how precious metals work in SHTF

Home Forums Preps Precious Metals how precious metals work in SHTF

This topic contains 11 replies, has 8 voices, and was last updated by  James Mitchner 10 months, 3 weeks ago.

  • Author
    Posts
  • #1279

    Selco
    Keymaster

    Here is a post a friend of mine made about the use of precious metals during a crisis:

    Alright folks. I just wanted to share this as an illustration of Selco Begovic point regarding use of precious metals in a crisis (for this example, gold). REMEMBER they will be worth entirely what you can trade for them in that time. You must forget all notion that ‘in’ a crisis, gold will hold its value, it is only once you escape the crisis area will you ever stand a chance of ‘cashing in’ your gold of anything resembling it’s face value.

    Here is an extract from the book, ‘The One That Got Away’ by Chris Ryan. Basically the book can be summarized:
    —-
    The British Army’s Special Air Service (SAS) is one of the world’s premier special operations units. During the Gulf War, deep behind Iraqi lines, an SAS team was compromised. A fierce firefight ensued, and the eight men were forced to run for their lives. Only one, Chris Ryan, escaped capture or death, and he did it by walking nearly 180 miles through the desert for seven days and eight nights….
    —-
    At the end of this epic journey, Ryan is forced to make contact with locals as he had gone multiple days without drinking and dehydration was reaching life threatening levels…

    So, having received 2 bowls of water, 1 cup of ta and a piece of bread, in order to try and get taken to the police at the Syria border Ryan offers one gold sovereign (of 8 he was carrying for escape and evasion purposes)

    Lets say that again. Two bowls of water, one cup of tea, a piece of bread and a ride into town. THAT is what gold was worth in that circumstance. I’m hoping this helps illustrate the point…

    Also lets not forget, this gold was offered by an armed, exceptionally trained elite forces soldier, because he realized, at the time, he wasn’t shooting his way to a solution…

  • #1282

    Crow Bar
    Keymaster

    Thanx for posting that Selco.
    Always see the great debate of the value of PMs, second to the infamous Which is the best rifle when SHTF debate, on every forum.

    Would I like to have PMs? Sure. But I can think of a few dozen other things I would rather have or even need right now then PMs.

    As always, I think of Maslow’s Hierarchy of Needs. IF S were to HTF, that bottom of the pyramid is going to be very important.
    Not sure where PMs fit in that pyramid.

  • #1669

    Inspired Too
    Participant

    Surprise announcement by the IMF, 10/23/2018 (International Monetary Fund, private institution to help coordinate Central Banks, set up a long time ago to loan $s to countries, in order to obtain their resources when they can’t pay back their loans!) highlighting Gold’s importance as a ‘diversification’ from paper assets. We’re wondering why this announcement- is it a heads up for a GLOBAL economic collapse, which they (IMF) have been warning about for the past month??

  • #1676

    Anonymous

    @Inspired_Too, I would not read much into it. Most of the gold transactions on the financial markets are not for physical gold but for paper future. If I had to guess, they are probably trying to unload their worthless paper. That’s what they do always before the economy crashes. Find someone else to hold the bag.

  • #1683

    buttcrackofdoom
    Participant

    good one, selco, i saw that on TEEVEE, and nothing was said about the gold….like i said before, when i go out of town over 100 miles, i carry 3 gold one ounce coins with me…..just in case.

  • #1699

    Casper Ship
    Participant

    “Two bowls of water, one cup of tea, a piece of bread and a ride into town. THAT is what gold was worth in that circumstance.”

    This point can be viewed from a very different perspective. If Chris Ryan was suffering from life threatening dehydration, what he received for his one gold sovereign was “PRICELESS.”

  • #1703

    Crow Bar
    Keymaster

    @Casper Ship, good observation.
    Pre-SHTF, eggs are $3.99 a dozen.
    A year post-SHTF same eggs might be going for a gold coin or two.

  • #1705

    Anonymous

    This is a general lesson to learn. It is not just limited to gold. We are conditioned since childhood to value things in term of money. Truth is that value is a relative measure that change with times and circumstances and we should assign value to thing bases on what things do for us. What is your house value? It is a roof that keeps you dry and walls that protect you. That never changes, no matter the market conditions. The dollar value is in play only in the moment you are selling it. A luxury car is as valuable as an economy one because both take you from point A to point B. And if gas is hard to get, the economy car is more valuable because of its fuel efficiency.

