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Re: gold and silver [Re: pcr2] #6654917
11/01/19 04:55 PM
11/01/19 04:55 PM
Joined: May 2016
Posts: 3,492
Southern Illinois
F
Foxpaw Offline
trapper
Foxpaw  Offline
trapper
F

Joined: May 2016
Posts: 3,492
Southern Illinois
The English word “salary” comes from the Latin salarium which came from salt, referring to the early Roman soldier’s wages, part of which was an allowance of salt.

The county south of me is Saline County. They had plenty of salt water wells which was boiled down to get the salt. It was done with slave labor and is why the slave trade prospered in Southern Illinois for a while.

Any thing of value can be traded but often the two people wanting to trade doesn't want the other guys commodity. That is why a medium is necessary to complete the trade and that is why an exchange is necessary for a free market.

Last edited by Foxpaw; 11/01/19 04:56 PM.
Re: gold and silver [Re: white17] #6654930
11/01/19 05:13 PM
11/01/19 05:13 PM
Joined: May 2010
Posts: 10,421
mn north of blakely
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
Posts: 10,421
mn north of blakely
Originally Posted by white17
Gold and silver are only worth what we say they are too. Remember that salt used to be the medium of exchange.

Nothing has intrinsic value. Only utilitarian value that we ascribe to it


Ask the Chinese, Russians and Indians if gold has intrinsic value.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: gold and silver [Re: pcr2] #6655150
11/01/19 10:16 PM
11/01/19 10:16 PM
Joined: Oct 2009
Posts: 7,254
western mn
B
bucksnbears Offline
trapper
bucksnbears  Offline
trapper
B

Joined: Oct 2009
Posts: 7,254
western mn
I'm sure I'm not seeing it but'.., years ago, my dad tried to get me to buy gold n silver.
Never did.. we had the same discussion last year. I told him lead n copper were a way better investment.
He looked at me in a puzzled way.
Bottom line, you may have 1000 lbs of gold n silver, but if you don't have even a small amount of copper n lead and I do, guess what wink


swampgas chili and schmidt beer makes for a deadly combo

You have to remember that 1 out of 3 Democratic Voters is just as dumb as the other two.
Re: gold and silver [Re: pcr2] #6655159
11/01/19 10:26 PM
11/01/19 10:26 PM
Joined: Jan 2008
Posts: 3,001
USA MN
Snowpa Offline
trapper
Snowpa  Offline
trapper

Joined: Jan 2008
Posts: 3,001
USA MN
.22 shells


Never Confuse Stupid With Crazy
Re: gold and silver [Re: bucksnbears] #6655188
11/01/19 11:13 PM
11/01/19 11:13 PM
Joined: May 2010
Posts: 10,421
mn north of blakely
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
Posts: 10,421
mn north of blakely
Originally Posted by bucksnbears
I'm sure I'm not seeing it but'.., years ago, my dad tried to get me to buy gold n silver.
Never did.. we had the same discussion last year. I told him lead n copper were a way better investment.
He looked at me in a puzzled way.
Bottom line, you may have 1000 lbs of gold n silver, but if you don't have even a small amount of copper n lead and I do, guess what wink


It goes without saying one would need precious and semi precious metals.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: gold and silver [Re: pcr2] #6655243
11/02/19 04:14 AM
11/02/19 04:14 AM
Joined: Nov 2014
Posts: 1,922
east central WI
D
Dirty D Offline
trapper
Dirty D  Offline
trapper
D

Joined: Nov 2014
Posts: 1,922
east central WI
if the economy was to total tank gold and silver would not be as valuable as some commodities.

Guns, Ammunition, booze, smokes and even toilet paper..

heck, if things were bad enough a can of spam would be worth more than a bar of gold.

Last edited by Dirty D; 11/02/19 04:15 AM.
Re: gold and silver [Re: Dirty D] #6655329
11/02/19 09:00 AM
11/02/19 09:00 AM
Joined: Jun 2011
Posts: 233
mississippi, Stewart
Eric Yeatman Offline
trapper
Eric Yeatman  Offline
trapper

Joined: Jun 2011
Posts: 233
mississippi, Stewart
Originally Posted by Dirty D
if the economy was to total tank gold and silver would not be as valuable as some commodities.

Guns, Ammunition, booze, smokes and even toilet paper..

heck, if things were bad enough a can of spam would be worth more than a bar of gold.





X2


Want to buy Fur Harvesting and Predator Control by Roy Kuykendal
Re: gold and silver [Re: white17] #6655332
11/02/19 09:02 AM
11/02/19 09:02 AM
Joined: Nov 2008
Posts: 4,548
Cleveland IL
muddyriverdogz Offline
trapper
muddyriverdogz  Offline
trapper

Joined: Nov 2008
Posts: 4,548
Cleveland IL
Originally Posted by white17
Gold and silver are only worth what we say they are too. Remember that salt used to be the medium of exchange.

