Selling/using gold and silver as payment

KUCH

When and if gold/silver hit $1650/50 do you believe you can readily go down to the B&M and they will buy? Could you use PM's as mortgage, car, bank loan payment? Could you use it to pay federal tazes?

Justacommeman

I've used gold in payment to build my deck and for home repairs and I received a discount for that form of payment both times. MJ

tydye

Last summer I tried using silver to purchase different items at a flea/antique market. I was not too successful.

calleocho

try using euros at the local gas station ...

Tomohawk

Whoops! Triple Post!! What do I win? Sorry...

Tomohawk

2nd of the triple...

Tomohawk

<< <i>try using euros at the local gas station ... >>



Hehe...probably not too eagerly accepted. Try the yuan...you just about get shanghai'd (pun intended)!

But to the OP's point, and noting MJ's comment: Very cool idea, actually. I would guess the higher POG/POS goes, the more eager B&M's will accept your PM's to trade for $$...higher volumes mean better opportunities to move their goods and make profits on the buy/sell range. At least, that's how I'd predict it...I guess you could see the opposite if TSHTF and no one wants to lose their only real monetary instrument...

But MJ, I gotta try the deck idea...might be all kinds of side benny's that would enable!

KUCH

Cool, like bartering deck post, I'll call up GMAC Mortgage, the IRS and barter for payment made by gold or silver!

PreTurb

Way too many (99%+) in the US are conditioned to only think in dollars. Therefore, any PM trading in the general sense is not going to happen, in the short or medium term. However, those who can trade in and out of PM's and dollars (all of us here) can take advantage of catacylsmic losses in the USD.