But it’s not an either-or choice, GG. To be wise, I think people should have a lot of food and at least some precious metals stashed away. Even if one was 100% self-sufficient and could make their own shoes, retread their own tires, spin their own cloth, etc - there are times when money will be needed. The doctor might barter for food, but the property tax collector likely will not. Some others that provide needed services may not either if they already have enough food.
And although PM cannot be used as money at the moment, history shows that when a country breaks apart and their currency becomes worthless, precious metals once agaain start being used as money (ie., Argentina and keep an eye on Iceland). Historically here, as the dollar drops, PM values rise. So it’s also a good hedge against hyperinflation as far as capital preservation goes to have at least some investment in PM in a portfolio. The market certainly isn’t helping with inflation. CDs pay pitifully. And treasuries - when Asia decides she wants no more, the dollar will be in big trouble.
Besides, I don’t have the storage for $25,000 worth of food. That would likely take another 2-3 bedrooms!. Maybe when my son moves out ;) However, $25,000 worth of silver will fit easily in a gun case. Silver is more likely to be needed for daily trading, gold only for large/expensive items. Speaking of gun cases ... not just food or PM can be used for trading. Ammo, soap, tools, all types of services, etc. I heard on the radio that bartering on Craig’s list is up by 100% over last year. Perhaps it’s starting...
>>>But it’s not an either-or choice, GG. <<<
I know, and I have a bag of old silver dollars too.
Hmmm, $25,000 will get you a nice tractor with backhoe and loader... Earn that gold and silver by digging bomb shelters for people? OK, OK - I know men and their toys...
Knowledge and a good line will take many a mans silver...
My grandfather laughed himself silly over the treatment one of the farmers he was dealing with gave to one salesman. The car salesman was trying to sell the farmer on buying a new pickup. He had brought the one the farmer was looking at out to the farm to show him again.
The farmer made a bet with the salesman - since they were only $100 apart in making the deal, the farmer said look lets inject a bit of chance - we will pick an ear of corn and break it in half - count the number of rows of corn and if it is odd, I will pay you your price - if it is even, I get my price. The salesman thought for a minute and said ok, deal... The farmer won that, so he said to the salesman, well since you look so dissapointed, would you like to try for double or nothing... Again the number of rows were even. Farmer said boy, I’ve sure been lucky - and he told the salesman that his luck was bound to turn around - what would be the chance of picking 3 ears of corn with even number of rows... and if I lose, I will pay you your full price and If I win we can take $400 off.
Well, by the time they were done, the farmer had won a free pickup and some spending cash from the salesman. Only then did the farmer tell him - Son, before you start being greedy and trying chance to make money, know what you are betting - the whole crib of corn is even number of rows because that’s how corn grows - Now we are going to take that $100 off like I originally wanted and you can consider this a cheap lesson in life.