Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG (MODERATED) Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG (MODERATED)

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From: manothelake	9/27/2013 11:56:29 AM
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I share your concerns about storing bullion, either gold or silver, but I would have strong reservations about storing it in any bank safety deposit box. If the economy tanks I think the ATMs would stop working and the banks would suspend operations, and nobody would accept credit cards. This leaves the average Joe with nothing to use as a currency. It could be as much as several months before the economy resets. Personally, I think it is better to have a secure and secret location to keep money/bullion. I believe that even after the banks and ATMs shut down, greenbacks would still retain some value, but prices would be grossly inflated using paper until it became worthless. It isn't generating any interest in the bank so you might as well stash a moderate amount at home. Silver and gold is a currency that will increase in value. It's like anything else, only have what you intend to use when you go out, don't be flashy, and don't let anyone other than your trusted loved ones know where the stash is. I'm not really a paranoid and don't expect a complete societal breakdown, but I think a private secure location is preferable to the bank. Just my opinion.

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