Nothing has intrinsic value. Only utilitarian value that we ascribe to it


I wouldn't say what "we" say it's worth but what the Central Banker's say it's worth relative to there fiat currency. This is done through paper gold and silver that doesn't exist and derivatives.

That was the reason behind the crypto currency's. Something the banker's couldn't control the value of.

Last edited by muddyriverdogz; 11/02/19 09:14 AM.

You only live once, so get over it!

Tactics may change but the goal remains the same.
Re: gold and silver [Re: Steven 49er] #6655362
11/02/19 09:53 AM
11/02/19 09:53 AM
Joined: Mar 2007
Posts: 35,129
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
white17  Offline

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 35,129
McGrath, AK
Originally Posted by Steven 49er
Originally Posted by white17
Gold and silver are only worth what we say they are too. Remember that salt used to be the medium of exchange.

Nothing has intrinsic value. Only utilitarian value that we ascribe to it


Ask the Chinese, Russians and Indians if gold has intrinsic value.




I am sure they are accumulating it because of what they can do with it. Utility value. By itself, gold does nothing and represents nothing.


Mean As Nails
Re: gold and silver [Re: pcr2] #6655365
11/02/19 10:03 AM
11/02/19 10:03 AM
Joined: Dec 2006
Posts: 5,516
La Crosse, WI
Macthediver Offline
trapper
Macthediver  Offline
trapper

Joined: Dec 2006
Posts: 5,516
La Crosse, WI
I've heard where some Prepper's prefer to hoard wine and dry foods like Bean, rice.. Keep lesser amounts of silver and gold. As others have said commodities would probably have move value in a actual collapse or long term power outage. Would be a mess no matter what anyone thinks they might have prepared for..

Mac


"Never Forget Which Way Is Up"

Re: gold and silver [Re: white17] #6655367
11/02/19 10:05 AM
11/02/19 10:05 AM
Joined: Nov 2008
Posts: 4,548
Cleveland IL
muddyriverdogz Offline
trapper
muddyriverdogz  Offline
trapper

Joined: Nov 2008
Posts: 4,548
Cleveland IL
Without gold and silver your computer wouldn't work,your cell phone or that cool 65" TV you have. All that cool stuff we are putting in space wouldn't be possible.The utilitarian use of rare metal's is just going to increase in the future.

They might be accumulating it because they know what the paper will be worth in the future.

Last edited by muddyriverdogz; 11/02/19 10:49 AM.

You only live once, so get over it!

Tactics may change but the goal remains the same.
Re: gold and silver [Re: pcr2] #6655399
11/02/19 10:54 AM
11/02/19 10:54 AM
Joined: May 2010
Posts: 10,421
mn north of blakely
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
Posts: 10,421
mn north of blakely
Let me rephrase Ken, why are the Chinese, Russian and Indian Central banks accumulation gold?


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: gold and silver [Re: pcr2] #6655403
11/02/19 11:02 AM
11/02/19 11:02 AM
Joined: Nov 2008
Posts: 4,548
Cleveland IL
muddyriverdogz Offline
trapper
muddyriverdogz  Offline
trapper

Joined: Nov 2008
Posts: 4,548
Cleveland IL
Because they believe the paper and digital markets are going to crash would be my guess.That wouldn't be far fetched either considering the entire world is headed towards negative interest rates.

Last edited by muddyriverdogz; 11/02/19 11:18 AM.

You only live once, so get over it!

Tactics may change but the goal remains the same.
Re: gold and silver [Re: pcr2] #6655517
11/02/19 03:29 PM
11/02/19 03:29 PM
Joined: Sep 2013
Posts: 10,404
Northeast Oklahoma
M
Mike in A-town Offline
trapper
Mike in A-town  Offline
trapper
M

Joined: Sep 2013
Posts: 10,404
Northeast Oklahoma
In the case of an economic meltdown the cliche about beans, bullets, and Band-Aids holds true...

Food: A way to produce it and store it.

Medicine: A way to treat whatever ails you now... And what could ail you later.

Guns: Self-explanatory.

A few other considerations...

Tools and hardware, and the knowledge of how to use them.

Alcohol: Even if you don't drink, it has a lot of uses and people will trade for it.

Tobacco: Even if you don't use it, people will trade for it.

Tires: If the economy is down for a while people will manage to fix and fuel vehicles. But tires will be valuable.

Household items: Toilet paper was mentioned. Basic kitchen utensils will become valuable, especially manual ones.

Gold and silver can still be valuable, but I wouldn't make them a priority.

Mike


One man with a gun may control 100 others who have none.

