If the dollar collapses how much gold to survive
HalfDime
Posts: 310 ✭✭✭✭
How Much Gold Would You Need to Survive a Dollar Collapse?
The amount of gold needed to "survive" a dollar collapse depends on your annual living expenses, the size of your household, and the severity of the collapse scenario. Gold’s purchasing power tends to rise significantly during currency crises, but the exact value will depend on how goods and services are priced post-collapse—potentially directly in ounces of gold or through a revalued currency.
Estimates Based on Current Living Costs
A common guideline from experienced preppers is to hold at least as much gold (or gold and silver combined) as would cover your annual living expenses. For example, if your cost of living is $50,000 per year, you would aim to hold $50,000 worth of gold at current prices. Some estimates suggest 3–4 pounds of gold per year for a family, which, at recent prices, equates to roughly $95,000–$130,000. This is a rough estimate and assumes gold retains or increases its purchasing power during a collapse.
In a true collapse, smaller denominations (such as fractional gold coins or small silver coins) are more practical for everyday transactions than large bars or heavy coins. While gold is a traditional store of value, in the immediate aftermath of a collapse, barter and self-sufficiency may be more important than precious metals for day-to-day survival.
...............................................................
Most people have nowhere near this much gold. If the dollar collapses then the recovery will be years, maybe even a decade or longer.
Comments
The dollar is not collapsing.
It's only shrinking. at some point one could call it a collapse. when we reach that point (if not already) it will be too late to notice
what's the story about the boiling frog? LOL
ZeroHedge makes debut at White House press corps briefing
With a small Dollar having an intrinsic value of $.07 , I’m not too concerned with the collapse. It’s been collapsed for years.
The dollar is backed up with good faith by the US federal government (what ?)
NOPE. government does not back or guarantee the dollar. the dollar is backed only by your faith that the next party will take it for payment. If no one will take it for payment it is toilet paper.
ZeroHedge makes debut at White House press corps briefing
😏👍
You mean if you can't find a counter-party then it's worthless?
Knowledge is the enemy of fear
As is the case with all things one wishes to trade...
difference between counter party and counter party risk. figure it out. Hint: one is good for a trade, the other involves risk.
ZeroHedge makes debut at White House press corps briefing
Indeed. However some assets still provide a utilitarian value even if not traded. PMs have no such utilitarian value.
Knowledge is the enemy of fear
.> @derryb said:
I understand your definition of counter-party risk, im just trying to show you another which, IMHO, is a greater risk than your definition.
Knowledge is the enemy of fear
.
Catalysts, solar cells, batteries, heat exchangers, specialty glass, dentistry, plus the previously-mentioned electronics, antiseptics, and ornamentation are just some of the utilitarian uses for precious metals.
To state that they have no utilitarian value is patently false.
But you can take your stocks and bonds and use the paper in the latrine (if you even have the paper rather than an electronic ledger entry).
.
Please show me the battery you built or antiseptic potion you created with your PMs. We will all be waiting.
The physical gold and silver we all have sitting in our safes is all worthless if we can't find someone to trade it with.
Knowledge is the enemy of fear
The full faith and credit of the US Government is a real thing, not just an emotion or wish. It is the power to tax, which is very real.
Quick devaluation is the real fear. Slow devaluation is what we have had since the founding of the republic. It is no one's interest to have a rapid devaluation.
So what you're saying is that our money is backed by what the government is able to take from us. Makes sense.
Said the frog to the boiling kettle.
ZeroHedge makes debut at White House press corps briefing
.
Your contention is absurd that I personally have to use it myself for it to have any utilitarian value.
The utilitarian value is there regardless of who uses it.
But I have personally used silver and gold for electrical applications. For example, I have gold-plated some electrical connections. I have used silver and gold to make jewelry and commemorative medals for people and events. Collodial silver (antiseptic) can be made fairly easily by anyone.
Due to the utilitarian value, there will always be someone to trade with so long as humans and an economy still exist. Gold is the only thing that has remained a medium of exchange for 5,000 years.
You do not speak for anyone else on this forum, so it is entirely bogus to claim that "we will all be waiting".
.
.
>
No, your contention is absurd. All i said is unless you have someone to trade your PMs with then it is worthless. It will just sit there in your safe. If you want to acquire something else with it, whether it be a cow, a car, a house or a haircut, then you must find a another, a counter-party. If you cannot find a another, or another who agrees with the valuation you place on your PMs, then you made no trade amd failed to acquire you intended need or want. Your PMs have no value. Your trinkets have no value unless you find someone to exchange something else for them.
But you want to go off on some anti-septic nonsense. You really need to try harder.
And we're waiting...even you.
Knowledge is the enemy of fear
.
Silver is the best (non-toxic) topical antibiotic there is.
If you think modern medicine is "nonsense" then maybe you would like the old days of bloodletting and witch doctors ?
I don't think you understand what "utilitarian value" or "worth" really means.
By your logic, your land (if you have any) is worthless if you can not find anyone to sell or trade it to.
Your vehicles (in which you have claimed to have driven more miles that myself) are worthless without someone to sell or trade with.
Is your pet dog (if you have one) worthless ?
To you, it seems that "worth" only applies to what you can sell something for. Sad.
