Comments on: 10 Secret Places For Storing Your Gold

By: GOLD

GOLD — Fri, 13 Nov 2009 07:38:22 +0000

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By: MoneyEnergy

MoneyEnergy — Tue, 20 Oct 2009 18:31:07 +0000

@SimpleLlama – I think that’s precisely the case for gold – it can’t be printed. Sure, rocks can’t be printed, either, but they’re everywhere. Gold isn’t. It also can’t be easily counterfeited, if at all. And it has unique properties among the rare metals which make it special, so that was probably its original intrinsic source of intrigue/value.

By: Simple Llama

Simple Llama — Tue, 20 Oct 2009 15:01:32 +0000

@Paul The survivalist crazies ( almost hate to call em that, but some of them are downright wacko ) do have a great point in stocking gold. If “TSHTF” really happens here in full force, the dollar becomes nearly worthless, and traditional places to buy things go away, gold ( and more importantly silver ) will probably become invaluable.

Farmer Joe isn’t likely to accept worthless federal reserve notes for a bushel of corn. After all, there are dollars everywhere, and he can’t spend em for anything. But silver or gold, he might consider very strongly, since he can spend them elsewhere. Money that can’t be printed to infinity has a ton of value, even if we’ve temporarily lost sight of that.

Will that crazy scenario ever happen? Who knows. But covering our heads and saying “it can’t happen here” probably isn’t the best way to prepare ;)

By: Simple Llama

Simple Llama — Tue, 20 Oct 2009 14:57:50 +0000

I like the ideas for non-traditional hiding places. The best advice is at the end, and the way I’ve heard it said is “Loose lips sink ships.” Talking about any gold / silver / platinum /other precious metal purchase is the surest, fastest way to ensure that you are robbed and lose that metal.

Sure, the person you mention it to may not steal it. But if you tell one person, chances are he tells his buddy, who knows a guy who just got out of jail for armed robbery, etc. Not only could you lose your gold, your family could be in very real danger. So to sum it up, buy what you want, hide it well, and shut up about it :)

By: Paul @ FiscalGeek

Paul @ FiscalGeek — Tue, 20 Oct 2009 05:03:55 +0000

Kyle, me too I work with several of them who would definitely be in this category, I hear about gold all day long and they are definitely gun fanatics. If I really believed in more survival type scenarios I’d be stocking up on basic resources, guns, ammo, fuel and EMP hardened vehicles not gold bars, but to each his or her own.

By: Matt SF

Matt SF — Tue, 20 Oct 2009 04:37:36 +0000

Hey, if the doom & gloom soothsayers are right… a few gold coins worth of beef jerky, a double barreled shotgun and the log cabin might be the way to go. (There goes my inner redneck talking trash again!)

Personally, I’m neutral on gold. Can’t short it because it might go to $2000, and can’t buy it here because it’s deviated so far from the trendline. Plus, the Fed is beginning to get some media pressure to protect the USD, and if they cave and raise rates, probably won’t be pretty for gold.

Call me a stick in the mud, but for my risk profile, the risk/reward ratio just isn’t there.

By: MoneyEnergy

MoneyEnergy — Tue, 20 Oct 2009 03:55:55 +0000

@Matt – I’m learning, too, that there is a coincedence between those two groups – or at least, some of those two groups. But if we did a Venn diagram they’d wouldn’t perfectly overlap at all. And look at me, I’m a gold bull, but not a gold bug, and you’ll never find me advocating keeping firearms in the house. But I’m Canadian, and there’s another correlation….:) I also advocate some survivalist preparation techniques, but I’m not waiting for the Rapture or anything like that, either… so no, I don’t have a cabin in the woods with a store of beef jerky (I’m vegetarian anyway):)

By: Matt SF

Matt SF — Tue, 20 Oct 2009 02:13:26 +0000

@ Paul & @ Kyle

I hate to stereotype, but there does appear to be a fairly strong correlation between folks who own an above quantity of gold as well as owning a firearm. Not trying to be a wiseacre, but just saying that both the firearm group and gold bull group appear to travel along parallel paths.

By: Kyle

Kyle — Mon, 19 Oct 2009 23:17:27 +0000

@Paul the funny thing about that comment is the only person I know who makes it a habit of buying gold and silver coins probably does keep them
in his gun case with the assault and sniper rifles. No sane person would ever try to take them from him.

By: MoneyEnergy

MoneyEnergy — Mon, 19 Oct 2009 23:14:07 +0000

@Matt – I think I originally got the freezer idea from FrugalDad, in his post about where to keep extra cash around your house (see, I’m not the only one thinking of hiding places:))