Liquidating your stack during fiat hyperinflation (a thought experiment)

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OldGarandDad

On the bottom shelf
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A thought experiment for you all, given that your domestic fiat currency has crashed like in Zimbabwe, Argentina or Venezuela which items in your stack go out first for liquidation to buy everyday necessities?

Here’s my order of liquidation with junk/scrap jewelry going out first:
  1. Junk/scrap jewelry
  2. Junk/cull coinage
  3. Non-numismatic coinage
  4. Generic rounds/bars
  5. Exchange recognized (premium) rounds bars
  6. Foreign bullion coinage
  7. Domestic bullion coinage
  8. Foreign numismatic coinage
  9. Domestic numismatic coinage
  10. The wife’s near and dear, sentimental jewelry
Do a mix as circumstances permit or purchase warrants?

Do you burn through your silver stockpile first before gold or do a mix depending upon the circumstances?

Some things I have learned from people who have been in similar positions, The author of The Modern Survival Manual: Surviving the Economic Collapse highly recommends never sell to the same dealer more than twice in any period of time. First, the dealer may start to take advantage of you and second criminals watch who goes to those dealers. If you develop a pattern, those criminals may think you have a hoard they can steal from you.

Another recommendation was to never redeem too much PMs for fiat. If you only have a one ounce bullion coin, cut it up, take the loss on the bullion premium and sell it in pieces as needed. Never hold fiat unless you have to.

Definitely an interesting book. A little dated now but still lots of good advice.

So what is your strategy on the above? What would you do different? I may swap items 3 & 4 but so far the order of precedence seems to be fairly logical.
 
... The author of The Modern Survival Manual: Surviving the Economic Collapse highly recommends ...

I remember reading Ferfals' blog circa 2008. He shared his experience going through a SHTF situation in Argentina. His blog is still readable for anyone with lots of time on their hands:

http://ferfal.blogspot.com/2008/ (read the old posts before he started writing books - it provides an interesting perspective on things)
 
I remember reading Ferfals' blog circa 2008. He shared his experience going through a SHTF situation in Argentina. His blog is still readable for anyone with lots of time on their hands:

http://ferfal.blogspot.com/2008/ (read the old posts before he started writing books - it provides an interesting perspective on things)

I have the entire Ferfal as a pdf... will try to remember to upload when I can.
 
yeah I remember ferfal being a regular source of chat on the early survival / prepper sites.

I still have a fair number of bic lighters in stock as a result of following him.
Have had to ditch the porrige oats and basmati rice though
oh and the soup and milk powder from Y2K 🤡
 
Plant fruit trees and grow your own food. Food will be better barter items IMO. The last thing I want to do is unload my precious metals for anything consumable. Good farmland maybe. food or gas, probably not.
 
We live in a small town with growers bringing food into town weekly in exchange for cash. I would not mind exchanging barter items (junk silver, rounds, small bars, some ammo, or other services, etc.) for fresh meat, eggs, and produce. We do have a small garden and my wife cans just about everything including meats and stews. We have a ton of FD food, which I loaded up on during Y2K, in storage away from our home. We plan on sharing with friends and family. Curly
 
From the article:
"...North is not the only Y2K “expert” that was pushing a hidden agenda now almost two decades ago. Pat Boone’s emergence as a spokesperson for the “non-profit” National Educational Taskforce, or Y2KNET, a shill site for coin specialists Swiss America Trading, had taken many by surprise as well. Y2KNET was founded by Swiss America, an organization that sells gold, silver, and platinum coins to individuals who freaked about a potential global monetary crisis."...
SCAM ? No, not really. On January 24. 2000 Spot Price of gold was $284. and change.
If you had bought for protection and still have it congratulations! You've made out.
Earlier than 2000. I bought my first gold eagle from a Art Bell sponsor. I forget the name of the guy, but "...Trading..." was in its name. $245.00 for the $20.00 piece at the time.
In 2007 I got in a financial crunch and had to sell that $20.00 piece. I got $1,100.00 for it.
Buy and Hold has worked for me especially in personal hard times.
I see no scam except for those called "Flippers".
"Bears Make Money Bulls Make Money, Hogs Get Slaughtered".
 
@Goldbrix - had 2 friends (RIP) who worked for the DOD back then. One dealt with computers, the other supply. I asked both of them what they thought and what they knew. Both told me that there was nothing to worry about and said nothing was going to happen. Nothing did. They told me that the gov had worked on things to make sure everything would be ok. Guess they knew what they were talking about.

I think a lot of people may like to believe that they're "in the know" about certain things and they're part of something. All well and good. But my thing is to live a normal life, hope for the best and prepare for the worst the best as you can, given your own unique set of circumstances.

I started reading and learning about survivalism back in the late 60's - early 70's. Back in the days of Robert Depugh & the minutemen, the Spotlight newsletter, the JBS was selling copies of "None Dare Call It Conspiracy", Paladin Press, etc. Learned a lot about doing certain things, but a lot of the things they said was going to happen never did. So I simply developed my own philosophy.

Besides.............being prepared is simply smart. No one knows what tomorrow will bring. But you shouldn't go around with the Sword of Damocles hanging over your head. Not good. And life is way too short for that.
 
Re: thought experiment in the OP - my intentions with my stacks is to hold until after a reset. I do not want/plan to liquidate during hyperinflation/SHTF. I hope to survive the dark times and enjoy the light when the sun shines again.
 
The software problem prior to Y2K was fixed ahead of schedule.

Curly
 
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The software problem prior to Y2K was fixed ahead of schedule.

Curly
Was it even a problem ?
a friend who had an early understanding of pootery things said to us ‘ set your computer date beyond the 1/1 /00 date and see what happens.
in every case I know of, nothing happened …….
But I was ready for aeroplanes falling out of the sky as I had bought my first stash of survival food 😂
 
Re: thought experiment in the OP - my intentions with my stacks is to hold until after a reset. I do not want/plan to liquidate during hyperinflation/SHTF. I hope to survive the dark times and enjoy the light when the sun shines again.
That's the plan. I began implementing it in 1980.
 
Was it even a problem ?...

It was a problem in software that actually stored dates in a 2 digit year format and where dates were central to data interactions. I don't know about critical systems for NASA, DOD, Fed/Treasury, etc., but a lot of software I dealt with back then actually stored dates internally with a robust, full date format and just chose to display dates on the screen with a 2 digit format. Software like that had to be updated to allow correct inputs for year 2000, but it wasn't really a doomsday type issue (and very easy to fix).
 
It was a problem in software that actually stored dates in a 2 digit year format and where dates were central to data interactions. I don't know about critical systems for NASA, DOD, Fed/Treasury, etc., but a lot of software I dealt with back then actually stored dates internally with a robust, full date format and just chose to display dates on the screen with a 2 digit format. Software like that had to be updated to allow correct inputs for year 2000, but it wasn't really a doomsday type issue (and very easy to fix).

Easy? Who did you work for? I worked for Intel 10 years in Fab 11. A software failure in a $1 billion+ factory with an electric bill of $1 million a day would have been a disaster! Intel spent $300 million and started 6 months ahead. A software engineer friend worked for National Semiconductor back then. He said he had to fix "glitches" and began working two years out. He didn't say what his company spent. Another circuit design engineer recently retired from ONN Semiconductor in Pocatello where he worked for decades and agrees with my assessment.
 
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Easy? ...

What I was saying is that fixing a UI (display/formatting) issue is/was easy.

Fixing/changing a DB and or code performing calculations on dates is a much bigger job.
 
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