Hi-Yo SILVER

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http://quotes.ino.com/chart/intraday.gif?s=FOREX_XAGUSDO&t=f&w=15&a=2&v=w

Thanks NEP - I started buying silver in 2008 as the Depression loomed........and will dump it as soon as the inflation wolf goes away (decade at least).

Prepared.

Can someone explain why gold or silver is going to be worth spit in a true financial meltdown? Can't eat it, can't drink it, can't screw it. Doesn't keep you warm. Don't get it. Just more speculator manipulation.

jmc wrote: Can someone explain why gold or silver is going to be worth spit in a true financial meltdown? Can't eat it, can't drink it, can't screw it. Don't get it. Just more speculator manipulation.

I don't know about the gold, but maybe the silver's for making bullets to take out the Mutant Zombie Bikers?

Put simply, if you double the number of dollars in circulation, it costs twice as many of them to buy
the same amount of silver or gold. So wealthy investors buy precious metals to hedge against inflation and general chaos in the markets.
Before 1900, the U.S. dollar was pegged to both gold and silver. Back then, one ounce of gold was
worth $20.65, and an ounce of silver was worth $1.29. And up until 1971, the U.S. dollar was pegged to
gold. Silver fell by the wayside because it’s less valuable and takes up far more space.

Yeah, we know why people buy PM for a hedge, but the question was, why do people buy them when they think the whole economy/culture/society is going to crash?

I wouldn't trade you any of my beans and rice for all of your gold and silver in such a case. Mutant Zombie Bikers notwithstanding.

AspenValley wrote: Yeah, we know why people buy PM for a hedge, but the question was, why do people buy them when they think the whole economy/culture/society is going to crash?

I wouldn't trade you any of my beans and rice for all of your gold and silver in such a case. Mutant Zombie Bikers notwithstanding.

My point exactly.

It will still buy foreign currency. Precious metals may gain or lose value, but they will never go to zero.

Believe me you can trade the metal for ammo, guns, whatever you want.

I will trade lead however.