With the coming inflation, and the JP Morgan paper silver trading scam about to be exposed. Not to mention the HUGE industrial demand for silver, I can't help but spend most of checks on Silver, instead of buying bud and a new bong.
I'm having trouble understanding what purpose gold or silver will serve if the dollar goes bust, or all hell breaks loose. What do you do with the silver? Chip a piece off to buy something? And since your buying it with a dollar amount, wouldn't you take the same loss cashing it in on a new currency as trading in dollars? What do people plan to do with these metals?
Gold, silver, other precious metals and gems, all give the dollar it's worth. If the dollar loses it's worth, that just makes Gold worth more. It's like the ultimate currency.
currencies all over the world have been based on gold and silver backing their value...until the USA went rogue and started the fiat crap....oddly enough, banks, corps, THE WEALTHY, have been hording gold and silver since...I wonder why...
Yes but how do you use it to buy food? How will it work when I have a 300 dollar coin and I want 150 in food?
Old old school...they cut the gold coin in half. Ever heard the term "half pence"...was a penny with creases, so it was easy to break into parts... Halfpenny (British pre-decimal coin) - Wikipedia, the free encyclopedia Older coins were done the same way, cut into parts to meet the cost, all the time...(many had a 'cross' on one side to make the cut easier to agree with) Currency though out history is worth a look at. Some interesting oddities. Like using snail shells as currency..."how many clams will that cost me".
You can exchange one commodity for another. If you only have $50 silver coins then exchange it for a smaller denomination or a different medium, like toilet paper or grain. [ame=http://www.youtube.com/watch?v=7ubJp6rmUYM]Gold For Bread - Zimbabwe - YouTube[/ame]
$ = dollars, so you mean 50 silver coins. Which are assumed to be already or easily divided into weight prices.
Other countries will accept silver and gold. They won't accept american money, because it won't be worth anything. So basically anything that needs to be imported will require silver or gold. It's a currency that nearly every country places value in, unlike paper. Meaning walmart has to use gold to fill up stock on ps3s, so they will likely be sold for gold as well. Or oil, which is a big import, will likely have to be bought and sold using gold. And if gold becomes the primary currency once again, there will likely be pre-cut pieces with pre-determined values. It's where the idea of coins comes from.
But it won't be 50 "dollars" worth. Dollars are what we call our current currency. It would be measured in weight, much like nearly everything of "true value". You buy weed in grams or ounces. You buy milk in quarts and gallons. You buy gas in gallons. When you buy a can of soda, you don't buy 75 cents of soda. You buy 12 ounces at whatever price they determine fair. Look at any food, drink, etc. and they ALL list the weight of the product. Dollar amount is determined partially by the MSRP (manufacturer's suggested retail price), and ultimately by the seller.
Why would the term "dollar" survive if there are no dollars? We might keep the symbol ($), but think about this. When you buy an eighth in Cali, are you buying $40 of weed, or 3.5 grams. And if you go to New York, 3.5 grams will be a different price, and "$40 worth of weed" will be a different amount of actual weed. The reason you buy by weight and not dollar amount is so you don't get ripped off, and know what you're getting.
The "deutsch mark" survived hyperinflation... I think that we'll go back to bank notes eventually, nobody wants to lug metal everywhere.
Maybe, but it will have to backed by gold, like it previously was. The current U.S. dollar isn't backed by anything but faith.
It's just a store of value, precious metals are somewhat constant. You can protect yourself from hyperinflation by investing your dollars in the metals now. After hyperinflation, you can cash in the metals and receive the same value you put in (or probably more). Buy $100 worth of gold now, hyperinflation devalues money 10 fold, cash in metals for $1000, which will be worth the same as the $100 was worth before hyperinflation. Basically your covering your butt in expectation that the fed might fuck you.
Ok, get the silver- no prob! But why not start a grow? That would solve the problem of which to get, after a little time has passed and you got your first harvest! It's a fun hobby! lol
That would definitely help, but only when bartering with other smokers. There are still people who are against it, and I doubt they would accept it as payment.