How Much Gold and Silver Is Needed For Financial Crisis

[Bigmarc]

8 hours ago, SilverStorm said:

I'm glad you mentioned this.   See my post below on a YouTuber's first person commentary about the effects of hyperinflation in his country, which correlates to what you've mentioned.   The only real concern I would have is whether or not a bullion dealer is available to buy back your PM stack for fiat currency in a hyper inflation period. 

Scenario #1: If bullion dealers are around, the question would be if they have enough fiat to buy back your PM. 

Scenario #2: If bullion dealers go out of business, your gold and silver can't be converted into fiat.  Then your PM stack would be useless unless you could barter it (trade PM for goods/services).  IMHO, this last scenario might be the scariest because if the economy crumbles to a barter-only system, the financial/economic collapse would be absolute.    

(sorry, just some miscellaneous ramblings going on in my head lol)

 

 

 

Another good one to look at is Roman Abramovich.

During Russia in the 80s Roman worked as a mechanic and a "street trader". From there he imported rubber ducks and sold them from his apartment. By 1989 when the Berlin wall fell and he turned his rubber duck business in to making dolls and was legitimate this time because the financial boundaries had changed. After this period he used his "street trader" skills and started trading timber, food, sugar and eventually oil. In 1992 he was arrested and sent to prison for stealing government property and in 1996 he moved into an apartment inside the Kremlin on invite from Boris Yeltsin. By this time he was trading in oil and aluminium and was worth billions. In 2003 he bought Chelsea football club with the change in his back pocket for fun. 

Now I know a lot of the story is probably lost in history but the point I am trying to make is that this man made his way trading what people may have needed according to the current financial hardship. Oil and aluminium "probably" didn't come into play until things were on the up. If you were to ask him the question about how to sell gold and silver during this time, what do you think his answer would be? Would you get market value? My thoughts would you would have had to meet him and his henchmen In a alley somewhere to sort out a deal. 

[LawrenceChard]

On 30/07/2021 at 20:13, SilverStorm said:

I apologize if this topic has been covered; I did a quick search and did not find anything similar.    I came across the following information and wanted to share, as I thought it was quite intriguing.

Here's How Much Gold and Silver You Need for the Crises

Most of you reading this are already convinced of the need to own gold and silver. But as you continue to accumulate, a question naturally arises: how much do you need?

Imagine the sick feeling in your gut if we get to the next financial crisis and you suddenly realize you didn’t buy enough bullion to get through it. For this reason alone, it’s worth thinking about how many ounces you might need.

More and more investors are recognizing this, and we receive questions about it. The wording varies, but the basic question is the same: how much physical gold or silver should I own to be in good shape should an economic crisis hit?

Why Traditional Advice is Meaningless in a Crisis

Traditional financial advice is that gold should
If you want $3,000/month, you’ll need 1,800 ounces for one year, or 9,000 if it lasts five years.

Of course, we can use both gold and silver to meet expenses. For $1,000/month, you’ll need nine ounces of gold and 600 ounces of silver to get through a two-year crisis period.

These amounts may look high, but keep in mind that if you don't save in gold and silver now, you'll be forced to spend a whole lot more in currency later.

These tables show how practical gold and silver can be. They really can be used to protect our standard of living — and even improve it if the price of precious metals rises during times of crisis like they have in the past.

So how much gold and silver do you need? I hope these tables show what you need to accumulate.

Quite typical hype from a typical American dealer.

(I presume they are American, but after spending about a minute scanning their linked page, home page, and about us page, I could not find their address to enable my to confirm my guess. I feel sure it will be there somewhere, but that's poor web design, in my opinion)

The writer completely omitted any mention of platinum, possibly because their compnay does not sell much of it.

 

 

[kena]

goldsilver.com appears to be a US site.

I find it a bit odd that don't say where they are located or where their offices are.

Their privacy policy gives an address in California on https://support.goldsilver.com/hc/en-us/articles/216269187-Privacy-Policy while in their support section it gives an Illinois address on https://support.goldsilver.com/hc/en-us/articles/360045366832-Which-address-should-I-use-to-mail-my-check while another question they say their corporate HQ is in New York on https://support.goldsilver.com/hc/en-us/articles/215556968-Where-is-your-office-located-.

