Gold. Is it any use?

[Me_Again]

(10 December 2013, 12:50)NorthernRaider Wrote: Gold and Silver are almost universally accepted as being valuable right across the world thus permitting bartering for goods and services to be made much easier than transports twn tons of logs to exchange for 6 goats, 3 pigs and a few slaves. SILVER is easier to use as a currency because its less valuable than gold its why many preppers and survivalists keep a selection of mini ingots and coins as a trading commodity.

Saying that though many preppers also find 22.LR and 5.56 ammo is nearly as valuable as a trading currency.

As I said, silver in the UK attracts a 20% surcharge so I'll stick with gold in small denoms 5g, 10g.
Agree re the ammo but haven't got a gun. Won't have one until I relieve someone of it after the the bang.

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(10 December 2013, 14:42)Mortblanc Wrote: Gold/silver price is not separate from the economy and controlled by the deity.

The price is set in London twice daily by real live humans.

http://en.wikipedia.org/wiki/Gold_fixing

Gold is and always has been owned at the discretion of the government in power at the moment. They can seize gold at will and/or transfer its ownership through accepting only gold or silver as payment for government debts such as taxes or license/permit fees.

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The presence of foreign gold in Fort Knox is questionable.

The structure is maintained mostly as a monument to the economy and no one seriously believes there is enough gold there to worry with. You can see the structure from the nearby highway, standing in all its gloomy glory.

Most gold in the exchange is kept in the Federal Reserve New York and has been for decades. They move it on carts from room to room as an easy indication of the transfer of wealth.

The people who set the price in London do it based on trading. The way the price has been manipulated down is a measure of the clout that these people have. They are spending now to bring it down, using what will be worthless currency in order to stock up on what will possibly be useful, gold.
Apologies for using Fort Knox, I was just referring to American gold reserves in general. I am not aware whether our gov has plans to seize gold but have heard they could restrict ownership [no doubt to the very rich and the gov] which would instantly boost its value and create a black market for it.
The German gold is real, probably google will lead that thread, but in the fed I expect.

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(10 December 2013, 15:14)bigpaul Wrote: my thoughts on gold(and silver ) are that post collapse "you cant eat gold", I'd rather have a larder full of tins than 100 gold bars, but I'm SURE "someone else" (HE who knows everything) will tell me otherwise!!!

Totally agree, but if you have both then you're quids in.

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(10 December 2013, 16:29)CharlesHarris Wrote: Your situation in UK is quite different than ours in the US.

Having some gold is OK, but I would not put a deal deal of effort into doing so until I already had a year's supply of food put away, along with other important preps, such as heirloom seeds, gardening tools, medicines and supplies such as batteries, blankets, warm clothing, extra eyeglasses, sturdy boots, a well built off-road bicycle, etc., etc.

Like the man says, you cannot eat gold. If the smallest gold denomination you have is 1 oz., then that is whatever your car repair, etc. is going to cost.

Here in the US they issued silver coinage until 1964. Rural merchants here now will take pre-64 US silver coinage for its equivalent value based on the inflation calculator: http://www.usinflationcalculator.com/

For instance, an item purchased for $100 in 1964 today in current dollars would cost $753.37, for an inflation of 653.4% over that time.

So a pre-1964 silver 25 cent piece is currently woirth $1.88 and a silver 10 cent piece is 75 cents!

Haven't the foggiest idea how to reconcile new pence vs. old pence, but I'll wager a WW2 era solid Sovereign is mighty serious money!

Agree re the rest of the prepping but when you have that, it would be worth having some. As for denominations I guess we are in luck here then since we went metric. Slivers of gold in 5g = 1/6 of an ounce [ish] packets are available. market worth around £145 at the moment, so yes you are stuck by your smallest denomination.

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(10 December 2013, 16:35)Midnitemo Wrote: Its either buy a little precious metal or by stores and kit right now....no brainer for me! not saying i wouldn't like a small stockpile of gold and silver its just way way down the list of priorities.

Totally understood but I've been at this a few years so I have the basics sorted and so I was just offering up the idea.