Peter Schiff and MoneyBags73 Discuss Silver in a crisis situation on WallStreet Unspun
This is a call I made to Peter on his Radio show discussing junk silver, mining stocks and gold and silver.
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18 Responses to Peter Schiff and MoneyBags73 Discuss Silver in a crisis situation on WallStreet Unspun
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And the more “informational age” we become the more the demand on silver becomes. This knowledge mixed with Inflationary risk of the dollar means silver, no matter how you get it, it is a great investment.
Paper will be a novelty at best with people accepting it as a nostalgic trip. I may trade an apple for a $100 bill for the fun of it.
PMs may drop in value because they are valuable largely because they’re pretty. When people are hungry the value of pretty drops. With no industry the commercial benefits drop too.
Food & water are difficult. Where do you store this big stuff? How do you invest in potatos today for hunger in 2015 when it spoils in weeks or months?
Same here! lol
@Piscivorus If I had a time machine I would go back in time and kick John Maynard Keynes’ dad in the nuts
i hope it never comes to a [x] for food scenario.
I tend to believe that we are both right to a certain extent.
ive been to africa
and in those countries barter is a way of life; from durban to karas one can trade diamonds & spice for food [meat], i know metals are scares and precious and a good hedge sure – am not convinced it is the safest hedge for a shtf scenario especially in the west. have you ever had to barter for your supper? most wont have metals, and i really believe a ‘what can you do for me’ attitude will be adopted in the west for a shtf theater.
In Zimbabwe the Shit has hit the fan recently and without gold you can’t even feed your family. If you are interested you can search “Zimbabwe Gold for bread” and take a look for yourself.
am not so sure, potatoes meat and produce may be more valuable than coins if the shtf.
i’ll trade you 50lb of potatoes for 100gal of water. coins, gold and silver are only a hedge, no guarantee. + you cant eat silver.
I can tell you that you will have a much better chance feeding your family with silver that has been accepted as money for thousands of years than you would with paper IOU nothings.
when the shtf, what are we going to do with all these coins? i doubt i’ll be able to spend these things.
They should have banned it but they didn’t. They just imposed the source and apportionment requirements. The 16th amendment didn’t grant Congress any new taxing authority, it just removed the requirements. It was stupid to allow it in the first place and it was too easy to undo.
@Piscivorus The Constitution already had a ban on taxing income, or any non-proportional taxation. That’s why the 16th amendment had to be passed.
If I had a time machine, I’d go back to when the Constitution was being written and convince Thomas Jefferson to include a) an explicit protection of all income from taxation, and b) a ban on fractional reserve banking.
Great questions too! Thanks for posting!
Good Post! Yes, junk silver is one of the cheapest way of having real money! Or kilo-bars etc.Not ETF’s=scam
Me Too:D Did’nt realise it was MoneyBags73 lol Great Call
Hey I remember this call!!
Nice!!