SBSS 7. The Historical Case For $960 Silver

47 comments to SBSS 7. The Historical Case For $960 Silver

  • Jeff Stein

    YouTube is still processing :/ /me awaits on edge of seat

  • Heward

    Excellent video. The ounces to # of days’ work is a powerful motivator for stacking as many as you can. I’m forwarding this right away.

    • Andy in the UK

      I second that!

      Also, I am fully confident that the Chinese and Indians (and increasingly other nations) are well aware that Silver is ‘worth’ significantly more than $30 – $40 per t/oz it is curently being traded at. As long as the cartel prevent true price discovery we can expect these ‘aware’ nations to be exchanging their dollars and euros for as much physical metal as they can get their hands on – they have no incentive to push for true price discovery until all physical supply has been gobbled up.

      Interestingly, I recently heard the analyst Ned Naylor-Leyland speculate that China have used their US treasury bonds and other US dollar denominated reserves as ‘security’ to purchase various ‘commodities’ (my interpretation was Gold, Silver, rare earths, and oil). If true this would be a very clever way of the Chinese extracting themselves from these depreciating pieces of paper without instantly crashing the US economy by dumping them on the open market.

      I expect we will not actually discover what Silver is truely worth until after we have a major currency event. It would be nice to see Silver valued realistically in this paradigm but I suspect we shall have to wait for the new economic paradigm.

      Finally, just as a point of interest / reference, there are many people here in the UK so keen to exchange the British Pound for Silver (and Gold) that premiums of up to 50% over spot are now common (the norm in fact) on major bullion coins such as the British Brittannia, the US Eagle, The Canadian Maple, and the Australian Kookabura. I recently picked up a couple of Maples for £28 each ($45 USD) and regarded them as a real bargain.

      Keep staking whilst you can, common coins will become short everywhere soon, perhaps even later this year, and even a 50% premium for physical over ‘paper spot’ will seem undervalued.

  • Great video. Far and Away is one of my favorite movies. Coach David

  • Oz's

    Again…another great piece.

    If I follow your logic:
    If I have say have 500oz’s it = 15yrs earnings for the world median gross income.

    The folks here, if I may be so bold, are middle “class” who earn median $40,000.00pa
    If their labour were actualized in the manner you are pitching…then

    15 x $40k = $600k / 500ozs = $1200 per oz…Happy days!

    Sadly, unless Rothschild Inc are beheaded en masse, this will never happen, the will kill us or confiscate PM’s, easy for them to do so.

    Keep up the good work buddy.

    • Irving14941

      Nah, they won’t confiscate it from us. Average person has 100 oz or so. They’re not going to spend all that time and effort invading people’s houses to find something that probably is or isn’t there.

      Plus, the American population is armed to the teeth. You really think they’ll expend such military resources for each individual house hold? No. They’re going to go after the big guys/players and big vaults where silver is guaranteed to be there.

      • Silver Shield

        Confiscate wealth through inflation… yes.
        Confiscate pensions through nationalizations… yes.
        Confiscate property through eminent domain… yes.
        Confiscate mines… yes.
        Confiscate large depositories of silver… yes.

        Confiscate hidden, divided, small silver stashes from aware and prepared individuals, armed to the teeth and the will to protect their life, liberty and the pursuit of happiness… not a chance in hell.

        • Andy in the UK

          The issue of fiat currency collapse (and the protection of wealth through Gold and Silver) is a global issue, so in matters relating to precious metals (and also in matters related to being awake and prepared) I do not feel like I am treading on too many toes by visiting this site and even leaving comments.

          I am however conscious that the gun / freedom / defense situation is primarily a US problem, and that I dont really have any business commenting on what is primarily the business and concern of US citizens, but that said, and at the risk of getting the ‘keyboard equivilent’ of a punch to the nose, I do have a question to ask:

          Would you really be willing to open fire / use other force on a cop in uniform, or a soldier in uniform, if they knocked on the front door and presented a legal warrant to search for and collect (for reasons of national security etc) precious metals?

