# Hurricane Irene and precious metals.



## BillS (May 30, 2011)

I was just thinking today that now might be a good time to buy more precious metals like gold and silver. Hurricane Irene is expected to go up the east coast. It could do billions of dollars worth of damage. That certainly could be bad for the economy. Anything that's bad for the economy is usually good for precious metal prices.

I bought some junk silver for 6% over the spot price and that included the credit card surcharge. This is what I bought:

90% SILVER Coins | Buy Mercury Dimes Online | $1 Face


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## Meerkat (May 31, 2011)

Where will you spend all this gold? Will your neighbor give up his life supporting food for it?
In the coming world gold will be worthless,imo.
Who owns all this gold on the markets and who will benefit from it is the question.
If tshtf where will you go to purchase goods?


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## BillS (May 30, 2011)

I already have a year's supply of food. Gold is what you buy when you have everything else you need. You don't want to hoard dollars because the dollar will be worthless someday. You could say that gold is money insurance. When the dollar loses so much value that food costs ten times as much as it does today you can be 100% certain that gold will have risen at least as much as food. It would be more accurate to say that gold is money because it has been money for thousands of years. 

Gold is also a good investment right now. I bought gold in June when it was $1544. Now it's back up to $1800. If I sold all my gold now I could buy a year's supply of kerosene with just the profits from the sale. When the stock market panics gold goes up faster than the dollar loses value.

Central banks around the world have been buying gold by the ton. There's the expectation that eventually all fiat currencies will be hyperinflated and they'll be replaced someday with a currency that's backed by gold.

Sure, during the time right after the collapse gold will be difficult to trade with. People are going to want food and other supplies. But at some point the government will regain control of the country and the world will most likely go to currencies backed by gold. So if you have all the supplies you need and you still have thousands of dollars left to invest, gold and silver are the way to go.


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## TheAnt (Jun 7, 2011)

Meerkat said:


> Where will you spend all this gold? Will your neighbor give up his life supporting food for it?
> In the coming world gold will be worthless,imo.
> Who owns all this gold on the markets and who will benefit from it is the question.
> If tshtf where will you go to purchase goods?


Tell me you are kidding. Unless you are dead or dying gold will have value. Buying/selling is a natural law that does not depend on government or stability and gold is always the standard to make purchases with. It always will be.

The hurricane could temper demand for gold in the short term and cause it to lose a little in the markets but it will only be temporary. As Bill has said all fiat currencies are inflated and will lose value.


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## BlueShoe (Aug 7, 2010)

Gold IS money. It's been money for 4000 yrs. It still is a dictating factor for the "currency" that we currently trade. 

There are different levels of FAN events. I don't see gold having a special place in the Irene event. Something could happen, but most likely the storm will be a boon for storm chasers repairing roofs and properties. Think of how many power companies, tree companies and communications companies are putting together crews right now to go into the area and repair damage. Lots of these people live for storms for a bonus of income. Tens of thousands of people. Insurance companies will be writing checks that get spent into the economy immediately.


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## drifter0069 (Jan 6, 2011)

i agree gold is a powerful currency, but i would buy guns and ammo. That will always be good trade bait in a shtf situation. jmo


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## Meerkat (May 31, 2011)

TheAnt said:


> Tell me you are kidding. Unless you are dead or dying gold will have value. Buying/selling is a natural law that does not depend on government or stability and gold is always the standard to make purchases with. It always will be.
> 
> The hurricane could temper demand for gold in the short term and cause it to lose a little in the markets but it will only be temporary. As Bill has said all fiat currencies are inflated and will lose value.


 I would'nt kid you,kiddo.its just my opinion . Based on the dwindling resources like food ,water.
Not saying if I had extra money I would'nt buy some gold just in case the powers that be would'nt make it illegal to own 'again'.
Just my opinion on what I see them doing to the world now 'especially america' I don't see a future for currency of any kind unless a miracle hapens.


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## Clarice (Aug 19, 2010)

I don't have any gold, but would like to get some 1/10 oz. don't know when I would like to be comfortable with my other preps first.


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