Would you go all in?

Hypothetically, you live in Scandinavia and have half your savings is in PMs and half in ones and zeroes in the bank. Would you go all in on PMs?

Presumably, the reason you might go all in on PMs is fear of a banking collapse or theft. In that case, PMs would function great as a store of wealth, but it might be a while before payment systems matured for PM commerce to be commonplace. This is why I would think it's a good idea to invest in land, tools and BSTS stuff to live through any catastrophe that might send your locality into a middle ages barter economy. Even having cash on hand (ie. not digital ones and zeros) would be a good idea if you were "just" facing an extended bank holiday and not a complete collapse of local payment systems.

No never go all-in.
Depending on the size of your cash reserves, you could put some money in to cash-flowing assets like real estate or even undervalued stocks (not the right timing for them now, though)

apart from some land which I can play on and my various 'bunkers' and my tanks of agricultural diesel, I have been 'all in' for a couple of years ..........

and in fiat terms it hasnt been a great strategy for this time but my reason for doing this was / is primarily because I believe everything I read on the internet

So the considered opinion of all those regular 'gold bug' commentators had me expecting a complete collapse of unbacked currencies at any moment and to be fair, current events in euroland still create the feeling that its possible.

On top of that I have had no real urge to get back into owning a house.
Ive done all that stuff and couldnt really see the point of lots of bedrooms and having lots of space to heat and have really rather enjoyed the somewhat unusual bunker lifestyle that being single after many years being 'normal' has allowed.

And its also allowed me to 'test' myself to see how detached I could be from my life savings, in the event tshtf and I became permanently separated from my stash.
I now believe I can walk away and enjoy life regardless of the stack and actually dont give a shit if it all vaporises .............

I wonder how many can do that ? :wave:

I'll second without hesitation swissaustrian, never go all in. Sweden has officially entered deflation, so cash at hand might present some great opportunities at some stage ahead. I personally think about (and work towards) being 1/3 land/smallholding (and that one with leverage, unfortunately - but hey, remember, evolution works that way, that you don't need to outrun sabretooth tiger, you only need to outrun the second slowest person in your pack - i.e., if you leverage yourself carefully and wisely to buy your land, and then SHTF, and you get stressed financially - the governmet(s) will be forced to "do something about it" much sooner than you will be evicted, I think - all kinds of Joneses will be long time gone, before you get seriously pressed yourself...), 1/3 PMs, 1/3 cash. I still am not convinced hyperinflation is to be expected anytime soon - people just dont have any cash to bid prices up. There will be time, to get out of paper and get some amazing deals in the process, IMHO. BTW, both farmland and gold, do very well in both inflationary, and deflationary collapses, it would seem.

Thanks for all the good advice, guys. "Hypothetically", I think I will keep the things the way they are, but convert a portion of the ones and zeros into physical paper because screw the banks.

Buying property is not an option now because the housing/property market in Sweden hasn't popped yet, so I would be buying at the top.

rblong2us, the currency collapse could still happen. You know it will one day. It's just a question of when. Max Keisar is betting on next month

mike said:

rblong2us, the currency collapse could still happen. You know it will one day. It's just a question of when. Max Keisar is betting on next month

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ah good ole Max :rotflmbo:

My 50kg purchase of silver is still down by around £8k and JP Morgan are still in business ..........

perhaps I shoulda bought more of his 'sink the morgue' silver :flail:

Next month it is then ....... a bit like my mates Iraqi Dinar revaluation :rotflmbo:

I told him it probably would revalue just as the banks got their looong 'holiday'

You can console yourself with the fact that you will be able to transfer all of that wealth to your kids tax free.

As long as you get your estate plan together there Max.

I've been reading into this and found an article which said if you stored your PMs in a safety deposit box with only a will it could be held in probate and cataloged for tax purposes.

So unless you are leaving your kids a treasure map.

-Q

MasterQ said:

...
I've been reading into this and found an article which said if you stored your PMs in a safety deposit box with only a will it could be held in probate and cataloged for tax purposes.
...

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Safety deposit boxes are not without risks.

Tough question to answer without a clear frame of reference.

In a cascading fiat collapse......absolutely.
Extreme, regime changing civil unrest? Absolutely.

MasterQ said:

As long as you get your estate plan together there Max.

I've been reading into this and found an article which said if you stored your PMs in a safety deposit box with only a will it could be held in probate and cataloged for tax purposes.

So unless you are leaving your kids a treasure map.

-Q

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You don't have to wait until you die. Just give them your hoard when you get old. Or if you're worried about an untimely death, make sure they know where you keep it.

A treasure map would be pretty epic though.

you need to work a deal with your offspring that rewards them for keeping you alive and cheerful

seen too many family bustups where money and stuff was being sorted out and one epic time when they had borrowed from the bank in expectation that granny would deliver ....
she did ....... to the donkey sanctury !!

Never go all in in a single commodity or group of commodities. Spread the wealth around a bit. You never know for sure which will be your salvation when TSHTF.

Cash? No more than 6 months in the bank. And at least a month's worth on hand. Everything else in hard assets of various kinds, not all in a single hard asset.

Some of the hard assets should be liquid should you need to sell them fast. The rest can be anything including PMs.

No matter what, except for cash, nothing should be in the bank. If you can't get to your stash, it is useless to you. Witness Cyprus. And know that sooner or later Cyprus is coming here. Maybe not tomorrow, maybe not next week, maybe not next year, but sooner or later.

mike said:

rblong2us, the currency collapse could still happen. You know it will one day. It's just a question of when. Max Keisar is betting on next month

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heh he shoulda mentioned the currency he was referring to :rotflmbo: