Currency/money after TSHTF

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pooky2483

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I'm not sure where this post should go so, Admin, please feel free to move this thread.

I have been watching some Mike Maloney video's and got thinking about buying bitcoin (I've yet to find where I can actually 'buy' bitcoin).

I've looked at a few sites where I can buy silver coins and I came up with a question...

Why are there different prices for the same exact amount of silver, 1oz (1 TROY oz/31.1g).
That made me ask another question, if/when TSHTF and it really goes tits-up - No power.
How is the internet going to stay 'on' and who/what finally determines the price of gold/silver?

With no power, that would mean no internet and in turn, NO BITCOIN (yes, I know it's all stored in your hard drive (wallet), but, how are you going to spend any of it when the power NEVER comes back on. Regarding gold/silver, as I mentioned earlier, 1oz of a coin in one design costs a different price to one with another design on it. Who or what is going to say exactly how much 1oz will cost, which could be more or less than what you paid for yours, straight away, you're going to have more or less of a total value.

And, another question regarding gold/silver - what about exchange rates and control over the value. Will there be a central control over rates and who/what determines the value?

I'm not afraid to go out on a limb and say that the only 'currency' which will work is our sweat equity/skills as there would be no set control/restraint on the 'value' of gold/silver.
 

Brent S

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I’ve heard a lot say that 22lr ammo will be the new currency, and can’t disagree with that completely. My advice is to diversify any investments you have. I believe having some gold, silver, cash, hand tools, ammo, etc are all good ideas. No one has a crystal ball and can predict exactly what will or could happen. Covering as many bases as you can makes sense to me.
 

Brent S

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Maybe wishful thinking by the people that scarfed up tens of thousands of rounds at twice or three times the current market price?
Lol, yeah for a while there it didn’t matter how much it was, if you could find it you were lucky. Glad to see it again at a normal price and availability. Got me thinking I could use some more.....
 

Arcticdude

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Lol, yeah for a while there it didn’t matter how much it was, if you could find it you were lucky. Glad to see it again at a normal price and availability. Got me thinking I could use some more.....
That's right. During the ammo "shortage" I had to even buy subsonic and standard velocity .22 ammo. There wasn't any high velocity ammo anywhere. Over the last couple of years I've been selling off my stock of subsonic and standard velocity ammo.
 

tmttactical

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To me, consumable items, ammo, food, clothes, will become the first phase rebuilding currencies and then after (a long time after) some formal currencies will be instituted. What good is gold or silver if there is not a recognized value. To me it would be worthless but to somebody else it could be priceless. That is the whole point of barter and the the main reason for a official currency. Barter is all about "What is it worth to YOU" and currency is about an excepted value to all. If I am hungry, that egg is going to be worth a lot more to me, than that 22 Lr cartridge.
 

pooky2483

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It will be worth whatever someone is willing to pay (or barter) for it. As will everything else.

That's actually how the price is determined now, it's just centralized.
That's exactly my point, it will hold no exact value, it will be just like having 10 1oz silver coins and 10 1ltr bottles of whiskey (max proof) - They will hold whatever value we hold on them, the silver will just be a bartering commodity. But what exactly can we do with silver compared to the whiskey!
 

Brent S

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I tend to agree, for me personally, gold and silver really don’t hold much value. I do think they do to most people though, and that’s enough for me to feel they can be of use in trading and barter. I also think that if the US monetary system collapsed gold and silver would still be recognized as a universal currency, both here and in other countries. It has in the past through turbulent times and likely will again.
 

Brent S

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That's right. During the ammo "shortage" I had to even buy subsonic and standard velocity .22 ammo. There wasn't any high velocity ammo anywhere. Over the last couple of years I've been selling off my stock of subsonic and standard velocity ammo.
It would be good to use for target practice.
 

tmttactical

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Very good video and much to absorb. The first point that really made an impact was the fact "NO fiat money system has ever succeeded". The next was "ALL fiat currencies end up being valued at ZERO". Now I have not been a fan, nor am I a fan of precious metal savings but the video doe make some very good point, based on a prepper time line and disaster prediction. What I mean by the time line event is if you believe the major event is going to hit in approximately the next 10 years, I think it is too late to start buying / converting your expendable cash into gold. You will not have resources to make a significant difference. Consumables would probably be a better investment choice. Now if you are planning for 20, 30 or more years down the road, then I am changing my options to converting most of my expendable cash into physical gold and silver holding. As a rough guess, for very long term planning I would use 25% for consumable items (food,water, sanitation supplies, etc.) and 75% into physical precious metals. Since I visualize an economic crisis, similar to VZ, as the most likely SHTF event to happen, Then I just have to try and figure out if it will fall into the short term prep plan or will it fall into a longterm prep plan. To be honest, I firmly believe the 2020 presidential election will set the stage. If President Trump is not re-elected, then it will be short term planning. If President Trump is re-elected, then I think people could and should shift to a gold standard for themselves. JM2C
 

DrHenley

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Yes, old habits die hard, and people will keep using government currency until it becomes painfully obvious that it is worthless.

It will start by some people refusing to accept it, and then more and more people will not accept it until it is abandoned. I'm not sure how long that will take.
 

pooky2483

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Uh...Carry it in your pocket maybe?

Gold and silver have been used as money and mediums of exchange for thousands of years. There MUST be a reason!
Uh...Carry it in your pocket maybe?
Or a wheelbarrow ;-)
Gold and silver have been used as money and mediums of exchange for thousands of years. There MUST be a reason!
I'm not denying that, what I'm trying to say is that in a SHTF scenario, how are we going to actually give a fixed value to gold/silver, as was in Egyptian times.
 

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