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+--- Thread: Gold. Is it any use? (/showthread.php?tid=6380)
RE: Gold. Is it any use? - Scythe13 - 10 December 2013
History is doomed to repeat itself.
In regard to our 10'000 year history, think about Gold and Silver, and how it's been regarded.
Need I say more?
If I do need to say more, did the collapse of the Mayan's, Inca, Hungarians, Mongolians, Roman, or any other civilisation, effect how human nature, since the dawn of time, has looked at Gold and Silver?
Another collapse, based on debased (unhinged to Gold and Silver) currency, will not overturn 10'000 years of human nature.
RE: Gold. Is it any use? - Timelord - 10 December 2013
Your point is??
RE: Gold. Is it any use? - Me_Again - 10 December 2013
Fair points. I don't think I'd bee taking out adverts if I had some stashed. But as an emergency option I think it a wise one.
Wasn't aware I needed a point. Just thought that considering how low gold is now, people wishing to buy some should give serious consideration.
(10 December 2013, 22:41)Timelord Wrote: Your point is??
(10 December 2013, 22:52)Me_Again Wrote: Fair points. I don't think I'd be taking out adverts if I had some stashed. But as an emergency option I think it a wise one.
RE: Gold. Is it any use? - Timelord - 10 December 2013
The question of "what the point is", was directed at Scythes previous post. I understand what he is saying but over the 10,000 years he mentions, then precious metals have been useful at times and then not at others. It is a bit of a general long term millennia study to base ones PSHTF plans on. ie, the gaps between when gold/silver is any use and when it is not are a bit sporadic, especially in relation to societal upheavals over 10,000 years.
RE: Gold. Is it any use? - Scythe13 - 11 December 2013
The years before and after a collapse have seen PM's at high levels. During the collapse...we cannot say, because the extent of the collapse is undecided/unknown. But years afterwards, they will be valuable again.
If there is some semblance of government and laws, as we know them, then I foresee PM's as important, immediately post-SHTF. Ultra valuable.
PM's have always been tradable and deemed as having value, in 97% of societies (some jungle tribes are the exception, along with Oz native aborigines) this has held true through history. The only other times gold has been 'useless' is when governments called in gold deposits, like the US did. But even then something like 12% was recalled from the general public. It was useless in stores and for exchange, but the underground markets loved the stuff!!!
That's just an idea of how things will be. If it's recalled, it'll have value. Post collapse, it'll have value. During the collapse, the value will be completely dependant on the size, scale, speed and style of collapse.
RE: Gold. Is it any use? - Me_Again - 11 December 2013
Sorry. Am not used to this thread control yet.
things seem to appear all over
Succinct and valuable reply.
But I'm biased. That was my assessment too.
(11 December 2013, 00:49)Scythe13 Wrote: The years before and after a collapse have seen PM's at high levels. During the collapse...we cannot say, because the extent of the collapse is undecided/unknown. But years afterwards, they will be valuable again.
If there is some semblance of government and laws, as we know them, then I foresee PM's as important, immediately post-SHTF. Ultra valuable.
PM's have always been tradable and deemed as having value, in 97% of societies (some jungle tribes are the exception, along with Oz native aborigines) this has held true through history. The only other times gold has been 'useless' is when governments called in gold deposits, like the US did. But even then something like 12% was recalled from the general public. It was useless in stores and for exchange, but the underground markets loved the stuff!!!
That's just an idea of how things will be. If it's recalled, it'll have value. Post collapse, it'll have value. During the collapse, the value will be completely dependant on the size, scale, speed and style of collapse.
Haven't worked out yet whether to reply to the poster or use the box at the bottom. Who cares? anyway, a succinct and valuable reply. That was my assessment.
GOOD time to buy!
RE: Gold. Is it any use? - Midnitemo - 11 December 2013
Since interest rates fell to there lowest a while back I've been overpaying my mortgage by about £250 a month in an effort to get ahead of the game,been watching the gold market wondering if maybe I should be buying a soverign every month and squirreling it away instead, after all if theres a run on gold like there was a little while ago I could convert and pay off a lump sum.....still undecided....not much of a gambler really.
RE: Gold. Is it any use? - bigpaul - 11 December 2013
(10 December 2013, 22:38)Scythe13 Wrote: History is doomed to repeat itself.
only if you let it.(those who ignore-the mistakes of-) history are deemed to repeat it
RE: Gold. Is it any use? - Me_Again - 11 December 2013
(11 December 2013, 07:49)Midnitemo Wrote: Since interest rates fell to there lowest a while back I've been overpaying my mortgage by about £250 a month in an effort to get ahead of the game,been watching the gold market wondering if maybe I should be buying a soverign every month and squirreling it away instead, after all if theres a run on gold like there was a little while ago I could convert and pay off a lump sum.....still undecided....not much of a gambler really.
Martin Lewis of 'Martin's Money' did a bit on mortgages a while ago. He said something like there's no point in saving -other than to have a 'whatever happens' fund- when you have a mortgage. I think you are smart to overpay when you can. I recall writing a little computer program years ago that worked out how many years you knock off by over paying x, amount y amount and so on. I seem to recall that an overpayment of something like 10 or 15% knocked nearly a decade off a standard 25 year mortgage, and the higher the % the more rapidly, in an exponential line, it paid off.
I paid mine off about 12 years ago and what a day that was -directly as a result of listening to Lewis on the Jeremy Vine show or something - then I started saving the equivalent of the mortgage payments.
Now gold as an investment is a different thing to gold as a hedge against adversity so I don't know whether your plan is a good one. Theoretically it should work but the trick with stocks as well as metals, is buy low sell high, easy in theory -but without a crystal ball ............Like you I am not a gambler -given the forum we are on I suspect very few of us are gamblers since when we look ahead all we see is shit coming down the pipe not a blue sky and nice beach- so I'd probably overpay like you.
Thing is though, what use is owning the place ITSHTF? Not an easy question, I didn't have that problem because I already paid mine off before I had my reality check.
Funnily enough I don't rate coins, I'll tell you why. They are over priced against the weight of the gold in them by about 10%. I reckon that ITSHTF people will just weigh the gold and not give a toss if someone's head is on it. Nowadays the mini gold blocks come in a credit card sized blister pack with weight, serial number, purity and all that on the card so you have the 'bonafides' [which the coin provides by being minted as a coin].
RE: Gold. Is it any use? - Scythe13 - 11 December 2013
(11 December 2013, 10:19)bigpaul Wrote:(10 December 2013, 22:38)Scythe13 Wrote: History is doomed to repeat itself.only if you let it.(those who ignore-the mistakes of-) history are deemed to repeat it
I think that as a species, we are more than willing to let it repeat, time and again.