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#302525 - 10/17/24 02:39 PM Re: The price of gold [Re: brandtb]
Herman30 Offline
Addict

Registered: 08/08/06
Posts: 508
Loc: Finland
@Chisel is the wise one here. A well stocked pantry is more valuable and usefull than 1000 pound of gold in an emergency.

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#302526 - 10/18/24 02:05 PM Re: The price of gold [Re: Chisel]
Jeanette_Isabelle Offline
Carpal Tunnel

Registered: 11/13/06
Posts: 2986
Loc: Nacogdoches, Texas
Originally Posted By: Chisel
My philosophy is to buy stuff that we WILL need in an emergency (short or extended). So, we have a well-stocked pantry. Last year, I built a brick fireplace in the backyard with spaces underneath, filled with coal and other fire-cooking stuff. Also added more water tanks and more storage cabinets. I believe if we had to stay put (bug-in, as in Covid scenario) we will not suffer much.

INHO, this is more reasonable that buying gold. YMMV

The key is to diversify. We can't predict everything we might need in the future. For instance, if you need a tank of gas, an attendant may be more inclined to accept silver as payment than a loaf of bread.

Jeanette Isabelle
_________________________
I'm not sure whose twisted idea it was to put hundreds of adolescents in underfunded schools run by people whose dreams were crushed years ago, but I admire the sadism. -- Wednesday Adams, Wednesday

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#302528 - 10/20/24 11:51 PM Re: The price of gold [Re: brandtb]
dougwalkabout Offline
Crazy Canuck
Carpal Tunnel

Registered: 02/03/07
Posts: 3242
Loc: Alberta, Canada
Originally Posted By: brandtb
You can't eat your home fire insurance policy, either. Gold is a financial hedge, not a survival supply.

Ah! I misunderstood. I understand it is possible to trade in gold without taking actual possession. If you time it right (good luck or foresight) you can use it as a pendulum to temper the shocks of the investment market and currencies that seem to be based on faith and fumes.

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