Tuesday, September 16, 2008

Tangibles

Michael and Mayberry reminded us yesterday that we need to invest in tangibles. Over the last few months I've managed to set aside a chunk of my savings into food, weapons, and supplies. Not that I had much in the way of savings to begin with. Matter 'o' fact, my 401(k) is down 25% for the year... oh well.

Silver is down to $10 an ounce. And I'd buy some if I could find some. I checked 2 coin shops, and they wanted $30 an ounce for their junk silver... you kidding me?

This weekend the search goes south, to Rhode Island. I figure I have $100 I got from the change jar, so it would be a good idea to have some silver, just in case. I'm not going nuts and dropping all my $ into silver, I just figure it might be handy to have some, in case I need something and cannot barter for it.

Looks like the market bounced back some. I half expected this, as a lot of people will buy the stocks that are down figuring they will go up. I expect this to be a short rally. Let's see dropped 500 points yesterday, up 130 points today... so a net loss of 370 points. Our economic trouble is getting nothing but worse.

Make sure you have cash on hand. If the FDIC grabs your bank you are screwed! I don't have as much as I would like, but I am putting $20 cash a week aside in my safe at the house.

Get some silver. (IF you can find it!) I wouldn't go crazy, here until you have a months worth of cash in the house. Keep saving Federal Reserve Notes, but once in a while get a few ounces of silver too. It will add up over time.

Cut back on spending. Go to the movies, but sneak in your drinks and snacks. Eat at home instead of a fancy dinner. Bring your lunch to work instead of going to a fast-food place.

If you are just starting, don't lose hope. invest extra money into the following (in order):
water storage
Food
Medicine
Protection - (quality firearm with safety instruction)
Money - Mix cash with some silver.

Focus on the basics to keep your family fed and secure. After you have the basics covered then you can invest in a broader plan including ham radios rad detectors, etc. There are plenty of sites for the advanced stuff, if you need help post a comment!

Everyone else bust out the popcorn, I think the previews are over and the main feature is about to roll!

3 comments:

daddynewton said...

ebay is an excellent source for junk coins. during the week is better than weekend for finding deals.i got 2 morgan dollars for 14 a piece last night.gl

theotherryan said...

The junk silver market is pretty dry these days for those who can't afford 100 dollar face bags or larger. One ounce rounds are delayed at a lot of places right now but unless you think the world is going to fall apart in the next month or so that isn't a big issue. Get a month worth of cash expenses at home in mixed (5,10,20,50, 100's) bills before putting much into silver. I look at metals as the inflation proof component of my overall investment and preps plan.

western mass. man said...

I too have been looking for junk silver. I and a co-worker have been looking around and have been told, "Sorry, I'm not selling junk silver."
One of the coin shops on the other side of town was selling junk silver by the bag 2 months ago.
My guess is that they are holding it in their safe till the price goes up.

Ebay is a good spot for silver/gold, but they are a little high compared to spot price than factor in shipping.
I guess, 6 of one, half dozen of another.