  • #1903

    Decomposed
    Participant

    Precious metals are useful in a TEOTWAWKI situation. Most have several of the following qualities:

    o Small amounts represent significant value.
    o Can withstand cold, water and fire.
    o Are readily recognized for what they are. (Difficult to counterfeit).
    o Have a history of being valued (improving the odds that they will continue to be in demand.)
    o Do not degrade, rot, go rancid or otherwise deteriorate over time.
    o Are easily stored, transported and concealed.

    HOWEVER, they aren’t the only assets I’ve stocked for trading purposes. Guns, ammunition and hard liquor have many of the above as well AND one other important quality:

    o They are useful for more than just money.

    Some argue that money SHOULDN’T have other uses… that its value will not be stable as interest in that other use waxes and wanes. There’s something to that so, with that in mind, I recommend having some amount of all four items: Precious metals, guns, ammunition, hard liquor.

    Can you think of other items that might serve well as money? In 15 years of mulling this over, I haven’t. Perhaps certain gemstones (but not diamonds.) MOST things deteriorate (coffee, seeds, medicines), are fragile (fine art, horses), are too bulky to preserve significant wealth (tractors, gasoline, radios), may not survive societal collapse (stock certificates) or are hard to transport (farmable land.)

    If you’re a prepper, this question is definitely worth pondering.

    • This reply was modified 10 months, 4 weeks ago by  Decomposed.
    • This reply was modified 10 months, 4 weeks ago by  Decomposed.
    • This reply was modified 10 months, 4 weeks ago by  Decomposed.
    • This reply was modified 10 months, 4 weeks ago by  Decomposed.
  • #1921

    Crow Bar
    Keymaster

    @decomposed,
    With respect, I beg to differ, there have been counterfeits of PMs.
    The most recent one I can recall reading in the news was a Asian gentleman bought a piece of gold from a bank. IIRC he was in a pawn biz. After opening the package, he felt something was wrong. Sure enough, it was counterfeit.
    And the bank he got it from would not take it back.
    IIRC, that was in Canada.

    And, I would not be able to recognize a real PM vs one of those late night informercial, or back of a gun magazine commemorative coins.
    Someone offers me a coin, I am going to ask, “What else ya got to trade?”

  • #1943

    buttcrackofdoom
    Participant

    you’ll be fine, as long as you got all this shit.
    get ready for ANYTHING, and you’ll be ready for EVERYTHING!

    rescue tape or silicone tape
    JB Weld
    a list of phone numbers, in case your cel is lost or quits on you
    board games & card games.
    Fire extinguishers.
    Books on foraging and how to use herbs and essential oils.
    cookbooks
    sandbags
    Batteries
    Binoculars
    Boots
    Bug out Bag
    Camp Axe
    Camping pots/pans
    Camping utensils
    Canteen
    Duct tape
    Emergency Radio
    Energy bars
    Fire extinguisher
    First aid kit
    Flares
    Flashlight
    firestarter
    Gas mask
    Gloves
    Hunting supplies
    Lantern
    LED Headlamp
    Machete
    Multi Vitamin
    Mylar blanket
    Paracord
    Portable Generator
    Rain Barrel
    Rain Suit
    Saw
    Seeds
    Sleeping bag
    Survival Knife
    Tent
    Water bottle
    Water Filtration
    Water Tablets
    Whistle
    1 pair of baofeng 2 way radios with spare batteries, fuse, alcohol stove and spare wicks (no smoke or odor)
    plumbers goop or shoe goo, shoelaces(or just use paracord), rechargeable batteries and charger, multi voltage multi tip 12 volt power adapter, battery powered motion sensor alarms, flir night vision scope, clothes pins (can also be used as triggers for tripwires), rat traps, coyote traps, battery powered motion sensor lights, spare spark plugs and tune up items, pri-g and pri-d fuel stabilizer, chainsaw files, spare chains, tire chains, come-a-long, spare tires, motor oil, flare gun, guillie suit, high powered binocs, medicinal herb seeds, crutches, ace bandages, Lee basic reloaders, bow and arrows (silent), reading glasses, hatchet, folding shovel with pick.

