Tuesday, April 29, 2014

Apocalyptic dreaming

One of my favorite coin related forums is Modern Coin Mart. It's an unusual experience: unlike many forums, it's almost completely free of acrimony. I'm not saying that everyone always agrees, but that the disagreements are civil and even friendly.  There's no bullying, no "better than thou" put downs - it's a very polite forum.

It's also unusual in that a large percentage of its members are "stackers" rather than coin collectors. Stackers buy precious metals.  Some buy coins too, and the forum has plenty of numismatic topics, but stackers talk about rounds and bars and how silver is going to rise again (they hope).

Some see silver and gold as an investment, some see it as a hedge against inflation and some seem to be traders and speculators, jumping in and out as markets rise and fall. For others, however, there's another reason to buy precious metal: they believe that our economy will soon collapse and that the U.S. dollar will be worthless.

Sometimes that belief almost seems to be longing. I'm not saying that they want their non-stacking friends and neighbors to be destroyed financially, but that there is a twinge of religious fervor here. Like the crazies who pop up now and then insisting that Jesus and the Resurrection are coming THIS YEAR, these financial collapse believers are doing more than hedging their bets: they are certain that collapse is imminent.

Well, I can't say that's impossible, can I?  In fact, the relative probability is a heck of a lot better than angels swooping down with swords to slay the wicked. It is at least something that could happen, right?  I can certainly see a perfect storm of natural disasters and political mishaps that could trigger such a thing.  I can also see me picking next weeks Mega Millions number, but I'm not really expecting either one.

These folks are expecting it and when it happens, they'll have gold and silver assets. They won't be penniless - well, they will be, just as you and I will be, but they'll have gold and silver to barter with. They'll survive the economic and societal collapse of civilization.

Well, unless they don't survive the roving gangs of murderous thugs, the polluted water, poisoned food and raging disease that would accompany such a collapse.  I'm sure some of them have thought about all that too and are stacking canned goods right beside their silver bars - google "survivalist planning".

Shrug.  I insure my house against fire.  It's not really any different, is it? You and I have home insurance and mutual funds, they have stacks of shiny metal and soup. Same thing, really.

Note:  All my coins are in a safe deposit box.  I keep nothing in my home. 

This week's Coinweek Giveaway: http://www.coinweek.com/~cd535e2d686a500

No comments:

Post a Comment