          If this search was carried out at random, in a non-intimadating way, was done on a ‘legal’ basis, and primarily in ‘middle-class’ neighbourhoods, I very much doubt that even ‘aware and prepared’ people would use such force to prevent a search (especially if the use of force would invite and bring down the even greater use of force by the state upon the person and or their family).

          From experience in the UK (a completely disarmed state where the possession of even air-guns and blow pipes – yes a ‘real’ blow pipe is classified as a ‘lethal barreled weapon’ in the UK – is highly restricted, and firearms are very few and far between in civillian hands) the population have been ‘conditioned’ not to resist the Police or Military. This conditioning has been so successful that the normal beat cop in the UK can not only patrol but also execute warrants and arrest criminals without carrying a firearm.

          I wonder to what extent this conditioning extends to the US population?
          Also, just how many people would actually fight with a cop carrying a warrant, or engage a soldier carrying out executive orders?

          I appreciate that I may be stirring up a hornets nest, however as an outsider, talk of potentially getting involved in fire-fights with your own country men seems very worrying. Would it not be best to simply have a secret cache of arms and ammo and secret stash of food and Silver away from your main dwelling and ‘allow’ a search / confiscation of decoy weapons / decoy metals?

          Answer my questions or tell me to foxtrot oscar – its up to you, but either way best wishes from across the Atlantic.

          • Paranoid

            I think very different in US. Yes we have a lot of sheep people, but they have no arms or silver. The ones who are armed have far more fire power than the police or even the army, assuming Nukes don’t count, and I don’t think they do.
            The police are getting more and more Army like and they cannot even control most of the cities. Millions of people in this country have permits to carry conceiled weapons, In several states you don’t even need one to carry,open or conceiled. Not worried, push comes to shove, the police are mostly on the publics side, Gov knows it, Army also. Gov starts to get far out of hand they will discover we all know what Mark Twain said 100 years ago is true: “America has no native criminal class, save Congress”

          • aurochs

            Hi Andy. Your presence and questions are welcome here (if I may speak for others.) Your question is a good one. One that many of us Yanks think about more and more often these days. You have to understand that distrust of and resistance to government in general and tyranny specifically are basic to the American identity. You Europeans have a couple thousand years or more of being subjects of an elite class. You STILL live that way. Subjugation to a class of ‘superior human beings’ seems to be part of your identity. But America was born of the malcontents of that system in the first place. Those of you who could not or would not conform to the peasant mentality left Europe and came to the wilderness of America to live free or die. We were born in armed revolt to what we considered tyranny. Our identity as Americans is one of armed citizens resisting the ‘lawful’ authority in uniform at our door. So the answer to your question is YES and YES and YES. There are millions of us prepared to fight and die on our front stoops to defend our freedom. We’ve been loosing it by increments for 150 years and there is precious little actual liberty left but many many of us do know what it is a we want it back. “Live free or die” isn’t just a quaint historical reference to a great many of us. Firearms are the tools that were required to gain our freedom from the old European paridigm in the first place and our founding fathers knew that the tools of resistance against tyranny were ultimately the last resort of an opressed people. When they come for my guns I will know that they want me at their complete mercy and I am about to become a slave. I will not do so willingly. So it is with the fruit of my labor, that is my silver. No man has the right to take my labor against my will. That would be slavery and I will not go willingly into slavery. Come for my guns or my silver and there is no ‘legal authority’ about it. Rights do not come from men, they come from God. I have a right to my life and I have the right to defend it, and by God I will.

          • Andy, this forum does not have national boundaries. I consider your opinions and questions valuable.

            I am a big Sci-Fi fan. A few years ago there was a British TV show called Torchwood (a Dr. Who spin-off) that was imported to the US (Showtime). In Torchwood there was a scene where the government ordered all those about to die to be collected and incinerated. This was done by the legislature claiming that it was a world emergency. In a scene, Gwenn Cooper (one of the characters) had hidden her ailing father in the basement behind a false partition. The police brought in a thermal imaging app (yes, a freaking Iphone App) and found her father. She sat there frustrated and powerless while the police collected her father and took him to the incinerators.

            As I watched the scene I asked myself how many Americans would permit such a thing to happen. To my despair I realized that way to many would.

            In the US there are basically three types: The Sheeple, The Law Abiding Citizen and the Aware.

            The Sheeple own no silver. They go thru their lives worrying about the Kardashians, Dances with the former Stars and Sunday Football.

            The Law Abiding Citizen may have silver, but it is in the form of SLV (paper assets) carefully tucked away in a 401K. He would never reject a lawful order from the police (driving after drinking at the local Sports Bar doesn’t count). At most, they would raise a stink and try to use the “legal” system to recover their silver.

            The Aware have silver (and gold, and guns) and the moment such a law is passed would bury or hide it.

            At the end of the day, this is what would happen. The government would first “secure” 401Ks as part of the Social Security “trust” fund and “guarantee” a retirement income. Is for your own safety, dontcha know! Then, they would make PMs illegal to own and offer to buy them for “credits” into the Social Security “trust” fund.

            After certain date, they would declare them illegal and place hefty fines for possession or traffic in PMs followed by strict reporting guidelines for former PM dealers and pawnshops.

            I doubt that the .gov would try to confiscate. They don’t really care that you have it as long as you can’t use it.

          • JBIKER

            Good points all. your last statement probably sums up the prevailing sentiment . if you’ve been prepping for longer than 2 years , this was/is a given fact ! The old statement of all your eggs in 1 basket sort of thing, The caveat tho is the form of communication between people in your area and it’s speed when that sort of visit occurs. The object being that 1 or 5 house’s will get hit , but then everyone know’s what occurring and has adhered to the S.O.P. This side of the pond ,I believe those sort’s of preparations have been in place for a LONG time ! So , my question is , Haven’t you and your’s also done so ??

          • lastmanstanding

            Aurochs…Many millions are with us…and they know it…stand with God.

          • Rufus Thirteen

            Hi Andy,

            No problem. I’m going to trade some rolls of 40% silver (1965-1970 Kennedy half dollars) for a case of .223 tomorrow. Woo-hoo! Working on another deal to trade some scrap sterling for four BP 80W solar panels. A little diversification is good, right?

            When door-to-door or house-to-house searches for PM’s, firearms, food stores, ammunition is done in the name of Officialdom (looting under color of law), there is no longer Law. You are absolved from obeying or complying. Rule .308 applies.

            Our police and military know this. There is no legitimate reason to disarm groups of Americans in their homes.

            Of course we have firearms, as good as a regular patrol car carries, in quantity, with lots of spares/accessories and reloads. We are also better marksmen than many non-elite police officers (not a high bar), and must be because there is no resupply.

            If the word is that surrender is not allowed, escape is not possible, then fight. Thin them out for the next battle that you won’t be able to attend.

            Don’t be a looter: you don’t have to because you have food/water/fuel/etc. to get by on.

            If Britons don’t think they can fight back, consider how ragtag IRA part-timers tormented professional British Army troops for a century, or how a few dozen starved Jews held off the German Army for weeks in Warsaw. It’s not that most of them escaped or lived nice lives afterward, but they made the bastards pay. This had to be the sentiment of peasant VietNamese who knew French soldiers, German soldiers, American soldier, Chinese equipment, ON HIS LAND. Pashtun Afghans are making the US pay for every foot taken during the day, to re-take it for free after dark and emplace IED’s & EFP’s.

            This isn’t how I hope it goes. I’d prefer to be backing up the police, my neighbors, keeping them safe and figuring out what next. There aren’t many police officers or sheriff deputies or State police patrolmen compared to gang members or population (detoxing from their official mind-control med’s within a few weeks, hungry, no booze or pot to mellow out with) at large. Having a uniformed officer in your neighborhood as a representative of what-law-there-is might be very useful to re-organization groups, and getting necessary things done. We have “emergency response” people for disasters, but they don’t have recognized LE capacity with uniform/badge/gun, just suggestions and a little swag.

