China admits to stocking up on gold. I also admit to stocking up on gold.
If you are doing OK on food, medicine, arms and ammo with some cash left over it would be a good idea to get some gold (and silver). I currently split the cash going towards precious metals more or less equally between silver and gold and it is working pretty well for me. Somewhere down the road in a few years once we have enough silver it will just be gold.
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4 comments:
I good gun safe will hold more than just guns and magazines.
Mine certainly does.
I think saving some gold is a good idea, but beware the need to have to stay in place to use it. A safety deposit box of Kruggerands might become the property of the bank or authorities who choose to exercise their right to 'check' their clients contents.
I think Ferfal's blog has some great advice with gold, keeping some small pieces that can be broken down easily like thin gold chains, makes sense. A compact scale is all you need to determine the price.
Far more compact than a roll of coins, they can be hidden anywhere, even on a door frame lintel above where cannot be seen. Easily purchased at pawn shops or jewelery stores without gaining attention.
I'd personally choose silver over gold.
The value of gold is artificial mostly, silver is a valued substance for the chemical industry, as is platinum if you're concerned about volume/weight.
GunRights4US, Very good point. A gunsafe can hold a few extra things and really if your precious metals collection is big enough that it won't fit in the nooks and crannies of the safe you have a wonderful problem.
Anon, I think it is a good idea to keep your precious metals in a location where you can get them regardless of banks being closed. There are lots of great places you could hide some gold. I love FerFals stuff also.
Michael Hawkins, I personally rock with a bi metal standard. Both have intrinsic value which has been proven over centuries. Silver is great because anyone can afford to get a few ounces of the stuff. Gold is great because it is a very compact store of value. I could walk around with $10,000 in gold on my person and nobody would notice while with silver I would need a backpack for sure.
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