Whatever you think about the politics, Venezuela is like being in a long war of attrition. Presumably, average persons who had stocks of goods and full pantries went through their stuff long ago.
If you have barter material (gold, silver, bullets etc.), there will be those who will sell food etc. The political elite and military in Venezuela are doing well... because they have food and power.... and there are those among them that will sell to those with gold and silver. Now, if the devastation (hurricane, nuclear etc) is so great, that there is no military or government, it will immediately become a barter society - chaos will rule, and those with the means to defend themselves will survive. The closest the oldest of us can remember to such things, is the depression... even then, it was not totality and order was still maintained. We have yet to hear the real horror stories from some of the Caribbean Islands that were hit hardest. These are thoughts of a situation none of us wants to see or experience... however, some degree of disaster is always possible. Likely - and that is a nebulous term - such a thing will be short term. For that, stores of food and water are primary, along with the ability to defend said stores. Long term, or for those that did not set up supplies, gold and silver will definitely be useful. Defense against marauders will always be required... look at the looters in Florida.... Those human vermin exist everywhere, waiting for what they see as opportunity... and what civilized society see as disaster. Plan ahead. Cheers, RickO
Back in the early 2000s I had all I could do to convince my former mailman "now an Edward Jones expert" that his clients should have 5-7.5 % in Gold. If remember right it was $300 to 400 per ounce. I told him about my dismal Dean Witter funds, I did better with his mutual funds, made a lot of money in my business, my rare coins and I mean rare coins, shot up so high I sold and can't afford to re buy them. I closed my business in Jan. 2008. In 2009 I listen to people with big portfolios of stocks cry and whine. I told them do as I do. Hang on !!! There is no other game in town. Now, they are wealthy again and I am just A-OK.
Today, I love collecting coins and I think gold is a good buy for me, you decide for yourself go with your gut feelings. I am petrified of my pension in this 21,000 DJIA. We look like Japan in 1988. My house is still worth $50,000 less than it was in 2006, but I own it and paid less than half in 1988 for it. Why did I say all this??? Because, owning things , gold, coins ,homes etc all DEPEND UPON YOUR PERSONAL SITUATION.
Regards, Sol
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@BAJJERFAN
My first firearm purchase was the Ruger Security Six .357..................many moons ago...still own it
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
Whatever you think about the politics, Venezuela is like being in a long war of attrition. Presumably, average persons who had stocks of goods and full pantries went through their stuff long ago.
Well there's the enhanced ability to take from others if one so chooses to stoop that low.
At my age, a fit hit the shan scenario is the least of my worries.
Or taking the gold
I look at it as x ounces of gold not some percent of net worth or portfolio value.
For many, the gold coins first thing to be blown out when things get tough. Gold and silver eagles most liquid thing on eBay.
If you have barter material (gold, silver, bullets etc.), there will be those who will sell food etc. The political elite and military in Venezuela are doing well... because they have food and power.... and there are those among them that will sell to those with gold and silver. Now, if the devastation (hurricane, nuclear etc) is so great, that there is no military or government, it will immediately become a barter society - chaos will rule, and those with the means to defend themselves will survive. The closest the oldest of us can remember to such things, is the depression... even then, it was not totality and order was still maintained. We have yet to hear the real horror stories from some of the Caribbean Islands that were hit hardest. These are thoughts of a situation none of us wants to see or experience... however, some degree of disaster is always possible. Likely - and that is a nebulous term - such a thing will be short term. For that, stores of food and water are primary, along with the ability to defend said stores. Long term, or for those that did not set up supplies, gold and silver will definitely be useful. Defense against marauders will always be required... look at the looters in Florida.... Those human vermin exist everywhere, waiting for what they see as opportunity... and what civilized society see as disaster. Plan ahead. Cheers, RickO
Back in the early 2000s I had all I could do to convince my former mailman "now an Edward Jones expert" that his clients should have 5-7.5 % in Gold. If remember right it was $300 to 400 per ounce. I told him about my dismal Dean Witter funds, I did better with his mutual funds, made a lot of money in my business, my rare coins and I mean rare coins, shot up so high I sold and can't afford to re buy them. I closed my business in Jan. 2008. In 2009 I listen to people with big portfolios of stocks cry and whine. I told them do as I do. Hang on !!! There is no other game in town. Now, they are wealthy again and I am just A-OK.
Today, I love collecting coins and I think gold is a good buy for me, you decide for yourself go with your gut feelings. I am petrified of my pension in this 21,000 DJIA. We look like Japan in 1988. My house is still worth $50,000 less than it was in 2006, but I own it and paid less than half in 1988 for it. Why did I say all this??? Because, owning things , gold, coins ,homes etc all DEPEND UPON YOUR PERSONAL SITUATION.
Regards, Sol