Who is buying gold?

[Patriotic Sheepdog]

I know most of us here have or will be buying precious metals, not as an investment but as a hedge against inflation. There have been some other people buying up gold in the last few months. These would be Mexican central bank, Asian countries including China, India, S. Korea, Thailand and Bangladesh, and even Iran seems to see the writing on the wall. That writing is, in case you cannot see it, paper money is becoming worthless. Think about it, if the central banks thought that paper money was or will be worth something in the future, (especially if you can just print it), then why would they be spending paper money on buying gold? They know inflation is coming. To me it seems like they are devaluing their curencies on purpose. I think a financial crisis is coming, kind of like that big Phoenix dust storm the other day. It is approaching us and there is nothing that can stop it. When it hits, is still the question.

If you have not been able to get some precious metals, you may want to try and get some. Just don't buy PM's unless you have a good start on your preps. A way to buy some silver would be junk silver as it is only 90% silver. Here is a thread on S&P or you can use the search tool to find more.

[Lowdown3]

Would make sense that the banks are buying it up now- as the price has stayed relatively steady for a while. I feel for the folks that bought silver at $48. an ounce. It may skyrocket past that in a few months, or it may be below that for years.

[monkeybird]

PMs, in my opinion as part of the essentials preps. People say you can't eat it, well, no you can't, but at the very beginning of a crisis and the end of one, it's priceless. There will always be greedy people during a time of collapse and chaos. Then will be the time to use it. Most of us have an opinion of the way the collapse will happen. Suppose it doesn't fall that way. Suppose it's a biological agent. That's the time you PMs will allow you to get medicine and supplies, or whatever else the situation demands.

At the end of a collapse, when food is once again available, people we recognize the time to rebuild and reestablish is at hand. They will accept PMs as a hedge on the future. Since the beginning of time PMs, along with seashells, have been the basis of an economic system.

FYI, never buy paper certificates where someone else stores you PMs. And don't put PMs in the bank!

[Rmplstlskn]

I'd buy more gold & silver if I would stop buying tangible goods that are useful before inflation gets worse with every spare $$$ I have... DOH...

Rmpl

[Irish-Tech]

i bought a lot of silver 10 years ago. it not enough to help against inflation, but i think it will be good for the the beginning for SHTF. once people realize money/credit is useless you will not be able to buy anything unless you have something to barter with.

[trkarl]

I'd buy more gold & silver if I would stop buying tangible goods that are useful before inflation gets worse with every spare $$$ I have... DOH...

Rmpl

Good dose if wisdom there. All the pm's in the world won't do any good if what you need isn't available. Here is a good little pdf everyone should read imho:

http://www.biorationalinstitute.com/zcontent/alpha_strategy.pdf

For a real shtf having the means to produce something will put you way ahead of those who don't.
Tangibles like seeds, fertilizers, solar panels, parts, tools, and the list goes on and on are what is needed now and in the near future.

Though I am not knocking pm's as I have a decent amount. I am just saying there are other bases I feel are more important to cover before you get to wealth storage in pm's.

[arcangel911]

I am looking more into silver..... poor mans gold for me. But I was curious, when you buy silver, do you actually have it at your house? Or is it like a stock thing on paper? (Sorry, kind of new to the whole idea of investing in precious metals. I am more of a fan of having the tangible thing, cause I know where it is and who has it.)

[trkarl]

You can "buy" it on paper but then when push comes to shove all you have is paper. ALWAYS take delivery. If you can't see it touch it taste it and smell it then you don't own it.

[Irish-Tech]

actual silver/gold is the only way to go.

[Bearman202]

Storing PM's

This is a bit of a quandary. If you keep it in your house, and you get burglarized, you're screwed. Burying it in the back yard isn't a much better idea. If something happens to you, do the people who need the information know where it is and how to get to it? The idea of putting it under your mattress is an equally bad idea. I have a gun safe, but gun safes have been stolen before. Granted, this beast is heavy, and it would take some effort to get it out of here, but it could happen. Keeping it in a storage unit makes even less sense. Miss two payments and someone else owns it. I've got some, but it's in a bank deposit box, which is an equally bad idea. If the bank is closed, I can't get to it. I'm looking for suggestions here.

Anybody?

[rockriver]

if i go get some silver...
i will want the real stuff.

will i want to keep it where i control it, example my house? yes
in a safe? yes good idea
in a can buried? yes good idea
telling my very close family? yes
explaining that they are not to use this handful of change for a coke from a coke machine? YES!

makes me wonder..
3 silver quarters for a coke = about $15.00 is that right??

[bountyhunter69]

i take physical possession of all gold and silver,no paper or dont let any company "store it safely" for me..when the SHTF,all you have is a worthless piece of paper (kinda sounds like the future FRNs right)i keep mine in fireproof box..avail @chinamart and keep it hidden well..let only trusted close trusted people know that u own PMs and where u have it hidden it..never in safe deposit box..when banks gets locked "banking holiday",remember Roosevelt locked em up,so can Obommer.. u may as well not even have PMs..but first and foremost,get ALL your preps in order first..remember u cant eat PMs,even tho they are a hedge against inflation,but so are my preps,food goes up every month and they will fill many hungry bellys when TSHTF

[Bull]

When I'm feeling especially optimistic I buy some silver. Most of the time I just continue to stock up on essentials, tangibles as mentioned above. If the SHTF scenario doesn't bring total collapse, and only really bad economic times and hyperinflation, it will be nice to have some silver and gold. If it gets worse than that, I would rather have more of all the other preps. I'm trying to acquire a good ratio of both, PM's and tangible prep supplies, but for a while I have been moving towards the tangible. Wish I would have bought a lot more silver when I did at $18 an ounce. But, I really felt like I needed more tangibles then. Decisions, decisions.