Geez! They are dumber than rocks...Completely Brain Dead!
Wait till they find out the dollar is worthless...
It is going to be interesting watching people go to fill up their gas tanks spending $200 for a 10 gallon tank and that will be for only 4 days if own an SUV.
Milk will be given up at some point. I figure $65 dollars for a gallon will be the straw the breaks the camel's back. But the real surprise will be Orange Juice. That will fly to at least $99 a gallon.....and those will be early 2010 prices.
Oh and the Govt will take a full 20% per month right off the bat for your socialized health care medicine.
I get white knuckles thinking about 2011 when those Cap N' Tax Global Warming taxes roll in. They are going to tax everything including air.
These brain dead people will be kicking themselves wishing they had spent the $50 bucks for a gold canadian coin worth 1100 US.
Back when gold was $688.00 I converted my most of my dollar savings. It was a scary thing to do because I read from the 'experts' that gold would never, ever go above $700 and stay there.
I learned about fiat money and when it really was, and how debt works via the banks
oh its legit... Most Americans are still selling their gold for cash. Therefore, and for those who thinks gold is at its highs, we ain't seen nothin' yet.
Mark Dice has so much knowledge, but sadly he is a douchbag. He likes to flaunt that smug attitude about what he knows about 9/11, the Fed and such; all true, but then he'll bring up Jesus. Geezus. The biggest elite fraud of them all. Same pattern as Alex Jones. Tons of truth mixed in with cartoonish ignorance.
I knew the first time I saw him bum rush a group of Mormons to tell them how stupid they were (they are) that he would soon reveal his own delusions.
Truthers. Good people. But what truthers don't understand is that none of us know 100% truth and have it all correct. We all cling on to certain lies and socially structure behaviors that are so subtle, they squeak by unnoticed.
That is why a little humility goes a long way. Mark has none.
For those who doubt the value of precious metals, just try to remember a history lesson. What’s the difference in value of the Russian paper currency of 1905 and its platinum coin? With paper money you can probably wipe your a$$ (unless you’re a numismatist) – that’s all it is good for, but the platinum (1oz) coin is worth $1361 as of right now. Based on how things are developing, US dollar (as many other currencies) is to replace the czarist rubble in the washrooms throughout the world. In other words we are going to have quite a selection of exotic toilet paper.
I may have to rethink my strategy of collecting gold and silver bullion to use for bartering after the dollar collapses. People are waaaay less informed that I thought, and that is saying something. Obviously, the fiat money magic spell has been very effective and will not be broken easily. They are going to be VERY ANGRY when the dollar collapses.
Too bad I wasn't the guy he handed the coin to at arm's length when he stated he was offering to sell the coin for $50.
I would have immediately handed him $50 and said I agree to the offer.
Cash and the item would have changed hands, done deal.
That would have been a hilarious backfire. I don't think Mark would have been able to do anything about it short of robbing the coin back and committing assault thereby risking arrest.
Binding. He shouldn't have let people take possession of the coin and stated an offer. Very risky. Dammit that would have been funny as hell.
Silver coins will be a much more effective exchange medium. Gold will be so high in value relative to the dollar that unless you are buying a lear jet it just doesn't make sense.
It has been said that after the banksters were done with Argentina and small stash of gold could buy the country itself.
An ounce of silver will buy a truckload of groceries or other items. Practical, survival items.
Silver will also appreciate at a higher rate vs the dollar. I love Gold, but love silver even more.
In our lifetime, before the complete destruction of the dollar as a currency, you will be able to fill a room with a million hundred dollars bills and still not equal the value of a silver coin.
I'll do better than that! I'll give you $100 for your 1oz coin! I wish I was there. I can understand that people probably thought it was fake or a scam of some kind. People dont ask that question on a normal day. What until SHTF and everyone will know what gold is and what its worth. SIlver will be much easier for small trades.
When someone tells you the dollar will never go away remind them that the dollar is the USA's third currency and that historical ALL fiat currencies have failed. There are no exceptions.
