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Thread: Investing in precious metals

  1. #21
    Join Date
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    Some of the earlier posts on this thread seem to suggest making precious metals part of a survival kit? Am I right on this? Wouldn't it make more sense to store precious metals in a safe deposit box at the bank?
    Any society that would give up a little liberty to gain a little security will deserve neither and lose both.

    Benjamin Franklin

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  3. #22
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    If the bank is closed...

    Quote Originally Posted by tattedupboy View Post
    Some of the earlier posts on this thread seem to suggest making precious metals part of a survival kit? Am I right on this? Wouldn't it make more sense to store precious metals in a safe deposit box at the bank?
    If the bank is closed...You can't get to your stuff. NEVER trust someone else with anything you may need under dire consequences. When the NAZI party took over germany during WWII the first thing they did was seize ALL jewish assets in banks and businesses. The same is true of the BATH party in Iraq. They took over all SUNNI assets and that just ain't right. They can't take what you don't give them. Don't get me wrong, I use banks for checking and savings, but I do not store anything that I will incorporate into a bug out kit anywhere but the same location as the kit.
    FESTUS
    IN OMNIA PARATUS

  4. #23
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    Too true, Festus....

    Any gold that you have would be much better secured somewhere..... private. I think that burying it is a great idea. Since gold is non-reactive, you don't have to worry about moisture or oxidation. Throw it in a plastix box, or even a baggy, and stick it out somewhere no one is likely to be checking with a metal detector.

    Remember, even the United States government outlawed gold. Immediately afterward, the government seized all gold in all banks and gave the institutions and individuals paper currency instead. The year? 1933. What happened almost immediately? The dollar took a dive. Thus, the net result was that the government stole much of the value of U.S. citizens holdings. Thanks, FDR. Hmmmm, FDR; massive public works program, governmental "redistribution" of wealth, private gold confiscation, agricultural subsidies that have killed the small farms, ending of the gold standard which allowed inflation, wrote and passed the National Industrial Recovery Act which allowed large corporations to obtain and protect near monopolies and discourage new companies from competing, created the beloved Fed (FDIC), established unions, established mandatory Social Security (which most of us on this board will never see), established the "wealth tax" taxing the wealthiest at a rate of 79% (their fair share?), tried to illegally and unconstitutionally change the makeup of the supreme court because they kept ruling his legislation as unconstitutional, and created the agencies that would eventually become "Fannie Mae" and "Freddy Mac".

    Sound familiar?

    By the way, the gold law was overturned in 1974. For now, anyway. Also, to those who would council waiting until the dollar is stronger to buy gold, I would counsel you reconsider. Although correct in stating that a stronger dollar will buy more, that is only if demand remains fixed. Unfortunately, now that China has cast off the U.S. dollar as their currencies foundation, they have begun pondering purchasing gold stockpiles to back up their currency. If/when that happens, gold prices will go into the stratosphere. If you can afford it now, and you have your other ducks in a row, then go ahead and get it.

  5. #24
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    Quote Originally Posted by tattedupboy View Post
    Some of the earlier posts on this thread seem to suggest making precious metals part of a survival kit? Am I right on this? Wouldn't it make more sense to store precious metals in a safe deposit box at the bank?
    If you're going to bother getting it, you should keep it for its survival value in your survival kit. If you're putting it in a SD box at the bank, it becomes an investment.

    BTW, if TSHTF and you had to get your gold out of the bank...you might need to pick some locks to get at it.
    Silent Running, by Mike and the Mechanics

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