    A tire repair kit. A kit that can fix multiple punctures could be a God send!
    hacksaw
    Work gloves
    Solar battery charger. I have a great AA/AAA Ni MH Battery charger, and a 15 watt solar panel. It still needed a voltage regulator between the two, so I don’t damage the battery charger. People can google 12 volt regulator circuit. They are easy to build from Radio Shack partsI have built several for a couple for different voltages. 12 volt exactly for 12 volt devices, and 13.8 for slow charging lead acid batteries. 14.5 volt for fast charging lead acid batteries
    duct tape
    Ant-acid and stool softener. In a SHTF situation people will be exposed to new pathogens and foods, lots of Pepto folks, it could save your life.
    Plain aspirin, lots of exertion means heart stress. Plain Aspirin could save lives
    I listed IV for emergency fluid replacement. The needles and solution need to be absolutely sterile, and are prescription only in many states. Grandma just used an enema bulb, still available in drug stores, it saved babies and children from dying due to dehydration. Plain clean water or better a 30% pedi-a-lite solution is best. Yup, Gatorade works in a pinch. Add 30% wine to it and they’ll feel no pain while you do stitches.
    “Gerber multitool……….“lock pick” set, but be aware of state laws on this item. Bolt cutters will open gates
    gold/silver
    solar panel
    jogging stroller
    cast iron dutch oven
    CASH. GAS!!!!!!!!!!!
    water….sugar….flour….powdered milk……….t/p………………top ramen….pancake mix….candy, rock…..DOG FOOD…VEG OIL…rice…..beans…………macaroni…………bleach…………benadryl…..wipies….garbage bags…….plastic cups,forks,spoon,knives .
    IV for rehydration
    photo albums, identification (birth certificates, social security cards, financial documents, wills/deeds, and medical insurance information), proof of address, as well as items for a 72 hour bag.
    brillo pad makes a good fire starter with jumper cables)or a 9 volt battery
    extreme cooler (use it to carry water, if needed)
    antibiotics from the vet supply store ampicillin, amoxacillin, penicilin, and others
    a hat for sleeping in
    Storable Food
    Shelter
    An Axe
    Lighters Or Matches
    Hiking Boots Or Comfortable Shoes
    A Flashlight And/Or Lantern
    A Radio/Communication Equipment
    A Swiss Army Knife
    Personal Hygiene Items
    A First Aid Kit And Other Medical Supplies
    Extra Gasoline (But Be Very Careful How You Store It)
    A Sewing Kit
    Self-Defense Equipment
    A Compass
    Hiking Backpacks
    A Community
    A Backup Plan
    Salt
    Extra Batteries
    Medicine
    A Camp Stove
    Propane
    Heirloom Seeds
    An LED Headlamp
    Candles
    Clorox
    Calcium Hypochlorite
    Maps Of Your Area
    rifle For Hunting
    Extra Socks
    Gold And Silver Coins For Bartering
    citizens band radio
    toolbag
    eyeglasses
    computer
    battery chargers and phone chargers
    kool aid
    bleach
    bike tubes
    gold/silver
    coins
    4×6, or 6×8’s for crossing obstacles(3 feet long)
    wasp spray
    hunting knife
    food
    vaseline
    water and purification stuff
    dutch oven
    coffee/water filters
    Gun Cleaning Kit & Supplies
    Wire and Wire Cutters
    Fire Extinguisher
    hacksaw………GOOD pair of wire cutters….butt connector pliers and wire connectors ….11-1 screwdrivers-not some cheap-o
    6 foot Pry bars-lift heavy items, pop open doors, break locks, move hot objects. harbor freight
    sandpaper/crocus cloth…………….. file for sharpening tools……….. hammer
    MAGNIFYING GLASS FIRESTARTER
    bailing wire
    box of bolts/nuts/hose clamps
    3/32” E-6010 welding rods. These can be used with three 12 volt car batteries and some jumper cables to make an emergency field repair.
    peanut butter and crackers makes a great shtf meal
    vise grips
    fix a flat/air compressor
    Tarp (2) and 550 para-cord (shelter) You want two tarps, one for shelter above the head and one for the ground under your head
    Ponchos to protect from rain
    A folding saw and shovel.
    A handheld chainsaw (they are about the size of a mans wallet)
    Lightweight hatchet
    army survival manualor others
    2 pairs of socks. One pair of our socks is a thermal type(wool is best) that will keep your feet warm in up to zero degree weather. It all depends on where you live and where you will be traveling. Cotton socks tend to hold moisture so you might not want cotton.
    good pair of warm gloves/work gloves. Mine are a combination of both.
    A pair of good boots or hiking shoes
    A pair of long pants. I prefer not to have jeans. They are heaver and if they get wet, they stay wet for a long time.
    One pair thermal underwear/pants and shirt, at LEAST for everyone in family.
    dogs and dog food …small dogs hear EVERYTHING, and eat less!