He was a bit of a gloat(delusions of grandeur?) and didn't really make any attempt to spread some TRUTH or just knowledge in general. The idea wasn't bad, but his intentions were self-serving. Silver is much more liquid and to me more practical for trade. However, its practicality is dependent on the relative stability of civil society and the rule of law. Days bf Katrina hit, (100mi from N.O.) the shelves of EVERY walmart,target,homedepot,etc were emptied of food,water,batteries and everything else. Gas stations were emptied as soon as they had been filled(this contiued for weeks). A gallon of water for a stranded person could save your life before an ounce of gold.
Gary, in places like Argentina and Zimbabwe, people learn about PMs _after_ the currency collapses, and they learn _fast_. People don't know now because they don't need to.
If you're convinced the US is headed into such territory, consider buying a bag of low carat plain gold rings for barter. An Argentinian who blogged about the collapse listed these as something he wished he had if he had known what was coming. Much more useful than a 24 carat gold coin if dealing with the general public.
Since the same players that conspired to crash Angentina's economy are the same ones who are slowly working to do the same to the USA, a study of what happened in Argentina is a must.
Exact same scenario. We are just a bigger animal and harder to take down.
Someone tried to sell my parents a diamond ring once for 50 bucks. You know what they say, if it sounds too good to be true it probably is. These people are trying to avoid getting scammed or are just avoiding being filmed by the camera. Stop acting like the world are idiots simply because they are not "gold-smart" like you are.
I gave up on the average American years ago. What I find the most disturbing/distressing is that there are so may folks out there, like all of you (an myself) on this site, that see the "bridge is out ahead" and yet the passengers on this runaway train, when you try to warn them, laugh at you/us (on a good day - on a bad they get downright nasty). How is that so many people can see what's coming and yet so many more REFUSE to see...?
I can confirm that, having lived and worked with Americans for decades, even this video does not measure the full depth of the general ignorance and voluntary stupidity of the average American. Publically they are totally consumed with sports scores, celebrity gossip and new car advertisements. Privately they are obsessed with pornography and recreational drugs/sex. Older and sickly Americans obsess with health care to cure self-inflicted diseases contracted from risky behaviors (consumption of genetically modified fast foods, anonymous sex, smoking corporate trash cigarettes, TV couch potatoing). The bottom line is that Americans have a distorted sense of what is worthless, and what is valuable. They have no use for history and even less for reality. So ends one of the greatest empires on Earth - destroyed not by bombs, but careless ease.
My wife is a cashier at the "Golden Arches". Some idiot handed her a genuine 1922 silver dollar as partial payment for a burger. She accepted the payment, then put a dollar bill into the till and the silver in her purse. Most people really are that ignorant of cold hard cash.
There's a powerful operant conditioning here at work. Many people are subconsciously afraid to possess gold. They think possessing gold is sinful somehow. I know you're thinking I'm wrong, that no such thing is at work, but I've carefully dissected the entirety of my modern education in the world and seen clearly among the fnordes.
The PTB have subconsciously conditioned the common folk away from the the concept that gold is money, that gold is desirable, that gold is a storehouse of value unmitigateable by the whims of time and change.
However, all that operant conditioning will go right out the window as soon as real hyperinflation kicks in. Then the people will suddenly 'realize' again that gold and silver, hard commodities, are in fact actual money. It will be too late for them.
12:18, I agree with you. My dumbed down TV watching father, who HAD a portfolio of $500K+ 2 years ago, is now worth around $300K. I told him to sell and buy gold and silver. He would not hear of it. Had he sold some of his stocks and bought gold and silver, his portfolio would not be in the red. Same case with my brother in law, won't think of buying gold and silver in place of his precious mutual funds.
The extreme psychological effects from watching TV and reading print newspapers needs to be taken seriously. I stopped watching TV several years ago and found myself living in a totally different reality than the "TV People". They seem to have lost their ability to critically think or think logically.
If someone walked up to me right now and offered to sell me validated gold coins for $50 each I'd buy $100,000 worth before he figured out what was going on and yes I have the cash, no BS!
I never get a break like that, $50 for a ounce of gold, Yahooooo!