            Portland Oregon

          • Andy in the UK

            Thank you for taking the time to give such great replies to my questions – it puts in perspective just how subjugated (in mindest at least) most people in the UK have become in comparison with people from the US.

            The mindset of the average Joe here in the UK is a real concern to me. I often wonder how few would even question an authority figure calling at their house and ‘inviting’ their whole family to take a seat on the back of the truck parked outside…..

            I have had many ‘what would you do if…’ conversations with otherwise very well educated and intelligent people and have real cause for concern by their answers. Some people can not even think outside the box long enough to even contemplate certain ‘what if’ scenarios.

            Yes of course, there are many very aware, prepared, and capable people over here, I would be doing a real disservice to those people if I painted a picture of an island inhabited only by sheep, but from my experience there are not nearly enough to make a difference on any scale larger than taking care of themselves and / or their immediate families. Perhaps thats the best anyone can really only hope for – to be sufficiently aware and prepared to take care of yourself and your family.

            Anyway, looking in from outside it does appear that the US has been set up to take a fall, and a hard one at that. I just hope the US doesn’t have to suffer the bloody tribulations that Europe has been put through over the centuries before the nation can get back on its feet and start to walk the straight path again.

            God bless.

            • WightSparky

              Hi Andy, I also in he UK read your comments with interest (coincidently also named Andy). I agree that the US has been set up for a great fall. The establishment is coming down hard on American citizens and I guess it would be becuase there is a lot more to lose to bring America down to a simular level as the UK as far as freedoms and to disarm the public.
              I have noticed the £ has lost more value in terms of Gold than the $ since 1967 and the recent QE’s by the Fed devaluating the $ and so obviously devaluating the £, on top of that BoE QE looks to be accellerating the fall of the £. I dont know how much lower it will go but there seems to be no end to it.
              Every time there has been a crisis where Gold peaked Silver has taken a late sharp increase almost matching Gold in percentage terms. Even with the VAT Silver is a bargain.

              For the sake of America and the rest of the World, Ron Paul has to WIN. As for the UK… UKIP.

          • John

            Hi Andy,
            Maybe this has been addressed already, I’m not reading every entry, but: Can you give me an example of why the government could/would show up on my doorstep under the pretense of “national security” to confiscate my silver? What legal authority could they possibly have? It’s my labor stored in that silver, and not for them to steal in any way shape or form. And a definite yes- I believe they would have a severe case of lead poisoning before leaving with my silver. Say NO to slavery. Live Free or Die.

            • Mustafa Cohen

              What legal authority could they possibly have?

              If I wanted your stuff, I’d make it legal for me to take your stuff. Only takes about what, 5 minutes, if I have legislative power.

              My second most important legal authority would be a drove of heavily armed men who can kill you, take anything they want, and be punished with a paid vacation.

              But my most important legal authority would be the fear and complacency of your neighbors.

              Remember Terminator? Laws are a box of roses to hide a shotgun.

          • High Plainsman

            Hi Andy,

            Judging by the responses you’ve received, so far, in response to your questions, I think it’s safe to say that many of us on this side of the Atlantic would enjoy tipping back several pints with you in the course of a good discussion.

            I would only like to add / strongly suggest that it is ALL of us of like-mind across our entire world that must do what we can within our own immediate circles to reassert our “collective” individual liberties and demonstrate – by commensurate and appropriate means – to our elected representatives that they have stepped way over the line in assuming to much authority that absolutely does not belong to them.

            World history abounds with examples of a small percentage of individuals – of like mind and spirit – banding together against all odds and accomplishing the impossible.

            Strictly for purposes of familiar example only, I point to the American Revolution. Most historians of the period generally agree that the active participants represented between 10% and no more then 20% of the colonial population! The vast majority of ‘Americans’ were indifferent and the rest remained loyal supporters of the crown and its representatives.

