I had a thought - Banks - PMs

[The Lazy L]

Read an article how a American teaching English in Mexico lost 50% of their money. Bank gave the option of a Pesos or Dollars account. Teacher thought Dollars was safer so he went that route. When Mexico devalued Pesos 50% he thought now was a good time to withdraw all of his money. He stood in the long bank line until it was his turn. Yes he could withdraw all of his money BUT by the NEW rules his dollars would have to be converted to the devalued Pesos. The Teacher's point was "They" could change the rules anytime they wanted.

Wasn't it Italy not too long ago that levied a tax on Depositors funds and took the money to fiance the bankrupt county?

To protect and preserve our life's work we should buy PMs. What prevents "They" from changing the rules, devaluing PMs, taxing, requiring confiscation or...?

Like "They" have with rifle magazines, outlawing 30 round magazines and requiring relinquishing to authorities without compensation?

 

[Caribou]

That was an interesting article. What they did was to devalue a fiat currency. A fiat currency is a replacement for money. PM's are money, whether issued my a country or not.

In the past the American government has made holding gold illegal. Back then many people turned in their gold, today I'm not so sure. Recently a law was passed in NJ that 30 round magazines have to be surrendered to the police. So far the total number of surrendered magazines is zero. There were certain exemptions to the possession of gold like jewellery and collectable coins. Could you imagine the women's march when the wives were told to surrender their wedding rings? That would be fun to watch. One advantage to junk silver is that it is currently money. Put a bezel around a gold coin and you have jewellery. Make that a gold bezel and a gold chain and you have more jewellery. Some people buy old gold coins just because of this reason, Glenn Beck is one person that I know of.

They can set the price of PM's but that means little. If you take a dollar into a bank in Venezuela you get the official exchange rate. If you purchase products or exchange it on the street you will do much better. This has been true in many countries across the globe for generations. When Russia was having their economic failure the blackmarket in Dollars was booming. Most laws require the people to voluntarily follow them. When the populace ignores an unjust law they can neither knock on every door nor arrest everyone.

 

[hiwall]

When the USA outlawed gold, the President set the price of gold at $26 per ounce. Once everyone turned in all their gold the President then raised the price of gold to $35 per ounce. If my math serves me our gov made an immediate 74% on their gold holdings.
Our gov can do anything they want. They can outlaw anything from gold to potatoes or they can tax anything you own from cows to blankets. They are in total control. The ONLY check on our gov is the Second Amendment. And I wonder just how much of a check that is anymore.

 

[JAC]

BTW, gold and silver values are up. Silver today is 15.99 Gold is at 1318.90

 

[SheepDog]

Back in 1973 I sold my silver for $17 an ounce. Then the price dropped and I started buying. I haven't bought any silver lately but I do expect it to climb more.

 

[angie_nrs]

Distrust of our government is one of the main reasons I diversify. I have a few PM's (which will hold at least some value in every country), cash (at home in case there ever is a run on banks), physical assets (like tools, machinery, collectables), IRA's, small savings acct., few individual stocks, no debt, OTC meds, canned food, etc. I try and keep a little bit of everything on hand at all times. I also buy ammo, bulk food, outdoor gear, gun parts, etc with cash so big brother doesn't nose into MY business.....at least not more than it already has.

The governement doesn't have to control guns as much if they can control the ammo. So, I buy lots of ammo with cash and keep it in a safe place. From what I have heard, ammo will outlast many of us. Plus, if it gets that bad.....any ammo will be better than NO ammo. I do believe that very soon you will need an ID to buy ammo. Some Walmarts have already started asking for ID for ammo purchases even with cash, which I REALLY don't like! So, if there is an ammo store around you that doesn't require ID, stock it now if you value your privacy. One mention of Dems passing a law requiring ID for ammo purchases everywhere, and the ammo shelves will empty out again like during Sandy Hook. I have not heard of Dems coming up with this....YET. But, would it really surprise anyone???

I added to my PM's when someone posted here about silver being at a low. I bought some at $15 or slightly under that, if I recall correctly. Thumbs up to whoever posted that!

I fully expect that all the stuff I have accumulated will be passed on to my kids. I have told them some of what I have and they will be happy to take it. I have also told them WHY I have it and hopefully they will understand and keep it stashed like I have. If I can pass down that wisdom to them, then they can pass it down to theirs as well and hopefully I have helped to create a wise generation. Someday, someone will HAVE to use it. I just hope it's not me. But I have it, just in case it is me. I call it my insurance that can keep on giving even after I'm dead. Kinda like my life insurance..........except not a piece of paper held with an insurance company. I like my idea of life insurance so much better!

 

[hiwall]

Everything about prepping is what the government does NOT want anyone to do. The gov wants everyone to be totally dependent on the gov. That way people are a lot easier to control.

 

[Bacpacker]

Angie your plan sounds much like mine. Try and stock some of anything you can think of you might need at some point. PM's are just a portion of it.

 

[Amish Heart]

Yes, but the government is prepared to survive. They have gold and great underground bunkers full of stuff. Their lives are important to them.

 

[The Lazy L]

Yes, but the government is prepared to survive. They have gold and great underground bunkers full of stuff. Their lives are important to them.

All paid for by others (Taxpayer)!

 

[Amish Heart]

You got that right.