As we can see gold is worthless on the street. Come to think about it, it really is only good for overpriced jewelry, dentists and speculators. The only reason it's expensive is because it is somewhat rare therefore all which is rare is very valuable but wait, there are so many rare items in the world which makes rare items less worth which explains the fact why these very "smart" folks would not buy this worthless Canadian gold piece!!!! for even a cup of COFFEE!
Anon at 2:25 all this shows is that people think they are getting scammed by this guy who talks like a car salesman and has a cam in their face. Most of those people would snatch that coin up if it was for sale at 50 bucks at a retailer or online. They probably think he's trying to sell them a fake coin.
Dont worry, if you are stranded and need water to live, it wont cost you gold. Just ask and I'll give you some. Not everyone will be so cut-throat after the collapse. Cautious, but not cut-throat.
Not one person asked if it was a fake. Not one person negotiated. Not one person called him out on this coin. Nobody even asked to examine it. Forget the person trying to sell the coin. Examine the coin and see if it was real. Nobody.. not a soul. Rick Mercer asked years ago many questions about CANADA and not even Bush could answer them. Prime Minister Poutine? Bush: Yes I would like to talk to him. Simpletons.
If it were fake and he were really trying to sell it, do you think ASKING if it's fake is really ,in general, the prudent thing to do? Don't be a goofball.
If he would have taken credit cards people would line up and started bidding the asking price upwards. These smocks do not have two nickels to rub together in their pockets but are too embarrassed to admit it.
I think it was Ole' Zbigniew Brz. who wrote (Between Two Ages) that in the near future people (those hypnotized by Television and programmed in the Puhhblic SCool system) would lose the ability to think for themselves. Obviously we passed that stage decades ago. Circuses and bread seemed to do the trick just fine, but shit today people can watch the circus in 1080i. What a life? While America burns, the sheeple continue to graze from the poison fields of slick propaganda and commercialized idiocracy.
"An ounce of silver will buy a truckload of groceries or other items. Practical, survival items."
No, it will not. An Ounce of Silver will buy about the same amount of goods after the dollar's collapse as it does today. Precious metals don't appriecate in value. they remain static. Its the paper currencies that lose value. You're fooling yourself if you believe that a small stash of silver coins will afford you the lifestyle of a king.
Today a 1 Ounce Silver coin would buy less than $20 worth of goods. Perhaps that's a couple of gallons of milk, a dozen eggs, and a couple of boxes of cereal. Fast forward to when the dollar falls so that a 1 Once Silver coin is $1000 dollars. It still will only afford you a couple gallons of milk, a dozen eggs and a couple boxes of cereal. It will cost a $1000 USD to buy those items. Thats assuming that you can find those items in stores, since during periods of high inflation, food and other items become in short supply. Its likely that because of shortages, your ounce of silver will buy less goods than it does today.
There are other factors to consider though. First is the artificially low pricing of silver. Second will be the realization that silver supply is lower than conventionally thought. And third will be the increased demand in silver, all of which will push the value up regardless of the value of the dollar. But otherwise, you are correct.
When deflation occurs for CERTAIN ITEMS such as REAL ESTATE, perhaps 100 oz of SILVER will buy you a nice house or a car. Inflation for food and fuel while other items will be deflated. SILVER PRICES will become INFLATED to buy deflated ITEMS
"When deflation occurs for CERTAIN ITEMS such as REAL ESTATE, perhaps 100 oz of SILVER will buy you a nice house or a car. Inflation for food and fuel while other items will be deflated. SILVER PRICES will become INFLATED to buy deflated ITEMS"
Deflation isn't going to happen. The Fed has made that very clear that it will not permit deflation.
You're not going to be able to buy a house with 100 ounces of silver, unless its very crappy house that needs be torn down. The gov't is buying up trillions in mortgage debt to prevent a housing price collapse. While housing prices will fall for years if not a decade, it won't fall to the point you can pick up homes for nothing. Also don't forget that states and local gov't are jacking up property taxes.
Food and Fuel prices will inflate, not deflate. This is because as more and more business and suppliers fail because of the collapsing economy, there will be shortages of consumpable items. Consider what happens when a Farmer is bankrupted off his land. The land will sit idle for years as nobody has money to buy and and nobody wants to farm it.The average age of US farmers is now over 60 years old. Younger folks aren't continuing in their parents footstep to take over farming business. Most younger folks left the farm and moved into cities to find higher paying jobs.
