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Random63
15 years ago

I don’t smoke, but I am stockpiling cartons of cigarettes and many other commodities in order to use for barter and to hold the value of my money. I don’t keep my most of my money in the bank or in Federal Reserve notes for longer than overnight. I’ve joked with my significant other that my new career is going to be a black marketer and sometimes I think it might come to that.

I agree it is good to have some cash on hand, but I think that most of your wealth should be in many different and varied forms of commodities. Gardens, guns, gold, silver, cigs, etc. Anything that can be traded, bartered, or sold. As long as it cannot be traced by the government and taxed.

Who is John Galt?

Be safe and well.

Matt
Matt
15 years ago

Sadly, I agree with your view of financial advisors. I work in the securities industry and even though all the advisors I know are good, decent people, they know virtually nothing about security analysis, accounting or finance.

Dan Hunter
Dan Hunter
15 years ago

My granfather had one firearm a pre 64 mod 70 WINCHESTER in 30-06.Used it for deer hunting and coyotes.

David
15 years ago

Unfortunately, most financial advisers aren\’t independent thinkers in that they tend to see things within the framework of a system that is seriously messed up, but shielded from view of the masses by it\’s sheer complexity- like what occurs within the body of a cancer patient who isn\’t yet aware of his disease, and if made aware, would still be in denial.

stevec
stevec
15 years ago

2 Quick points………..
1) Silver is also alot less likely to be confiscated than gold….It is easier to do small to midsize transactions in silver… Also because it is less valuable it is less likely to be “recovered” from its industrial uses than gold…IE gold mined and used industrially will be reclaimed – silver mined and used industrially will may be discarded (if reclamation is not economically viable).
2) Some down sides with owning property (and I own 2 1/3 acres)is it not a portable asset. Its lacks financial privacy (property records are public record)….It is taxed and regulated by the government (which can become defacto government ownership). It is subject to attachment by civil court judgments….Which is easier to collect – a 50K J where you can file a lien on a property or a 50K J where the judgment debtor has assets to satify the J in gold bullion that he can put in a suitcase and liquidate for cash anywhere worldwide…..We’ve seen KELO…and we’ve seen total abuse of “asset forfeiture laws.” Say a hemp plant is found in some acreage of JS’s BOL –oooops, there goes the property. Don’t be surprised if these small towns start “White Gloving” residential or rural property owners when the revenue (read tax)stream dries up.

SteveC

agentem
agentem
15 years ago

I am really getting skeptical of gold lately. I started buying after 9/11 and watched it shoot straight up since. Now I have started to see late night commercials peddling gold as an investment, which really sets off my danger indicator. I think that gold could still shoot up, but I also think that much of the increase has already happened.

I agree with Rogers on Silver valuations.

agentem
agentem
15 years ago

Furthermore, learn the laws when buying country real estate. Back in Wisconsin, where I am originally from, many of the counties have started passing laws which require a parcel to be 35 acres or larger for a landowner to place a new home on the property. Here’s an article describing the principle:
http://www.galesburg.com/homepage/x1059362026
While this is good for people who want to limit their neighbors, it can be troublesome for the owner of 5 acres in some areas who want to build a house.

Archer
Archer
15 years ago

Great podcast Jack! I’m glad you mentioned bees as a possible investment. You can also use beeswax for candles which can be very useful or a good barter item. Let me know if you need input from a (beginning) beekeeper.

alphachicken
alphachicken
15 years ago

I agree that it’s a good idea to plant fruit trees, grapes, berries, and nuts, and I have done so. However, here in rural upstate NY, we cannot count on yearly harvests. Late frosts have a negative impact, and we also contend with deer, rabbits, woodchucks, and birds. The animals do not seem to mind eating almost-ripe fruit and berries. It can be frustrating!

Keep up the good work with the podcasts; they are useful.

Cat Ellis
Cat Ellis
15 years ago

Jack, thanks so much for highlighting some of the benefits of keeping bees. We’ve been keeping bees for a while now, and it’s one of the best things we’ve ever done. It’s right up there with buying land in Maine and getting started on building our cabin.

We’re at a point in our beekeeping where we have enough honey on a consistent basis to sell at farmers’ markets (still leaving us enough to make mead). We also get enough wax to make enough taper and tea-light candles to light our home in the winter. Next year, we will have enough hives to offer polination services, and will ultimately get into queen rearing and selling bees as well.

Honey is amazing. It can be used for so many things. It can be used in place of sugar in baking and preserving food, is antibacterial and can be used to prevent infection in cuts and wounds, nakes excellent home remedies for cough and colds, and can treat a number of skin conditions, especially acne.

While honey and wax could be a very valuable items for barter, polination services could also be very valuable. Nothing polinates like a honey be. While we will always grow as much food as we can, but I would be happy to trade polination for additional food.

Jack (or anyone else here), if you’d like any help/advice setting up a beeyard, just ask. We’d love to see more individuals keeping bees.