1/2/2024 0 Comments Ampex coins for sale![]() Cryptocurrency is a modern alternative that can fill many of these same roles. Ideally you’re also making progress on your retirement and health savings before buying this insurance, too.Įven then, it’s fine if you have no metals at all. no high-interest credit card debt), have covered the beginner prepper checklist, and have at least a few week’s worth of expenses set aside in cash. You shouldn’t consider buying metals until you’ve got your personal financial foundation in order (eg. You’re still going to take a hit on your other assets, but at least this will soften the blow and provide liquidity options. If, for some reason, other people or other countries and world markets stop valuing your form of currency, having some of your wealth in the form of metals - which other people/places might still value - means the wealth at your disposal didn’t crash as much as it would’ve if you had all your eggs in one basket. But it’s not always a sure thing, as it greatly depends on the nuances of the situation - gold did reach an all-time high in 2011 after the Global Financial Crisis (going from $1,000 to $1,870 in a few years), but it didn’t perform any better than the broader stock market recovery. During the 1930s Great Depression, for example, gold prices went from $21 to $35. Similar to how you’d store gas at home in a proper gas can to handle a cyberattack crippling gas supplies across the East Coast, precious metals like gold, silver, platinum, and palladium are tangible things you can buy to handle macro economic problems. The role of precious metals in prepping is to be an insurance policy that pays off during broad economic problems, such as your country’s currency going haywire. It’s unfortunate that this market has been swamped with scammy people and false advertising that scares folks into doing dumb things with money (like some of our grandparents). This guide is not going to scare you into buying gold because the evil Federal Reserve is part of some Illuminati Deep State bla bla. ![]()
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