    cash!
    deck of cards
    food…pepperoni granola bars…..
    first aid book… where there is no doctor book
    paper plates
    ziplock bags
    aluminum foil
    butane stove or some other way to cook
    eye drops
    chap stick
    lotion
    rope
    plastic wrap
    sanitizer
    toothpaste/toothbrush
    powdered milk will be HUUUUGGGGEEEEEE ..have a LOT of it!
    Bug Out Bag Contents
    The Pack – I have a LC-1 “Alice” pack but any quality pack with enough capacity will do. Stick with camouflage, dark green or other natural colors that blend with the terrain.
    Water – A canteen with cup and cover for your belt, water bottle and a good filter.
    Fire – Waterproof matches, a magnesium fire starter and tinder.
    Food – Pack enough to last 5-7 days. Rice, oat meal, beef jerky, energy bars etc. Another option is MRE’s and the freeze-dried foods. choose foods that are light weight and a suitable shelf life.
    Stove – A small stove is essential it you want to stay hidden. Smoke and noise from the cutting and burning of wood would be undesirable if you are in hostile territory or being pursued. I have a Peak-One backpackers stove, there are others but this is what I have and can recommend.
    military 4 part sleep system…protects to minus 30 degrees if you know what to do with it…and at LEAST have the bivy bag part of it in your car in case you get stranded….if you are dressed for the climate you’re in, it might only take that bivy to save yer life. randy
    Shelter – Rain poncho and tarp or compact tent, stick with natural colors that blend with the surrounding area.
    Cooking – I have a Stainless Steel 5-Piece Mess Kit, that I ordered from amazon.com but any lightweight kit will do.
    First Aid – It’s best to assemble your own kit, tailored to your needs, or if you are lazy you can buy a ready-made kit. Don’t forget to add personal medications.
    Light – I have a 2-AA Cell Mini LED Flashlight Mini LED Flashlight and a 9-Hour Candle.
    Tools – A folding saw, Swiss Army pocket knife, and fixed blade knife. A light weight shovel and Machete are nice, but add extra weight.
    Clothing – At least one extra pair of socks and underwear add other items if you feel the need and have the space.
    Fishing – Line, hooks and sinkers and a few small lures. I also have a small gill net for catching fish.
    Snare wire – I make my own from copper wire. Don’t forget to include at least 50 ft of parachute cord.
    Plastic bags – Two or three large lawn bags and several zip-lock sandwich bags, can be used for a number of tasks and to keep things dry.
    Binoculars – See game and enemy before they see you.
    Sewing kit – Needle and thread don’t forget to include a few extra buttons.
    This n’ that – Head net, electrical tape, face paint, gloves, sharpening stone etc.
    Firearms – This is where feathers get ruffled and wounds opened. Everyone has their own idea of what the “perfect” survival firearm is or should be.
    I am not going to get into all the choices here, which would be an article in and of itself.
    Coffee, sugar, and chocolate.And salt. Buy these items in bulk. Store in baggies for trade.
    coffee filts for straining water and bleach
    pitchfork
    digging bar
    tow straps/shackles/chain with pipe for towing
    Antacids
    Anti-diarrheal
    BULLETPROOF VEST
    holsters/pistols
    loadbearing vest
    pain reliever
    Children’s pain reliever
    First aid book
    Prescription medications (keep copies for records)
    Cold/flu medicines
    Vitamins
    blood clotting
    Sterile gauze
    Dressing bandages
    Dressing rolls
    Medical tape
    lidocaine
    Bandages of all sizes
    Alcohol wipes
    Hydrogen peroxide
    Eye flushing solution
    Anesthetic solution
    Hypodermic needles (for the antiseptic solution)
    Electrolyte tablets
    Benadryl
    Scissors
    Tweezers
    Cold Packs
    Antibiotic ointment
    Thermometers
    Skin irritation creams
    Gloves
    Mask
    Suture needles/string
    List of medical contact phone numbers
    Medical history file (if needed)
    medicine cabinet…take the whole damn thing
    ladder
    giant channel-lock pliers and crescent wrench
    vitamin c…scurvy
    appologies for the stuff that’s on here two….or MORE times, but i aint cleaned it up in a while….someday when i’m not doin’ nuthin’…

  • #2929

    James Mitchner
    Participant

    PMs are just like any other prep, but further down the list because there are more important items that should be obtained and stored first. Food for instance, a reliable source of water, shelter, and the means to keep and protect it. Once you get all your “beans, bullets, and band-aides”, then it might be time to consider adding a few PMs>

You must be logged in to reply to this topic.

Skip to toolbar