.
It doesn't seem slow if you've lived over half a century. Median U.S. home price was $19,000 in '64 when I was born. Median U.S. home price today is $419,000. That's rapid devaluation of our currency coupled with insane increases in home valuations. Both courtesy of our Federal Reserve cartel. May the rich be ever richer! Woo Hoo!
Dude....if you use gold in an electronic, you are no longer selling gold, but an electronic.
If you use silver in some concoction then you are no longer selling silver, but a concoction.
The PMs in your safe are worthless, unless you find a counter-party to trade with. Just like you needed a counter-party to take your PMs to build the electronic or make your concoction.
When did I say modern medicine is nonsense. What kind of gaslighting is that?
And yes, I do have land. And it provides me with water, heat, food and shelter. I dont have to trade it or sell it to anyone to benefit my life. PMs sitting in your safe do none of that.
I do appreciate you being my little troll although you do sadden me.
Knowledge is the enemy of fear
I remember a gospel song about "end times" and one line was "a piece of bread could buy a bag of gold". What will be the attraction of gold in a truly collapsed society? In ancient times the fact that you could own a metal that doesn't tarnish, and wear it around your neck, said that you had the means to own something purely for symbolic reasons. So gold became associated with status and became attractive to people aspiring to show status by either wearing it or by giving it away. I wonder if gold would lose its value until society regained some type of organization? It might be that owning chickens might be a better bet in a collapse. 😉
In a truly collapsed society I think brass and lead will become the most valuable metals. 😉
Philippians 4:4-7
.
Once again, the electrical item that I repaired by gold-plating the connections is not for sale, and does not have to be sold for me to get the utilitarian value out of it.
My collection of items is relatively small and not extremely valuable. But I do get some enjoyment out of owning it and I consider that as part of the "utilitarian" value of it, regardless of whether or not there are any buyers for it.
You wrote exactly this:
.
No amount of gold will save you if the currency of this once great nation ever collapses. Plan accordingly. SMPR! RGDS!!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
😁 I agree. Let's hope we don't have to actually put it to the test
Again, where did I say modern medicine isnonsense.
I dub thee, Sir Gaslighter!!
You must be exhausted.
Knowledge is the enemy of fear
.
You called anti-septics "nonsense".
In case you weren't aware of it, antibiotics and antiseptics are one of the most important advancements in all of modern medicine.
.
In other news: I have traders everyday for gold and silver. These people actually use instruments of debt ( FRNs and bank checks ) to deal in. Sometimes I process plastic but it makes the real money ( metal) more expensive. Counter party risk ? For me, yes. I’m giving up the lawful money ( silver and gold) for paper ( instruments of debt) that’s been legalized as a substitute for the real deal. Speaking of science …..
No, Sir Gaslighter, I said your deviation of the thread into anti-septics was nonsense.
BtW--- anti-septics have been around for 150 years. Hardly modern medicine.
https://artsci.case.edu/dittrick/online-exhibits/explore-the-artifacts/carbolic/#:~:text=In the late 1860s, Joseph,began winning acceptance around 1876.
So, how much gold would one need to survive a collapse in the dollar?
Knowledge is the enemy of fear
.
It was one of several examples of a utilitarian use for silver at home (without buying or selling), and also it was a legitimate topic for this thread.
You chose to focus on it disproportionately (and continue to do so).
.
It's required for tax payments, interest and principal payments on all debts denominated in USD (domestic and international), anyone who is a recipient of US (federal, state, and local) transfer payments, and anyone who does business with or works for any US government entity (federal, state, or local).
That's not chump change. It's trillions of dollars, a sizeable proportion of the economy.
Agree, which is why I'll take the "under" on hyperinflation as first choice US elites will choose for the disaster in the making. They have the most to lose and aren't about to voluntarily destroy the currency for any reason I've ever read here.
Power to tax is part of US "hard power". All states have it, just not equally. Ignore it at your peril.
That does not make it "backed" by anything. That simply make it an accepted form of payment. Faith keeps dollars circulating. When that faith is gone no one will want them and no one will accept them accept a dying payment system.
ZeroHedge makes debut at White House press corps briefing
The sources I listed create demand for the currency. Thart's the point. Those who live in the US will have to accept it as long as the US remains a viable state, enforced by hard power.
The value is another thing entirely but then, silver as of right now is still worth 28% less than it was in 1980, but somehow, you don't mention that.
demand for a piece of paper does not guarantee (back) the value of that piece of paper. The reason there is demand for dollars is because, like gold, there is faith a private party that will accept it for something of value. What separates gold from dollars is their supply and the ability to create one from nothing.
ZeroHedge makes debut at White House press corps briefing
Wonder if my ass won’t take it.
What makes gold or any other PM "backing" the dollar ?
As WCC has said....we have debts and bills and obligations denominated in dollars.
Americans need dollars to buy food, to pay their rent, to buy gasoline, to pay off bills. Having an ounce of gold or a block of silver is NOT going to help settle debts or purchases with 99% of the people you run into in the course of a year.
A currency is alive until it dies.
ZeroHedge makes debut at White House press corps briefing
It is backed by politicians' promises. I believe we all are aware of what they are worth!