Topic: Precious metals are not useful in a collapse scenario! - page 6. (Read 13421 times)

You don't want to own a lot of real estate. Government can tax it as they please. It's called "real" estate for a reason: real is "royal, belongs to the king" in Spanish. Peasants don't own real estate, including in modern democracies. You don't own something you have to pay a tax on.

Call me crazy, but I just read about the situation in India with everyone scrambling at the banks to get rid of the banned currency...and the Cypress situation that happened a couple of years ago, and Greece.  I remember those things, and every. Time. I . Do. I realize how so very fucking important it is to have physical assets.  Gold & silver, weapons, and real estate.  All good things to have, because any government can do exactly what India just did and declare their money worthless.  Think about it.

Bitcoin has that problem of onboarding, but Steem(it) does not. And there is a better clone/kind of Steem(it) coming which I think is going to make it very easy for the people to get crypto-currency without needing to go through an exchange. And then the world will change. I say this, because I am the person who is creating this new project.

Why is not paying taxes bad for your country? The government is the most inefficient use of resources, so keeping resources out of the government's hands should be the best for growing the economy.

“An elephant is a mouse built to government specifications.”  ― Lazarus Long

You think the government is the only entity which can build roads, schools, and provide food and health care to the indigent?

Rather the problem in India is your country doesn't allow foreigners to invest there without a lot of corrupt bureaucracy. The problem of India is all the corruption. I read there are corrupt police and officials and it is very difficult and dangerous to attempt to do business there.

So what you really need in India is to stop the caste system and stop the corruption.

With crypto-currency and the Internet, we can empower the people of India to rise above the corruption, because the government officials can't control the Internet, the way they can control the lands, the licenses to build infrastructure and do physical business. The virtual economy is global and the people can increasingly go to it to earn income which can't be corrupted.

This is the future.

Similar cases exist. This is due to the fact that India has a national tradition as dowries to use gold. The demand for this metal is traditionally high. In other countries it's not, so we are trying to use bitcoin.

Well you have defo lost all credibility with me :

"Gold premiums in India jumped to their highest in 21 months, as demand surged after the government abolished two high-value currency notes"

http://in.reuters.com/article/asia-gold-demand-idINKBN1360OI

And what was that tinfoil hat nonsense about Indians turning to gold as a currency which I rebutted upthread:

this phrase resume my life motto.. i have B-backup plan and C-backup plan and D-backup plan

because Murphy Law Exist and works

I am surprised that many Indians forgot their culture and held large savings in government money.
This wouldn't have happened to them if they held physical gold.

Indian Currency Crashes To Record Low As Cash Exchange Of Old Notes Suspended
http://www.zerohedge.com/news/2016-11-24/india-panics-rupee-crashes-record-low-modi-cuts-banknote-exchange-6-weeks-early

Firstly no one has crystal ball, that price is someones opinion and nothing more.

For every "gold price is going to bomb" story it is just as easy to find one saying "gold price is going to the moon", very easy to select stories to fit your agenda.

You still did not address my point where you attempted to scaremonger regarding a 90% tax applied to gold  

How about this -

"Putin "Buys The Dip" - Russia's Gold Buying In October Largest This Millenium"
http://www.zerohedge.com/news/2016-11-23/putin-buys-dip-russias-gold-buying-october-largest-millenium

But I suppose you are better informed than the Russian government in your mamma's basement.

I wonder why Russia isnt buying all the bitcoin up  

Here comes $850:

So the government is going to go house to house searching for gold?

Dont think so.

You didnt answer my point either

Only for those who are complaining and don't avail it. For me it is the reality.

Not immune. Unless you want to bury in the ground.

It's a drop in a bucket. Think big, think scale.

It's a tax on government money. Physical gold is immune to this crap. If you have it.

You are so full of shit.

They can make high denomination notes no longer legal tender forcing people to change to lower value notes imposing a tax at the same time.

You cannot make gold worthless and impose a tax and force people to convert to fiat - The gold confiscation in America proves this as only a tiny % was ever handed over to the government.

But nobody would kill someone to take their food if food were being used as money?  You might have more success here if you thought about what you say a little bit assuming you have that capability.

It is true in 'mad max' scenarios and otherwise that they people who have more of whatever may be considered valuable have consequently more capabilities at their disposal to ensure that they remain in possession of it.  A high density-value item such as Au offers even greater options than something like food or fuel.

If it is practical for others to relieve a value possessor of their (say) gold or BTC in a major way then it is basically the fault of the possessor for not being more careful.

I would also argue that 'warlords' are basically the direct opposite of 'chaos' (aka, anarchy) and are an inevitable and predictable sign that 'chaos' is diminishing.  I would not expect that 'chaos' would or could exist for longer than a month or two before things start to 'precipitate'.

Boys FidelityTrade has the bars in stock. I don't have to buy a Comex contract. 

Here is the 90% tax coming on your gold:


I warned about this years ago:

http://www.marketoracle.co.uk/Article20327.html

Actually comex is leveraged over 542:1, if fiat went to shit would you be happy to get settlement in toilet paper or would you want the real metal?