The Fuel situation isn't much better shape, since global oil production peaked, and the US now imports about 75% of its oil. As the Dollar weakers more Oil will flow to other parts of world and the US will experience Oil Shocks worse than the 1970's. Waving a few ounces of Silver will not bring a supertanker to the US so you can buy fuel. Fuel will be rationed and it become very expensive, even priced in PM's.
Finally also don't forget that there is a 30% capital gains tax on PMs. Perhaps you can avoid this by bartering, but any large transactions will certainly be scrutinized by the tax collectors. Paying for a home or car or some other major purchase using PM's will include PM Capital Gains tax for sure.
Geez! They are dumber than rocks...Completely Brain Dead!
ReplyDeleteWait till they find out the dollar is worthless...
It is going to be interesting watching people go to fill up their gas tanks spending $200 for a 10 gallon tank and that will be for only 4 days if own an SUV.
Milk will be given up at some point. I figure $65 dollars for a gallon will be the straw the breaks the camel's back. But the real surprise will be Orange Juice. That will fly to at least $99 a gallon.....and those will be early 2010 prices.
Oh and the Govt will take a full 20% per month right off the bat for your socialized health care medicine.
I get white knuckles thinking about 2011 when those Cap N' Tax Global Warming taxes roll in. They are going to tax everything including air.
These brain dead people will be kicking themselves wishing they had spent the $50 bucks for a gold canadian coin worth 1100 US.
Yes folks Americans really are this deceived and deluded.
ReplyDeleteRemember that only <2% of Americans are wise enough to own any gold bullion/coins.
ReplyDelete@11:32 AM
ReplyDeleteWhat do you mean if it's legit? Don't you believe your own eyes? Are you brain dead too?
"Don't you believe your own eyes?"
ReplyDeleteNo; If I go into a gold shop, they'll make sure what I'm giving them is gold, etc...
Just cashed out my measely 401K and am buying silver with it. Had to do something with it anyway since I switched jobs.
ReplyDeleteIf he is still selling...I will pay him $900 for it. Get me his number...
ReplyDeleteBack when gold was $688.00 I converted my most of my dollar savings. It was a scary thing to do because I read from the 'experts' that gold would never, ever go above $700 and stay there.
ReplyDeleteI learned about fiat money and when it really was, and how debt works via the banks
oh its legit... Most Americans are still selling their gold for cash. Therefore, and for those who thinks gold is at its highs, we ain't seen nothin' yet.
ReplyDeleteMark Dice has so much knowledge, but sadly he is a douchbag. He likes to flaunt that smug attitude about what he knows about 9/11, the Fed and such; all true, but then he'll bring up Jesus. Geezus. The biggest elite fraud of them all. Same pattern as Alex Jones. Tons of truth mixed in with cartoonish ignorance.
ReplyDeleteI knew the first time I saw him bum rush a group of Mormons to tell them how stupid they were (they are) that he would soon reveal his own delusions.
Truthers. Good people. But what truthers don't understand is that none of us know 100% truth and have it all correct. We all cling on to certain lies and socially structure behaviors that are so subtle, they squeak by unnoticed.
That is why a little humility goes a long way. Mark has none.
For those who doubt the value of precious metals, just try to remember a history lesson. What’s the difference in value of the Russian paper currency of 1905 and its platinum coin? With paper money you can probably wipe your a$$ (unless you’re a numismatist) – that’s all it is good for, but the platinum (1oz) coin is worth $1361 as of right now. Based on how things are developing, US dollar (as many other currencies) is to replace the czarist rubble in the washrooms throughout the world. In other words we are going to have quite a selection of exotic toilet paper.
ReplyDeleteI may have to rethink my strategy of collecting gold and silver bullion to use for bartering after the dollar collapses. People are waaaay less informed that I thought, and that is saying something. Obviously, the fiat money magic spell has been very effective and will not be broken easily. They are going to be VERY ANGRY when the dollar collapses.
ReplyDeleteToo bad I wasn't the guy he handed the coin to at arm's length when he stated he was offering to sell the coin for $50.