If I was potential customer, I would find this ringing some alarm bells.

Some companies that I consider the big kids back home in the USA such as Apmex, Provident Metals, and JM Bullion do give the information about their office without that much poking around.

I also prefer companies that I deal with to give a product at a good price with decent service with clear information of who they are where they are located.  No drama or hype about what I should be buying or how much.   Seems not that much has changed with the hype in my lifetime, I still recall when the Hunt Brothers tried to corner the silver market.

[SilverStorm]

6 hours ago, Bigmarc said:

Another good one to look at is Roman Abramovich.

During Russia in the 80s Roman worked as a mechanic and a "street trader". From there he imported rubber ducks and sold them from his apartment. By 1989 when the Berlin wall fell and he turned his rubber duck business in to making dolls and was legitimate this time because the financial boundaries had changed. After this period he used his "street trader" skills and started trading timber, food, sugar and eventually oil. In 1992 he was arrested and sent to prison for stealing government property and in 1996 he moved into an apartment inside the Kremlin on invite from Boris Yeltsin. By this time he was trading in oil and aluminium and was worth billions. In 2003 he bought Chelsea football club with the change in his back pocket for fun. 

Now I know a lot of the story is probably lost in history but the point I am trying to make is that this man made his way trading what people may have needed according to the current financial hardship. Oil and aluminium "probably" didn't come into play until things were on the up. If you were to ask him the question about how to sell gold and silver during this time, what do you think his answer would be? Would you get market value? My thoughts would you would have had to meet him and his henchmen In a alley somewhere to sort out a deal. 

Thanks for posting this, good to know.

[SilverStorm]

3 hours ago, kena said:

goldsilver.com appears to be a US site.

I find it a bit odd that don't say where they are located or where their offices are.

Their privacy policy gives an address in California on https://support.goldsilver.com/hc/en-us/articles/216269187-Privacy-Policy while in their support section it gives an Illinois address on https://support.goldsilver.com/hc/en-us/articles/360045366832-Which-address-should-I-use-to-mail-my-check while another question they say their corporate HQ is in New York on https://support.goldsilver.com/hc/en-us/articles/215556968-Where-is-your-office-located-.

If I was potential customer, I would find this ringing some alarm bells.

Some companies that I consider the big kids back home in the USA such as Apmex, Provident Metals, and JM Bullion do give the information about their office without that much poking around.

I also prefer companies that I deal with to give a product at a good price with decent service with clear information of who they are where they are located.  No drama or hype about what I should be buying or how much.   Seems not that much has changed with the hype in my lifetime, I still recall when the Hunt Brothers tried to corner the silver market.

I agree on all points.  I personally would not buy from goldsilver.com unless they were highly rated like Apmex or JM Bullion.  Can't be too careful these days.

[kimchi]

So many unknowns... some would say what is coming will be unprecedented in history even handed down directly by our grandfathers' fathers...we may need plenty of food and water and potentially stocked medicines to even get as far as capitalising on gold or silver. Any major 'analyst' who doesn't mention those isn't worth their salt imvho (which is not saying much really as that would be worth an absolute fortune very early on, as would tobacco etc).

Equally, gold and silver could be totally taken out of the equation by confiscation etc and a central (likely world) government-imposed social credit cyptocurrency/credit. Brush up on those hunter/gatherer skills folks, at least we will have those hot chicky babes in furs to look forward to when we get back to our caves with a couple of mangy foxes over our shoulders!

On 30/07/2021 at 21:21, SilverStorm said:

Yes, that is exactly what I did.   Is this not allowed on TSF?   If it is not allowed, I will take it down.

Best practice is to signpost the link directly and clearly in your post

[AppleZippoandMetronome]

The implication that even in the midst of a hyper inflation crisis event you could continue living exactly as you are now if only you have enough silver and gold is hilarious to me.

The main uses I can think of for silver and gold in that type of situation would be using it to relocate elsewhere and/or hanging on to it and using it at the other end of the crisis to start over. If you plan on sticking around through the crisis you better be thinking of more pressing needs than deluding yourself into thinking you'd be able to maintain your current standard of living.

