#19954
Profile photo of WhiteKnight
WhiteKnight
Survivalist
rprepper

I support having precious metals, and have a modest amount of my own (I know, what kind of lunatic 25 year old forgoes a smartphone for gold and silver coins!?). Here are my reasons why.

1) The always wise choice of diversifying your assets is a general first reason because you truly never know what might happen. (And yes, take care of food and other necessities first before buying gold and silver!)

2) Gold and Silver will be most useful in the event of a slow, painful, hyperinflationary collapse, which I feel isn’t quite as likely as a sudden collapse but nonetheless possible. The reasons for its usefulness are obvious in that respect. The same goes for a ‘post SHTF’ rebuilding period, where small barter communities are coming together and there is some sense of law and order. People won’t turn down legitimate gold and silver in that case.

3) Malgus kind of touched on this already, but think in terms of bribing soldiers. Soldiers are going to be likely fed, with families’ necessities supplied by the powers that be to keep them compliant. Somewhere online I remember reading a post on some forum where the person mocked an economist encouraging them (not selling it) to buy gold and silver. Purportedly, they had a dream that night where they encountered a Russian soldier on US soil who was guarding a border of some sort. He asked them what their lives were worth, suggesting that he’d allow them to escape for the right price. In the dream they offered him silver and he refused saying ‘silver is for your food, gold is what buys your life.’ They believe the dream was a warning. Whether you believe the story or not isn’t relevant… it brings up an excellent point.

4) In case we’re all somehow wrong, and there is no collapse somehow, we can simply sell it off… likely for a decent profit at a later date. Food storage and other gear would then be taking a loss.

5) I like the rebellious nature of buying gold and silver. Kind of like rebelling against the debt slavery system! Haha.