Vladimir Lenin
Re: gold and silver [Re: Steven 49er] #6655535
11/02/19 04:09 PM
11/02/19 04:09 PM
Joined: Mar 2007
Posts: 35,129
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
white17  Offline

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 35,129
McGrath, AK
Originally Posted by Steven 49er
Let me rephrase Ken, why are the Chinese, Russian and Indian Central banks accumulation gold?



That's an easy one. They are buying gold because they want/need to diversify their foreign exchange reserves. The trade war could escalate into a currency war and both China & Russia believe ( probably correctly) that the gold will appreciate while currencies depreciate.

Nevertheless the gold that China is holding only constitutes 2.8% of their total foreign reserves. A very tiny fraction.

Still, you and I have no disagreement here. The gold only has a value in terms of what someone will pay or trade for it. By itself it has no intrinsic value. If you buy an ounce of gold and hold it until the end of eternity, all you will have is an ounce of gold that just sits there an looks at you.

The value is only derived from what a person can do with it. Just like a trap. A chunk of gold lying on the river bank is just like the chunk of limestone lying beside it. A rock.

I know you understand this, unlike some others.



Mean As Nails
Re: gold and silver [Re: pcr2] #6655538
11/02/19 04:18 PM
11/02/19 04:18 PM
Joined: Jan 2007
Posts: 3,960
Northern Nevada
B
Bob Offline
trapper
Bob  Offline
trapper
B

Joined: Jan 2007
Posts: 3,960
Northern Nevada
If it came to a full on crisis gold and silver would be worthless. You can’t eat or drink it, it won’t heal or defend you, doesn’t produce heat, is too soft to make useful tools, I guess you could make silverware but it cannot contribute anything to you that you need to survive in and of itself. Nobody will trade you food for it because they’ll want something more important, water or a battery or a shirt.


"I have two guns, one for each of ya."
Re: gold and silver [Re: pcr2] #6655542
11/02/19 04:27 PM
11/02/19 04:27 PM
Joined: May 2010
Posts: 10,421
mn north of blakely
S
Steven 49er Offline
trapper
Steven 49er  Offline
trapper
S

Joined: May 2010
Posts: 10,421
mn north of blakely
We'll have to respectfully disagree Ken, gold lying in the stream hasn't been like a piece of limestone more 1000s of years, I don't see it changing anytime in the next 1000.


"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
Re: gold and silver [Re: pcr2] #6655544
11/02/19 04:32 PM
11/02/19 04:32 PM
Joined: Mar 2007
Posts: 35,129
McGrath, AK
W
white17 Offline

"General (Mr.Sunshine) Washington"
white17  Offline

"General (Mr.Sunshine) Washington"
W

Joined: Mar 2007
Posts: 35,129
McGrath, AK
But you are thinking in terms of dollars. NOT intrinsic value


Mean As Nails
Re: gold and silver [Re: Steven 49er] #6655675
11/02/19 07:42 PM
11/02/19 07:42 PM
Joined: Nov 2008
Posts: 4,548
Cleveland IL
muddyriverdogz Offline
trapper
muddyriverdogz  Offline
trapper

Joined: Nov 2008
Posts: 4,548
Cleveland IL
Precious metals won't help during a full blown financial collapse. Is what it will do is preserve your wealth when we come out the other side.
Originally Posted by Steven 49er
We'll have to respectfully disagree Ken, gold lying in the stream hasn't been like a piece of limestone more 1000s of years, I don't see it changing anytime in the next 1000.



Gold never was and will never be a limestone. It was forged in a dying star billion's of years ago and will be gold until the end of time. We don't even know the new uses that will come in the future for precious metals but you can bet there will be.

Gold has no intrinsic value ? Well then just send all yours to me i will happily take that junk off your hands.Why would you want to be weighted down with that.

Gold is real money. Gold was money long before any of us were here and it will be money long after we are gone.

Last edited by muddyriverdogz; 11/02/19 07:51 PM.

You only live once, so get over it!

Tactics may change but the goal remains the same.
Re: gold and silver [Re: Bob] #6655739
11/02/19 08:35 PM
11/02/19 08:35 PM
Joined: Nov 2008
Posts: 4,548
Cleveland IL
muddyriverdogz Offline
trapper
muddyriverdogz  Offline
trapper

Joined: Nov 2008
Posts: 4,548
Cleveland IL
Originally Posted by Bob
If it came to a full on crisis gold and silver would be worthless. You can’t eat or drink it, it won’t heal or defend you, doesn’t produce heat, is too soft to make useful tools, I guess you could make silverware but it cannot contribute anything to you that you need to survive in and of itself. Nobody will trade you food for it because they’ll want something more important, water or a battery or a shirt.



Gold and silver are a way to preserve wealth not survive a crisis.


You only live once, so get over it!

Tactics may change but the goal remains the same.
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