[SilverStorm]

 

On 30/07/2021 at 12:13, SilverStorm said:

You may agree or disagree with the posted content, and I look forward to hearing your comments.   Please keep in mind that the charts below is based on old gold price of USD $1,300 and old silver price of USD $20, which needs to be taken into consideration.  Link to the website I copied/pasted from:  How Much Gold and Silver is Needed for Financial Crises (goldsilver.com)

 

 

On 01/08/2021 at 13:53, kimchi said:

Best practice is to signpost the link directly and clearly in your post

I don't know how to make it any more clearer than what I already wrote?  🤪

 

[SilverStorm]

17 hours ago, AppleZippoandMetronome said:

The implication that even in the midst of a hyper inflation crisis event you could continue living exactly as you are now if only you have enough silver and gold is hilarious to me.

The main uses I can think of for silver and gold in that type of situation would be using it to relocate elsewhere and/or hanging on to it and using it at the other end of the crisis to start over. If you plan on sticking around through the crisis you better be thinking of more pressing needs than deluding yourself into thinking you'd be able to maintain your current standard of living.

You make an interesting argument and I agree with most of your points.   The only part I don't agree is your assumption that you can relocate elsewhere.   In a SHTF scenario, you and hundreds of thousands (if not millions) of your fellow citizens will be fleeing to another country.   Borders will slam shut very quickly to prevent "undesirable" refugees from flooding their countries.   No amount of gold or silver will let you in unless you have connections in high places, you are a VIP, or one of the 1% wealthy elite.     

 

[AppleZippoandMetronome]

5 hours ago, SilverStorm said:

You make an interesting argument and I agree with most of your points.   The only part I don't agree is your assumption that you can relocate elsewhere.   In a SHTF scenario, you and hundreds of thousands (if not millions) of your fellow citizens will be fleeing to another country.   Borders will slam shut very quickly to prevent "undesirable" refugees from flooding their countries.   No amount of gold or silver will let you in unless you have connections in high places, you are a VIP, or one of the 1% wealthy elite.     

 

The thing is... borders aren't impenetrable and for the right amount of money people smuggling is big business. Its happening all over the world more so now than ever. Even Canada hasn't been immune once those routes were recognised for exploitation - Roxham Road from New York state into Quebec is stated to have had 50000 illegal entries between 2017 - 2019. We see it here in the UK in the form of people getting on boats, rafts, etc to cross the English Channel. You really don't need to look far these days to see stories of this sort of thing unfolding.

It isn't without its risks and wouldn't be my first choice but if things got bad enough I'd be happy to be holding something valuable that could be used to find me a route out of the country.

[Arganto]

On 01/08/2021 at 15:21, kena said:

goldsilver.com appears to be a US site.

Goldsilver.com is/was Mike Maloney's company.

[Arganto]

There are, in my opinion, too many factors to consider with too many variables affecting them for any kind of speculation over how much bullion will sustain you in any kind of crisis to be accurate. If you stack to hedge in gold/silver/platinum/diesel generators/rifles/Doberman puppies etc you should continue to do so according to your plans. It may be we have some event that leaves us with a recognisable trade in silver within and between communities, or we could end up desperate for seeds and a reliable source of protein. It could be we collectively pull out heads out of our asses and don't plunge into the culmination of the fourth turning, who knows. 

Personally I think the metals will be useful against properties and commodities after what I see (as do many others) as an inevitable financial malady on the horizon. I have factored in the possibility of their use during hard times should the financial malady escalate into conflict but personally see this as a reasonably unlikely situation. I will be happy to find I was wrong to think a "crash" inevitable and then leave the metal to my kids.

Maloney and his team often give interesting and accurate insights into the financial system, the videos they made on the Federal Reserve are quite entertaining, but be wary of the man who asserts it will rain as he sells umbrellas. I'm not saying he's not genuine, but sometimes the fear porn can get a bit much.

[danmc82]

If it gets that bad im taking my Gold and SIlver here...