            Another point that most historians generally agree on is that England at the time was certainly most capable and had an abundance of resources to permanently put down the ‘insurrection’ any time that they chose to do so. However, England terribly misjudged the self-sustaining spirit and capabilities of the American Revolution’s “10%ers” – or as Cornwallis called them ‘farmers with pitchforks’ – who actually carried and fired their weapons against the forces of the Crown.

            Had the “10%ers” lost faith in their cause at any point before the Battle of Yorktown they would have lost everything and we would be driving on the “wrong side of the road” in the States, today.

            The point I am trying to illustrate is that very little CAN & DOES accomplish a lot up to and including ‘the impossible’. Our shared world history is record to that fact. Further, no matter what condition, limited resources, or societal constraints we find ourselves with at the begining of the ‘great endeavour’, the most important thing is that we accept it AND WE BEGIN with what we have at hand, even if the only thing at hand is a creative and resourceful mind combined with an unyielding spirit.

            None of us, who have commented here, have advocated for or expressed support of disrespecting Lawful Authority at anytime but, when the people to whom WE’VE collectively and temporarily granted some of OUR authority in order to exercise it efficently – on our behalf for the benefit of the whole comunity – ceases to exercise that authority lawfully and begins to abuse our God given individual liberties and freedom, then their words, declarations, laws, and orders no longer are lawful and do not carry any weight and must be strongly opposed.

            ‘Uniforms’ are not authority. There purpose is two-fold. One half is for the purpose of “I.D.” – which can represent Lawful Authority when the Authority is acting lawfully. The other half is a “psychological tool” for fear, coersion, compliance.

            Between the “Patriot Act”, signed into [law] by President G.W. Bush, the “National Affordable Health Care Act and, the very recent “National Defense Authorization Act”, signed into [law] by Presidnet Obama, together they represent the most frightening assaults on law abiding U.S. citizens’ individual liberties and freedoms as enshrined in the Supreme Law of our land – the U.S. Constitution and the Bill of Right in the Preamble.

            These three [laws] are effectively declaring any lawful U.S. citizen a political enemy, ex post facto.

            Lawful U.S. citizens may now be subject to having their home, vehicle, phone, property and personal affects searched without warrant or any notice of occurance; they may be listed – without their knowledge – on ‘terrorist’ watch lists; they may be subdued and ‘indefinitely’ detained without the recourse of a Writ of Habeus Corpus; Roman Catholic institutions must now provide or make available to their employees or hospital patients – birth control devices and abortion services or face penalty of the law!

            These directly contradict our Constitution and its Bill of Rights!And I don’t care if they wear any kind of uniform when trying to enforce unconstitutional [laws]. They have no authority. Therefore, no compliance. Period.

            Having run way long-in-the-tooth, I think two quotes, from two older movies, sum it nicely:

            ‘Open Range’ with Kevin Costner & Robert Duval – “…Some things gnaw at a man that are much worse then the thought of dying.”

            ‘Braveheart’ – “…Aye, fight and you may die. Run and you may live. But many years from now, when you’re old and dying in your bed, what would you give – from this day to that – for just one chance to comeback here today and tell Longshanks ‘You may take my life but, you will never take OUR FREEDOM!”

            • Andy in the UK

              Thanks again to all those who have taken the time to respond to my earlier comments. All comments up to 06-02-12 have been read and noted.

              It is heartening to know that there are so many good, awake, and deep thinking people on both sides of the Atlantic.

          • Justin Keith

            This is why being aware of what’s going on in the community ahead of time is useful. You don’t kill them when they come to your door (they will likely come with more people and armaments than you). You kill and ambush them when they start hassling your community (or even better, some other community).

            The best thing to have in a collapse scenario isn’t metal, it isn’t even weapons or food, though all three are necessary, it’s having people you can trust.

  • marz

    “It will be confiscated”, “You can´t eat silver”, “Where shall I keep it”, “Who will buy it from me”, “You made me buy at 40 and now is at 33″, “You need a lot of money for that”…It´s amazing, I hear/read the same blind and fearful sentences in Buenos Aires, Rome, Paris, USA. We need these great videos to be subtitled in as many languages as possible.

