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Sunday, June 20, 2010

Urban Survival Planning - Reader question on Gold received the following question from Jeff in New Jersey:
"Reference to your post Urban Survival - The Coming Economic Collapse Report June 2010,....So what are you saying here? Buy Gold? How much is enough?"

UrbanMan reply: While I am no economist, I do try to make sense out of all the financial indicators out there. Talk of a double dip recession is all over the place. Some people think that Gold make hit $10,000 an ounce. Central banks have reportedly bought more gold last year (425 tons) than at any other time since 1964.
Gold production is no higher now than it was a decade ago and has fallen somewhat in 5 of the past 8 years.

We believe in planning and preparation across all likely scenarios. It is very likely that we'll hit a recession and inflation will be the result, making your money buy less and Gold buy more. If it is bad enough, fiat currency, you know those dollar bills in your pocket? may not be taken in trade. We want to be prepared for that But we are primarily holding Gold and Silver in preparation for a total collapse of our society, be it through a economic crisis, natural mega-disaster(s), nuclear or dirty bomb strike or pandemic disease.

How much is enough? Obviously your personal finances and desire level of preparation will dictate how much you can buy. To tell you the truth, I have very little gold. I have most of my precious metals (PM's) in Silver, both bullion in the form of one ounce rounds and U.S. coins for silver melt value.

I look for the government to try and confiscate gold and silver bullion once again. In the mean time as I finish off with my priority list of Urban Survival Tasks and preparation measures, I'll get around to buying for silver,..maybe some gold if I can afford it. I can afford to concentrate on other Survival Tasks right now, as I have a decent amount of Silver put away, but if you haven't started procuring Gold or Silver yet, then you really need to consider doing so. Even a small amount a month, like purchasing a couple Silver Rounds every pay period would be a start. That's what we started Jim (from Survival Chronicles of Jim) doing and he reports a substantial peace of mind even with the small amount he has.

Stay Safe, Stay Prepared.

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