ReplyDeleteI would have immediately handed him $50 and said I agree to the offer.
Cash and the item would have changed hands, done deal.
That would have been a hilarious backfire. I don't think Mark would have been able to do anything about it short of robbing the coin back and committing assault thereby risking arrest.
Binding. He shouldn't have let people take possession of the coin and stated an offer. Very risky. Dammit that would have been funny as hell.
3:23 I was thinking the exact same thing when I first watched it. Would have ended his show right away..lol
ReplyDeleteSilver coins will be a much more effective exchange medium. Gold will be so high in value relative to the dollar that unless you are buying a lear jet it just doesn't make sense.
ReplyDeleteIt has been said that after the banksters were done with Argentina and small stash of gold could buy the country itself.
An ounce of silver will buy a truckload of groceries or other items. Practical, survival items.
Silver will also appreciate at a higher rate vs the dollar. I love Gold, but love silver even more.
In our lifetime, before the complete destruction of the dollar as a currency, you will be able to fill a room with a million hundred dollars bills and still not equal the value of a silver coin.
Imagine a gold coin.
I'll do better than that! I'll give you $100 for your 1oz coin! I wish I was there. I can understand that people probably thought it was fake or a scam of some kind. People dont ask that question on a normal day. What until SHTF and everyone will know what gold is and what its worth. SIlver will be much easier for small trades.
ReplyDeleteWhen someone tells you the dollar will never go away remind them that the dollar is the USA's third currency and that historical ALL fiat currencies have failed. There are no exceptions.
ReplyDelete3:34 - after SHTF all you would have heard is a bang. No $50 required lol.
ReplyDeleteHe was a bit of a gloat(delusions of grandeur?) and didn't really make any attempt to spread some TRUTH or just knowledge in general. The idea wasn't bad, but his intentions were self-serving.
ReplyDeleteSilver is much more liquid and to me more practical for trade. However, its practicality is dependent on the relative stability of civil society and the rule of law. Days bf Katrina hit, (100mi from N.O.) the shelves of EVERY walmart,target,homedepot,etc were emptied of food,water,batteries and everything else. Gas stations were emptied as soon as they had been filled(this contiued for weeks). A gallon of water for a stranded person could save your life before an ounce of gold.
Yep. That is why one should have food, water, medicine, bullets THEN PMs, not before.
ReplyDeleteGary, in places like Argentina and Zimbabwe, people learn about PMs _after_ the currency collapses, and they learn _fast_. People don't know now because they don't need to.
ReplyDeleteIf you're convinced the US is headed into such territory, consider buying a bag of low carat plain gold rings for barter. An Argentinian who blogged about the collapse listed these as something he wished he had if he had known what was coming. Much more useful than a 24 carat gold coin if dealing with the general public.
Since the same players that conspired to crash Angentina's economy are the same ones who are slowly working to do the same to the USA, a study of what happened in Argentina is a must.
ReplyDeleteExact same scenario. We are just a bigger animal and harder to take down.
The real enemies of the US don't wear turbins. They wear $3k Armani suits.
ReplyDeleteSomeone tried to sell my parents a diamond ring once for 50 bucks. You know what they say, if it sounds too good to be true it probably is. These people are trying to avoid getting scammed or are just avoiding being filmed by the camera. Stop acting like the world are idiots simply because they are not "gold-smart" like you are.
ReplyDeleteVery true 1:59, who's going to trust a jerk with a microphone selling _anything_?
ReplyDeleteEven if you knew the price of gold you'd probably assume it was a fake coin if solicited in this fashion.
3:09,,,....not so much.... just like they used to do back in the day..... bite the coin. if its real gold, it will dent easily. no dents, its fake...
ReplyDeleteI gave up on the average American years ago. What I find the most disturbing/distressing is that there are so may folks out there, like all of you (an myself) on this site, that see the "bridge is out ahead" and yet the passengers on this runaway train, when you try to warn them, laugh at you/us (on a good day - on a bad they get downright nasty). How is that so many people can see what's coming and yet so many more REFUSE to see...?
ReplyDeleteOne word. No, two words. Toilet Paper. I think toilet paper can potentially be more valuable than gold, and it's easy to see it's authenticity.
