro groups (granted) but it doesn't work that well in low to medium complexity groups where, for example, my ability to do XYZ depends upon the seasons and I meed a store of value to trade later.
You need something liquid. PMs are good because they have a lot of uses, preserve easily, and are light weight. There's been a number of commodity backed currencies in the past too. For instance, whisky, corn, tobacco banks
Second comment: the reason silver is going down is because they raised rates and they sold like 8 billion ounces whole market was closed. Mathematically it's about a -10x leverage. If i have time I'll post on this
It's actually the most demanded industrial metal if price drops to ~4x copper
It's less that silver has "redeemable value" and more that "what the fuck am I supposed to do with this rectangular piece of green paper when all the banks and the nation that support it are falling apart..."
Think of silver and gold less like buying silver and more like reducing the risk associated with holding only USD. It's a way to protect part of your savings from utter collapse, so that you have something to restart a new life with in a new society that emerges from the ashes.
Boomers are and always have been the obnoxiously vocal minority.
They really should be relegated to Facebook exclusively. Then they can shill their shiny trinkets to each other in peace.
Anyone unironically participating in SETF or PTG threads qualify for quarantine.
Dissolve silver in nitric acid, pump acetylene through it. Collect and dry the powder.
Congratulations, you've got a contact high explosive.
No, my silver is very useful in the event of a total collapse.