tag:blogger.com,1999:blog-7139169.post123696372155245771..comments2023-11-02T07:25:45.884-05:00Comments on Mormanity - a blog for those interested in The Church of Jesus Christ of Latter-day Saints: Preserving Wealth: Add Something Durable to Your Food StorageJeff Lindsayhttp://www.blogger.com/profile/08776493593387402607noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-7139169.post-58247652201417176522010-10-12T16:36:29.786-05:002010-10-12T16:36:29.786-05:00Here's an active link: http://www.kitco.com/in...Here's an active link: <a href="http://www.kitco.com/ind/Mack/oct122010.html" rel="nofollow">http://www.kitco.com/ind/Mack/oct122010.html</a>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7139169.post-67568141854258363532010-10-12T16:35:59.090-05:002010-10-12T16:35:59.090-05:00Here's why it may be unwise to wait for a sign...Here's why it may be unwise to wait for a significant drop in silver's price before getting on board: http://www.kitco.com/ind/Mack/oct122010.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7139169.post-67242496175789070592010-10-08T06:50:18.267-05:002010-10-08T06:50:18.267-05:00While completely agreeing with your thesis (I boug...While completely agreeing with your thesis (I bought my silver when it was around seven dollars/oz., the danger that lurks is that of deflation that may come with debt repudiation that may occur (tens of trillions of dollars in derivatives, writing off the value of reposessed real estate values by the banks & etc.). All of these things 'remove' the number of dollars in circulation which thus make the remaining dollars more 'valueable.'<br /><br />The Federal Reserve may try to print money to compensate for this, but with the typical U.S. citizen up to his eyeballs in debt, he is not inclued to borrow any more--The federal reserve can print money, but they can't print borrowers.<br /><br />I myself am not sure which scenario will occr. I suspect that we will have deflation followed by massive infation.<br /><br />I suspect a very wild ride for people who own gold and silver.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7139169.post-78822665937063317812010-10-07T10:51:05.811-05:002010-10-07T10:51:05.811-05:00Jeff, do you read lewrockwell.com? Fabulous resour...Jeff, do you read lewrockwell.com? Fabulous resource on economics and info on how to preserve your wealth. You should also be a member on ldsfreedomforum.com! RP 2012!Unknownhttps://www.blogger.com/profile/12078147210132940762noreply@blogger.comtag:blogger.com,1999:blog-7139169.post-52560834254671349482010-10-07T10:10:16.038-05:002010-10-07T10:10:16.038-05:00One thing I thought of while reading your post was...One thing I thought of while reading your post was that there are different types of wealth that we should focus on preserving. If we have an education or marketable skills then that may be more important than keeping a reserve supply of silver or gold. In some dire circumstances then having the precious metals will be important, but if we follow the advice of the prophets and apostles (the advice that we have been getting for many years) then we will get as much education or training as we can. This arguably is more precious than precious metals. The precious metals will only last you until you run out, but a marketable skill will last much longer.<br /><br />Now I want to point out that I do agree with you, I have my only supply of junk silver, but I sincerely hope that I never have to use it. I would much rather that my marketable skills be the thing that keeps me fed in hard times. I think that is why we have been counseled so much to get all the education and training that we can, because those are skills that we can always take with us and we can always trade for food or other supplies. In my line of work my knowledge of astrophysics may not be a an asset if the economy completely collapses, which is why I also focused on learning how to program and maintain computers, and how to be a good, effective teacher, which are skills that should still be in demand if the dollar becomes worthless. Those skills will still feed me and my family long after I run out of junk silver.Quantumleap42https://www.blogger.com/profile/16711817313734546305noreply@blogger.comtag:blogger.com,1999:blog-7139169.post-5112842592664464642010-10-07T07:50:05.138-05:002010-10-07T07:50:05.138-05:00"Junk silver" could be a very good place..."Junk silver" could be a very good place to start. It has one advantage over exchange traded instruments backed by precious metals. In a situation of dire economic collapse, where brokerage accounts are inaccessible, old silver coins that are held physically could be useful for trade because of their known silver content. The small amount per coin arguably makes them more useful in this regard than coins like the one ounce Gold Eagle, whose relatively high precious metal content may make it difficult to spend economically.ecepnoreply@blogger.com