ReplyDeleteJust sayin'...
I can confirm that, having lived and worked with Americans for decades, even this video does not measure the full depth of the general ignorance and voluntary stupidity of the average American. Publically they are totally consumed with sports scores, celebrity gossip and new car advertisements. Privately they are obsessed with pornography and recreational drugs/sex. Older and sickly Americans obsess with health care to cure self-inflicted diseases contracted from risky behaviors (consumption of genetically modified fast foods, anonymous sex, smoking corporate trash cigarettes, TV couch potatoing). The bottom line is that Americans have a distorted sense of what is worthless, and what is valuable. They have no use for history and even less for reality. So ends one of the greatest empires on Earth - destroyed not by bombs, but careless ease.
ReplyDeleteMy wife is a cashier at the "Golden Arches". Some idiot handed her a genuine 1922 silver dollar as partial payment for a burger. She accepted the payment, then put a dollar bill into the till and the silver in her purse. Most people really are that ignorant of cold hard cash.
ReplyDeleteThere's a powerful operant conditioning here at work. Many people are subconsciously afraid to possess gold. They think possessing gold is sinful somehow. I know you're thinking I'm wrong, that no such thing is at work, but I've carefully dissected the entirety of my modern education in the world and seen clearly among the fnordes.
ReplyDeleteThe PTB have subconsciously conditioned the common folk away from the the concept that gold is money, that gold is desirable, that gold is a storehouse of value unmitigateable by the whims of time and change.
However, all that operant conditioning will go right out the window as soon as real hyperinflation kicks in. Then the people will suddenly 'realize' again that gold and silver, hard commodities, are in fact actual money. It will be too late for them.
12:18, I agree with you. My dumbed down TV watching father, who HAD a portfolio of $500K+ 2 years ago, is now worth around $300K. I told him to sell and buy gold and silver. He would not hear of it. Had he sold some of his stocks and bought gold and silver, his portfolio would not be in the red. Same case with my brother in law, won't think of buying gold and silver in place of his precious mutual funds.
ReplyDeleteThe extreme psychological effects from watching TV and reading print newspapers needs to be taken seriously. I stopped watching TV several years ago and found myself living in a totally different reality than the "TV People". They seem to have lost their ability to critically think or think logically.
Stay away from ALL TV and newspapers...
If someone walked up to me right now and offered to sell me validated gold coins for $50 each I'd buy $100,000 worth before he figured out what was going on and yes I have the cash, no BS!
ReplyDeleteI never get a break like that, $50 for a ounce of gold, Yahooooo!
As we can see gold is worthless on the street. Come to think about it, it really is only good for overpriced jewelry, dentists and speculators. The only reason it's expensive is because it is somewhat rare therefore all which is rare is very valuable but wait, there are so many rare items in the world which makes rare items less worth which explains the fact why these very "smart" folks would not buy this worthless Canadian gold piece!!!! for even a cup of COFFEE!
ReplyDeleteAnon at 2:25 all this shows is that people think they are getting scammed by this guy who talks like a car salesman and has a cam in their face. Most of those people would snatch that coin up if it was for sale at 50 bucks at a retailer or online. They probably think he's trying to sell them a fake coin.
ReplyDeleteDont worry, if you are stranded and need water to live, it wont cost you gold. Just ask and I'll give you some. Not everyone will be so cut-throat after the collapse. Cautious, but not cut-throat.
ReplyDeleteNot one person asked if it was a fake. Not one person negotiated. Not one person called him out on this coin. Nobody even asked to examine it. Forget the person trying to sell the coin. Examine the coin and see if it was real. Nobody.. not a soul.
ReplyDeleteRick Mercer asked years ago many questions about CANADA and not even Bush could answer them. Prime Minister Poutine? Bush: Yes I would like to talk to him. Simpletons.
If it were fake and he were really trying to sell it, do you think ASKING if it's fake is really ,in general, the prudent thing to do? Don't be a goofball.
ReplyDeleteIf he would have taken credit cards people would line up and started bidding the asking price upwards. These smocks do not have two nickels to rub together in their pockets but are too embarrassed to admit it.