 

But then I'll be met by these..... 😬

 

So then I'll buy these guys to protect me 😄

 

Then drive off in this...😂

 

 

[kimchi]

21 hours ago, SilverStorm said:

I don't know how to make it any more clearer than what I already wrote?  🤪

My apologies - I missed that - usually people put it on a separate line or whatnot, but mea culpa here!

 

14 hours ago, Liam84 said:

I will be happy to find I was wrong to think a "crash" inevitable and then leave the metal to my kids.

I think that is what many (most?) of us dream of - of being wrong (perhaps we are all miserable pessimists LOL) - nothing would make me happier!!!

[SilverStorm]

On 03/08/2021 at 17:03, kimchi said:

I think that is what many (most?) of us dream of - of being wrong (perhaps we are all miserable pessimists LOL) - nothing would make me happier!!!

I would drink to that!  Cheers!  😀

[StackemHigh]

Live for today, worry about the future tomorrow.

[CollectorNo1]

14 minutes ago, StackemHigh said:

Live for today, worry about the future tomorrow.

"Ditto"

[CollectorNo1]

Might be fun to have a bit of an apocalypse, zombies roaming the streets...cos there's not much on TV these days....

[Bigmarc]

I saw a comment on a YouTube vid the other day saying don't stack silver for hyperinflation, hold rupees. 

I must admit this got my old brain ticking and wondered if saving in a secondary currency was a good idea or not. Firstly, is anyone doing this? Are there any currency's out there that are not directly affected by the demise of the dollar. With today's technology any currency exchange is instant and could affectively be done at the till and essentially more liquid than gold and silver. Usually I wouldn't go too deep into this thought process but considering how cheap and easy it is to do I thought I would put it out there. Years ago I always remember going to the Dominican and was intrigued at the fact they would always prefer the USD than their own currency. I am starting to think, if the tables were turned, what currency would you prefer?

[GoldDiggerDave]

If the worst happens this is a better stack to have.  

[trozau]

On 25/08/2021 at 06:12, CollectorNo1 said:

Might be fun to have a bit of an apocalypse, zombies roaming the streets...cos there's not much on TV these days....

Just make sure you have the appropriate firearms and a healthy stock of ammo to plink out those pesky zombies. 😎

[CollectorNo1]

22 minutes ago, trozau said:

Just make sure you have the appropriate firearms and a healthy stock of ammo to plink out those pesky zombies. 😎

Haha I would comment but I'm afraid I will get told off..as I'm not sure what I can say post now as I keep getting told off!!???

[Bigmarc]

9 hours ago, trozau said:

Just make sure you have the appropriate firearms and a healthy stock of ammo to plink out those pesky zombies. 😎

Can't get that here, but we can throw huge lumps of wood at them. Goldigger Dave is stocking up. 

[GoldDiggerDave]

5 hours ago, Bigmarc said:

Can't get that here, but we can throw huge lumps of wood at them. Goldigger Dave is stocking up. 

It’s not the lumps of wood mate I’d be using, the splitting maul and my Chainsaw would be a better choice.  If it all goes to something like the purge then I’d go all St George and get my insanely sharpe Gladius out!  

[SilverStorm]

On 01/09/2021 at 15:00, Bigmarc said:

I saw a comment on a YouTube vid the other day saying don't stack silver for hyperinflation, hold rupees. 

I must admit this got my old brain ticking and wondered if saving in a secondary currency was a good idea or not. Firstly, is anyone doing this? Are there any currency's out there that are not directly affected by the demise of the dollar. With today's technology any currency exchange is instant and could affectively be done at the till and essentially more liquid than gold and silver. Usually I wouldn't go too deep into this thought process but considering how cheap and easy it is to do I thought I would put it out there. Years ago I always remember going to the Dominican and was intrigued at the fact they would always prefer the USD than their own currency. I am starting to think, if the tables were turned, what currency would you prefer?

You raise a good point about holding fiat currency.   We need to look no further than the horrible situation unfolding in Afghanistan.   Their banks are closed and therefore no access to local currency.   Without fiat, Afghans can't buy necessities, and many are on the brink of starvation.   Holding local and foreign currency may help you survive in the short term.