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Hello Fernando,I found your book on the Internet and plan on buying it this weekend. Can you tell me where to store gold and silver if there was to be a collapse in my country?Thanks,Kristen
Hi Kirsten, the best way to store precious metals
during times of both civil unrest and times when you may need to access
your precious metals fast is keeping them at home in a small, hidden
safe. You may have to grab it quickly one day to bug out or use it
frequently for payments during tough times. Some people will just hide
it well or burry it. If you do that then make sure you remember where.
Lots of houses have money or jewelry somewhere that was at one time
hidden so as to keep it safe, only to be lost because the owners forgot
about it or just hid it too well. Because of this, I believe a small
safe hidden under the floor or behind a removable dry wall panel is a
better idea.
Stack-On PDS-500 Drawer Safe with Electronic Lock
Stack-On PDS-500 Drawer Safe with Electronic Lock
There’s cases in which people held hostage by home
invaders have been tortured into revealing every bit of hidden cash in
the house. Lets just hope none of us ever has to go through that.
Dear Ferfal,Discovered your blog a couple weeks ago. Fascinating reading. We have been to Argentina several times- first in 1995 & last in 2007. Not a fan of BA or any big city, but we enjoy steam trains & rode the Patagonian Express 5 times Jacobacci to Esquel. Liked Esquel but being there in a hotel is not like living in a country.Sad to hear what is happening to Argentina. We were in Jacobacci Nov 2007 the night Mrs K was elected. Big political rally & we thought it best to stay away.Our question is now that Argentina does not allow its citizens to own gold or foreign currency, what about silver?Regards,Barbara & Steve
Hi guys, yes as of a few weeks ago its just no
longer possible to buy gold and silver through the legal channels. After
the ban on foreign currency, most of all targeting the UsD, people
turned to gold and silver as protection from inflation. At first there
was a limit on how much you could buy, 100gr. a day, then they downright
banned precious metals entirely. The Argentine government doesn’t like
the word “ban”, so they are calling it a “suspension” for now. Either
way, you cant buy it.
Hello,Is it worth it to buy silver and or gold now?Were people able to sell their silver or gold for the new currency if there was one after the Argentine crash?I am in the u.s. I just want to be prepared.Thanks,Jose
Hi Jose, once you have your basic preps taken care of,
including a small stash of cash for emergencies, yes, it does make
sense. Yes, people were able to sell it afterwards, either on the
official brokers or on the streets (much worse price though). Its now
happening again that people tried to find shelter from the imminent
default and the yearly inflation in precious metals. To avoid this, the
government “suspended” the sale of precious metals.
When making up your mind between gold and silver,
do keep in mind the weight issue. At first silver sounds much better,
but it gets to a point where the weight of your silver is
considerable. In a worst case event, you may have to leave fast with as
little weight as possible, and gold in that case is much lighter per
equal value.
FerFAL
FerFAL
5 comments:
I have a similar Stack-On safe. It's junk. It wouldn't last five minutes against a thief. And most of the other cheap brands are no better.
Here is a good YouTube video by a locksmith showing just how easy it is to get into one of these with only simple tools.
http://www.youtube.com/watch?v=D2Wzt0vJvOI
I fully support getting a small safe for important documents, precious metals, etc., but I think getting a cheap safe is almost worse than having none at all because it gives false peace of mind.
Hi, I agree up to a point. Mostly the problem is that ANY small safe can be stolen entirelry and then opened with power tools. The trick is keeping it well concealed. As for good safes, the only way to go is big and heavy (ammo gets heavy fast, but oyu need a big safe) a safe that is bolted and will on its own require 3 people to move it will provide better protection. So you have to go either big and heavy, or small and well hidden.
Fernando - I make a large proportion of my income via the stock trade.
It's not 100% on topic, but since we're talking gold (an investment), do you have any insight to share about what happens to traders in a collapse?
I don't mean so much what happens to the markets as what happens to the actual trading process - i.e. commissions go up, trading becomes less available etc.
Thanks in advance.
Re Anon at Dec 4 , 5:16 AM--
we already talked about safes a couples of months ago --see
http://ferfal.blogspot.com/2012/05/home-safe.html
including comments. The last commenter made a good point about ratings -- a local locksmith can tell you more.
There is an argument for something with 2 feet of concrete wrapped around it --but obviously you can't have that in a fifth story apartment. And in a suburban home, thieves obviously know to check the ground/basement floor. Plus if you get hit with Hurricane Sandy, your basement floods and the lock rusts then you will need to bring in a jackhammer to get lunch money. To each his own.
One thing to watch out for with small safes is the Underwriters rating for fire protection if you store paper currency --not really a concern if you store gold unless you worry about coins being melted down.
PS
One argument for going with the small, well hidden route is that there are hundreds of places in a house to store a small box --but only a few places for a big heavy safe. The one job bigger than dealing with a big heavy safe is taking a house apart to find a small , concealed one. Starting, for example, with taking all the insulation out of the attic and going on from there to removing the interior walls.
Plus the small, well hidden approach lets you split up your assets among multiple locations --instead of having all of them in a big safe that may or may not resist an attack.
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