  • Mustafa Cohen

    Gold and silver will reach stratosphere only if/when their bulk is in rulers’ hands.

    Just think: Do they want to quit ruling? And how can they stay rulers, if they give away the power?

    If physical PMs can’t be shaken out of regular folks, something else will be used in their place – plutonium, orange juice, rocks from Mars. Anything that can be controlled.

    There will be no significant Ag and Au breakthroughs until, for example, Iran’s and Venezuela’s gold is liberated by the Empire.

    Please prove me wrong.

    • Silver Shield

      You give the Elite too much credit.

      Their power is derived off of people believing in their power.

      At some point humanity will see them as naked emperors.

      Real tangible wealth will find its true value because their fiat world will be shown as an unsustainable illusion.

      • Mustafa Cohen

        humanity will see them as naked emperors

        You may be too optimistic.

        Humanity wants an excuse to remain in the armchair, and the emperor delivers: “Stay in your armchair all you want, I respect your hard-earned rest. In exchange tell everyone what a nice dress I have, mmmmkay?”

        How do you reach these guys? How do you convince them that it’s better to work hard, but to own the results; to live a shorter life, but to live it; to have less, but to have it?

        Actually, I think I know the answer. They will either learn or die when their superstore is empty for a week.

        • Silver Shield

          Optimistic?

          Realistic.

          Mathematically inevitable collapse is guaranteed and things that cannot go on forever, won’t.

          A harsh reality will awaken the masses and the lies of the emperor will be laid bare.

  • Excellent description of evaluating silver. The day when its true value will been known is fast approaching. Clearly the fiat system is breaking down and nearing its end point and the only real alternative is silver & gold. Nice to know what 1 ounce of silver can obtain realistically.

  • Obamanke

    I believe that by the time government is going door to door to confiscate PMS the system will be entirely broken.The military and police will have realized by then that being paid in fiat to kick in fellow americans doors is not worth it.I am more concerned about roving bands of thugs.

  • Excellent, Chris. I’m also very very glad that you tagged the end with examples of 100oz and 10oz. I’ve noticed people get freaked out when I suggest 1000 oz to them – it’s really out of the price range of the working poor.

    Just one ounce is better than none; especially if it’s fractional and it’s easy to afford.

    If you’re in the UK try Sarnia Silver. Half ounce delivered to your door for around £14.50! Bargain for use Brits and a simple way to stash without your Mrs finding out :-)

    @Andy. There are sheeple and awakened everywhere in the world, and this thing will play out differently depending on your location. Stay clear of London – esp during the olympics, bud.

    Peace

    • Silver Shield

      I did that quite purposely as I believe ANY investment is silver no matter how small is better than none when this all goes down.

      • It’s what makes you different from other financially savvy types, Chris – recognizing the working poor are also human beings :-)

        I get lotsa emails recommended things way out of my price range such as monster boxes and the like.

        I made a significant purchase – hundreds of ounces – ONCE, and I doubt i’ll have the opportunity to do it again as it was my entire ISA account.

        I add with a few ounces each month. Every bit helps.

        Glad you’re ‘around’ during the paradigm shift, dude,

        Gotta love the internet at times.

        Peace

    • marz

      That´s just right. Everyone I talk to about Ag would be able to buy a few ounces only. This video series help me to use several perspectives according to the individual, in order to get through their (and my own) ignorance and fear. I see that some resonate when I speak about the 30 shekels/15 oz payed for Christ. Others with etymology (money, dollar, argent, soldi, dinero, plata, peso, pound, all mean piece of metal/solid weight, not coloured paper). Or the 10,000 industrial applications. In general, they have no time for long explanations and feel lost with big numbers (x million oz. production/x billion sold in derivatives/etc). I´ll add the hours of labour now.

    • Andy in the UK

      I hear what you are saying about London 2012. The occult symbolism and key dates have not gone unnoticed.

      Keep up the good work.

  • @Mustafa: Can’t prove you wrong. I reckon it’s the 1340′s all over again – just with a twist.

