"Once the fiat currencies of the world begin to fail, we will be forced to return to a barter system to keep an economy going."
Why wouldn't people just use cryptos like bitcoin? Precious metals are very impractical for the average person when it comes to storage and security. Cryptos are much more convenient for transactions, especially cross-broders transfers.
True, but crypto isn't really a physical investment and let's say that there is a cyber attack or something like that and all of your cryptos aren't accessible anymore, what the hell are you going to do? That is what makes silver so valuable is it is used in most things like electronics, construction, even some electricity conducting clotheing, etc. It is an asset you can hold.
IF there is a cyber attack of such severity that the entire internet is shut down, precious metals won't save you. You would only be able to barter with those in your surroundings.
In that kind of scenario, canned food, ammo, alcohol...etc, will be usefull and practical.
The other "issue" with precious metals is that the supply is not limited and quantifieable like it is in bitcoin. There is always new silver being mined and nobody can predict the rates at which this supply comes into the markets.
I agree that silver is better than fiat, but it's just not practical in our digitized, global economy.
My 2 Satoshi.
They will save you. You can build and engineer with silver and create things like radios and communication devices from it, or use it to conduct electricity. And with a value like that, silver can be bartered and will be worth something if something like a cyber attack or an economic collapse were to happen. It has uses.
I agree that silver has its uses - no argument there. I'm just saying in a collapse scenario like the one you postulate in your post, you will have to first secure your silver from thieves and gangs.
If you want to know what kind of world you would be looking at, watch The Road, starring Viggo Mortensen.
I've seen the road, great film, and that scenario is why you buy guns and have a place to hide your silver.
14yo schooling a tech wizard ;)
Like you, I am in BOTH Silver (& Gold) and CRYPTOS!
Cryptos can make a comeback after a collapse, IMO.
But it might be a while, depending upon the Type and severity of the collapse. Certain pure Economic Collapse scenarios are very very favorable for BTC and other cryptos, but PMs will also rise wildly in most of these. Again, I am heavy into BOTH. But most SHTF, TEOTWAWKI and WROL scenarios heavily favor PMs. My "preps" for any and all collapses are weighted thus: