The myth that stocking gold and other precious metals as a survival tool is perpetuated by survival blogs and message boards. Common sense shows that’s not a good idea and your hard earned money is better spent on food and gear.
3 Reasons Against Precious Metals
Long Term Use
First, let’s look at history. You can study any group in the history of the world and see that gold, or any other currency, was never used until well after there was a stable and functioning society, usually with some form of government. Before that there is simply no need. People trade.
In the aftermath of any situation the most valuable commodities are going to be food, water, clothing, other things that human beings need for their immediate survival.
Invest in something you can actually use or people will actually want.
Prepare In Order
Some people will say: “Sure, it may take a while, but eventually precious metals will be currency”
I agree, but my question is, “How long will that take?” Does that mean you already have EVERYTHING you need to survive in the YEARS until then? I sure don’t.
If I made massive list of everything I wanted to prepare and it was in order of importance, precious metals would near the very bottom, somewhere around “Plans to build a printing press” and a copy of John Locke’s Treatise On Government (all useful in a budding society, not so much for survival).
Common sense says you should prepare for what you will need first.
Cash Still Works
Let’s be honest, the most likely survival situation you will find yourself in will be regional. A massive flood, hurricane, or earthquake. What does that mean?
The rest of the world still takes cash.
I wrote about this in detail here: 7 Reason to Have Money In Your Bug Out Bag.
Level of Reason
After writing this I found out there are some other common sense survivalists out there who agree:
The Suburban Survivalist thinks along the same lines: Precious Metals Post-TEOTWAWKI; I Don’t Buy It
What level of preparedness would you like to achieve before you are comfortable spending money on stocking precious metals?