09-04-2022, 03:15 PM
(09-03-2022, 08:55 PM)Snarl Wrote:(09-03-2022, 10:32 AM)Michigan Swamp Buck Wrote: I agree with NightSkye, you can't eat precious metals and the black market will determine the price. Barter will be the best route IMO.
Me too, but ...
I have quite an investment in precious metals. Why? The gooberment can't get at it. My kids will get it with no inheritance tax.
Thing about gold ... it's value always returns. Bad trade stuff as barter to be sure ... but as collateral, almost nothing holds a better value.
I think we are going to get down to beans, bullets and bandages. Once we start down that slope it probably won't take long to reach the bottom. How long we stay at the bottom is what will really matter.
If you have PMs as an insurance policy and just sit on it, the government will come after you as a hoarder or a black marketeer and confiscate it. They will take everything you have (food, supplies, PMs, what ever you have) if they can find it, for the greater good, ie. for the good of the government and those in power. Look what happened in Venezuela . . .
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Plus, they did it here in the U.S. in 1933.
Quote:During extreme crises, governments can also seize people’s gold. There have been some stunning examples of “gold confiscation” in the past. Most memorably, this occurred in the US in 1933 during the great depression – albeit it’s more accurate to call it a nationalisation than a confiscation, since citizens were compensated. The government of Franklin D Roosevelt seized all gold bullion and coins via Executive Order 6102, forcing citizens to sell at well below market rates. Immediately after the “confiscation”, the government set a new official rate for gold that was much higher as part of the Gold Reserve Act 1934.
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Another LINK