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For the scenario envisioned, I think 10% could be a bit low to keep in precious metal commodities. Especially if you have an otherwise diversified foundation portfolio. Upping it to 20-25% wouldn't hurt, maybe diversify metals as well, or if things get very risky in your opinion you can temporarily adjust up and drop it lower if things settle down.
Just be sure to have a safe or equivalent to store it in. The weight of the metal will make thieves have a hard time running off with it.
For the scenario envisioned, I think 10% could be a bit low to keep in precious metal commodities. Especially if you have an otherwise diversified foundation portfolio. Upping it to 20-25% wouldn't hurt, maybe diversify metals as well, or if things get very risky in your opinion you can temporarily adjust up and drop it lower if things settle down.
Just be sure to have a safe or equivalent to store it in. The weight of the metal will make thieves have a hard time running off with it.
I have quite a large safe, which is also bolted to the basement floor. it not only has silver and gold in it, but also my firearms as well.
How about when fiat currencies fail because of quantitative easing? Why would you use things you need to consume as currency? That's specifically why gold and silver became media of exchange. "I'll trade you 80 gallons of gas for your wheat." "Nah, I don't need 80 gallons of gas, how about you give me gold." Why not use a common medium of exchange? You're totally wrong, but it'll be your loss. Watching your savings erode away by the Bernanke printing press makes me giggle.
Why would you trade things that you need to survive.. as currency? lets think about this shall we?
If I'm stranded in the middle of a desert, I'd rather have water
If I'm in a town just hit by a Katrina, I'd rather have water
If I'm in a town just devistated by an earthquake, I'd rather have water
There isnt ONE scenario that puts gold ahead of water in the event of devistation.
And no, I'm not telling you that you should be buying 500 gallons of water as "investments", I'm simply disputing the myth that people will stand around during a natural disaster selling gold..
The value of gold and silver has remained the same. An ounce of each is still an ounce of each. The number of dollars to buy those commodities has increased which means that the dollars have lost value rather than the gold and silver have gained value. Fiat money is worthless when the government can simply print 20 trillion more of it to erase its debts. I would support learning survival skills, buying these two commodities and perhaps others, and before the SHTF, buying--outright--large items like machinery, tools, and houses in addition to everyday necessities. In the end, you want physical objects, not cash.
Let's not forget land, just my opinion, but land will always be the most valuable commodity, they stopped making it long ago.
Why would you trade things that you need to survive.. as currency? lets think about this shall we?
If I'm stranded in the middle of a desert, I'd rather have water
If I'm in a town just hit by a Katrina, I'd rather have water
If I'm in a town just devistated by an earthquake, I'd rather have water
There isnt ONE scenario that puts gold ahead of water in the event of devistation.
And no, I'm not telling you that you should be buying 500 gallons of water as "investments", I'm simply disputing the myth that people will stand around during a natural disaster selling gold..
This i would have to agree with. Though beck would like to have people think gold is the end all, be all (besides his books) the greatest and must have item to survive the apocalypse is absurd. Things like water, food, guns/ammunition and toilet paper are said to be the most valuable items.
Why would you trade things that you need to survive.. as currency? lets think about this shall we?
If I'm stranded in the middle of a desert, I'd rather have water
If I'm in a town just hit by a Katrina, I'd rather have water
If I'm in a town just devistated by an earthquake, I'd rather have water
There isnt ONE scenario that puts gold ahead of water in the event of devistation.
And no, I'm not telling you that you should be buying 500 gallons of water as "investments", I'm simply disputing the myth that people will stand around during a natural disaster selling gold..
Yes, but you're naming freak scenarios, not a post dollar society where people will inevitably engage in commerce.
1 oz American silver eagles. Is anyone else like me, doesn't really buy into doomsday scenarios, but still thinks things might get a bit worse (state debt defaults, unemployment spike to low teens because of state worker layoffs, potential of QE3). I'm not going nuts here, but I'm pretty much putting 10% of my paychecks into precious metals in case things in Washington start to really run away.
I have bought one ounce of gold every month for the last 20 years. I would not, however, buy a large amount of precious metals today.
If the republicans fail to reverse the spending policies of Obama and the previous democratic congress, currency devaluation will absolutely occur. Even if other currencies remain stable, the relative price of commodities will increase for us in the US. This will increase the price of gold and silver in the US.
I do not think that anyone should have more than 5% of their net worth in precious metals. It is a worst case scenario hedge and should compose a small amount of any portfolio.
I bought 150 pounds of silver when it was 9 bucks a ounce, better price then.
Maybe you ought to sell. Then you will find the capital gains tax is much higher for collectibles, including silver and gold, than for stocks. Maybe stock in gold mining companies, as well as Smith & Wesson, are the ticket.
1 oz American silver eagles. Is anyone else like me, doesn't really buy into doomsday scenarios, but still thinks things might get a bit worse (state debt defaults, unemployment spike to low teens because of state worker layoffs, potential of QE3). I'm not going nuts here, but I'm pretty much putting 10% of my paychecks into precious metals in case things in Washington start to really run away.
Cool , welcome to the cynical club .
I bought $2,000 worth in October , now they are worth over $3,000 . I am happy and sad . If silver is up America is down.
I thought to buy them in case the dollar went down to pennies , if only for a month or two . I rescue cats , I know the government will hand out food for people but I will need to insure the cats food and health.
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