  • tommy

    What a great video! The wages during roman times were probably very accurate, but the average wage in America from 1800-1900 was approximately $1.20 for a non-farm worker ( from the NBER) National Bureau of Economic Research). Just google average wage 1800-1900. Using 1.20 per day and dividing the amount of silver in a 1 dollar coin (.77344 oz.) 1.20/.77344,we find that the average daily wage in silver was 1.55 ounce. At today’s approximate price of $34, we see that today, a worker would be earning $52.70. Using 260 days a year, shows a worker if paid in silver would be making $13,702. Since the average wage in the country is approximately twice this amount or $26,000, I would think that silver should double from these levels without regard to any higher inflation or fear etc.

    • BillybonesIII

      My dad was a goldminer in BC Cariboo in the 1930′s and 40′s earning around $4 a day when gold was at $35 troy oz. What’s it now? 1700+. What do miners get paid now?

  • Depourcq

    The ounce to the number of days worked is a very good starting point; however they did not say how much silver their was to fully make the comparison.

  • tommy

    Depourcq,—-Was your post about my analysis?

    tommy

  • Shmadam

    Correct me if I am wrong……..Any profit made on silver NOT from circulated coins IS TAXABLE. I collect junk/circulated silver. If they do confiscate, who are you going to sell/trade 100 ounce bars with, and for what huge purchases? The government won’t have to take your silver , they will just take 40% on taxes and most/lots of people will do it willingly. I think small coins will be the way to go. A 100 ounce bag of coins is pretty darn small, and tax free. The black market/barter world or should I say pure capitalism, will be best served with junk silver……….that’s my two cents, well two silver pennies worth much more.

  • Carl

    I like the comparison of wages in terms of silver from ancient Rome to today, but I have to point out a significant disparity. A Roman soldier or 19th century factory worker did not work to support the “wealth” or lifestyle many of us do now. (Most of my comments from here on out are U.S. centric) Sure, they paid for bread and a roof over their heads, clothed themselves and their children and maybe even had a little more for “fun”. Compare that to our lifestyle and your thousand ounces won’t go for 30 years even at $1000 an ounce.
    You have to eat -and a simple diet like the ancients had will keep you alive, but say goodbye to the copious amounts of meat, out of season fruits and vegetables and the myriad of “luxury” foods so most of us have at our fingertips even right now. Eating out will be even rarer occurrence.
    You have to have a roof over your head, but it probably will be a rented room, not your own house sitting on even a quarter acre.
    Doctor visits may be affordable, but the wildly expensive drugs and treatments (X-rays, MRI’s lab work) produced today will still be wildly expensive even in terms of ounces.
    Most people didn’t own horses / wagons back then. The cost of running and maintaining a car isn’t exactly a cheap date.
    Utilities did not exist. I could give up cable TV and internet easily enough, but do you want to go back to candles and outhouses?
    Clothing was meant to be durable and sturdy. You won’t be able to afford to maintain the number of pairs of shoes in the average American closet, much less the extensive wardrobe. Even the poor here in the US have more than one “outfit”.
    Travel was no less expensive despite the increased speed with which we do it now. Families used to work lifetimes in order to save enough for themselves or just their children to immigrate to somewhere with better opportunities.
    So I guess what I am saying is 1000 ounces isn’t as much as you think it is. A tenth of an ounce a day was a peasant’s wages. And most of us (Even the poor) have much more in common with the royalty of old than we do with the peasantry.
    Even given a hyper-inflation / collapse of the financial system situation the world will continue to turn, commerce will re-establish itself (If it ever stopped) and people will go about offering goods and services in exchange for “money” (We are betting PM’s) they can use to buy other goods and services. Your silver and gold stores are not going to make you “rich”. Hopefully they are enough to keep you and your family well fed and comfortable.
    Keep buying what you can, stack deep and hide it well. Even if they hold the system together for your lifetime, your kids and grandkids will thank you for it.

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  • [...] exchanging your fiat currency now for tangible assets – the most liquid and fungible being precious metals.  Interesting video about The Denarius. [...]

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