ReplyDeleteLol, I think you try to force people into your simple worldview too hastily. But hey, whatever makes you feel good about yourself.
ReplyDeleteI think it was Ole' Zbigniew Brz. who wrote (Between Two Ages) that in the near future people (those hypnotized by Television and programmed in the Puhhblic SCool system) would lose the ability to think for themselves. Obviously we passed that stage decades ago. Circuses and bread seemed to do the trick just fine, but shit today people can watch the circus in 1080i. What a life? While America burns, the sheeple continue to graze from the poison fields of slick propaganda and commercialized idiocracy.
ReplyDeleteOk, true, but what does that have to do with gold?
ReplyDeleteWhoever is powerlessly swayed by watching any or all TV or reading a newspaper SHOULD stay away from them at all costs...
ReplyDelete"An ounce of silver will buy a truckload of groceries or other items. Practical, survival items."
ReplyDeleteNo, it will not. An Ounce of Silver will buy about the same amount of goods after the dollar's collapse as it does today. Precious metals don't appriecate in value. they remain static. Its the paper currencies that lose value. You're fooling yourself if you believe that a small stash of silver coins will afford you the lifestyle of a king.
Today a 1 Ounce Silver coin would buy less than $20 worth of goods. Perhaps that's a couple of gallons of milk, a dozen eggs, and a couple of boxes of cereal. Fast forward to when the dollar falls so that a 1 Once Silver coin is $1000 dollars. It still will only afford you a couple gallons of milk, a dozen eggs and a couple boxes of cereal. It will cost a $1000 USD to buy those items.
Thats assuming that you can find those items in stores, since during periods of high inflation, food and other items become in short supply. Its likely that because of shortages, your ounce of silver will buy less goods than it does today.
There are other factors to consider though. First is the artificially low pricing of silver. Second will be the realization that silver supply is lower than conventionally thought. And third will be the increased demand in silver, all of which will push the value up regardless of the value of the dollar. But otherwise, you are correct.
ReplyDeleteWhen deflation occurs for CERTAIN ITEMS such as REAL ESTATE, perhaps 100 oz of SILVER will buy you a nice house or a car. Inflation for food and fuel while other items will be deflated. SILVER PRICES will become INFLATED to buy deflated ITEMS
ReplyDeleteGood point
ReplyDelete"When deflation occurs for CERTAIN ITEMS such as REAL ESTATE, perhaps 100 oz of SILVER will buy you a nice house or a car. Inflation for food and fuel while other items will be deflated. SILVER PRICES will become INFLATED to buy deflated ITEMS"
ReplyDeleteDeflation isn't going to happen. The Fed has made that very clear that it will not permit deflation.
You're not going to be able to buy a house with 100 ounces of silver, unless its very crappy house that needs be torn down. The gov't is buying up trillions in mortgage debt to prevent a housing price collapse. While housing prices will fall for years if not a decade, it won't fall to the point you can pick up homes for nothing. Also don't forget that states and local gov't are jacking up property taxes.
Food and Fuel prices will inflate, not deflate. This is because as more and more business and suppliers fail because of the collapsing economy, there will be shortages of consumpable items. Consider what happens when a Farmer is bankrupted off his land. The land will sit idle for years as nobody has money to buy and and nobody wants to farm it.The average age of US farmers is now over 60 years old. Younger folks aren't continuing in their parents footstep to take over farming business. Most younger folks left the farm and moved into cities to find higher paying jobs.
The Fuel situation isn't much better shape, since global oil production peaked, and the US now imports about 75% of its oil. As the Dollar weakers more Oil will flow to other parts of world and the US will experience Oil Shocks worse than the 1970's. Waving a few ounces of Silver will not bring a supertanker to the US so you can buy fuel. Fuel will be rationed and it become very expensive, even priced in PM's.
Finally also don't forget that there is a 30% capital gains tax on PMs. Perhaps you can avoid this by bartering, but any large transactions will certainly be scrutinized by the tax collectors. Paying for a home or car or some other major purchase using PM's will include PM Capital Gains tax for sure.
The Fuel situation isn't much better shape.
ReplyDelete***************
olivia
Cash For Gold Colchester