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Surprisingly there is a lot of debate about investing in gold and silver for preppers to stockpile for any SHTF event or economic collapse, I can’t tell you how many times I hear “you can’t eat gold.” While this might be true in the literal sense, you can turn gold and silver into food and other supplies.

Keep in mind, I’m not talking about a short term disasters, in these scenarios precious metals will only be as valuable as the demand is, if no one in your area wants gold or silver it doesn’t matter what the going rate is.

I’m also not saying that it should be purchased instead of other supplies, it should be purchased in addition to your other preparedness needs. Food and water could be in very short supply and it doesn’t matter how much gold you have if there is nothing to buy with it or nobody wants it.

If you do decide to invest in gold and silver make sure you have all of your other bases covered first, make sure you and your family have the basics down and can survive for at least a month without any outside assistance before you even think about purchasing gold or silver.

In this podcast we talk about the what, when and why of purchasing gold and silver, as well as why it’s a good investment in your future regardless if nothing happens at all.

Think about it, when you are dead and gone your family members are going to come in and divide up your belongings. Who is going to be happier, the person getting the year supply of food storage or the person getting the gold and silver?

Let’s say you are still alive and kicking but you are living on social security, wouldn’t it be nice to have a little something set aside to add to that. And let’s be honest, who knows if we will even get social security when the time comes…I’m not counting on it.

To me investing in gold and silver is one of the things we can do like becoming more healthy, even if nothing happens during our lifetime we have set ourselves up to live a better life, and that’s what prepping is all about.

This excerpt from alternet.org explains what happens to our money once we GIVE it to the bank…

“Although few depositors realize it, legally the bank owns the depositor’s funds as soon as they are put in the bank. Our money becomes the banks, and we become unsecured creditors holding IOUs or promises to pay.”

Information like this makes me want to take every penny I have out of the bank and stuff it under the mattress, but that is just not possible, and it’s not very smart either. Having large amounts of cash laying around the house will open you up to the possibility of theft, and with the ability to pay just about any bill online it’s far easier to plug in your credit card number on a website than to send a stamped envelope like the good old days.

You still need cash: Remember, we are talking about a long term event here, and even if the economy tanks cash will still initially hold some value. Let’s say that there is some sort of grid down event that causes and economic crisis, The plastic we hold in our wallets or purses will be useless, the ATM’s will be useless and we will probably have little luck withdrawing money from the bank.

Having a few hundred dollars (or whatever you can afford) on hand will literally be the difference between you being able to purchase what you need and standing there helpless wondering what to do next.

I always carry a small amount of cash in my wallet just for this reason, as a matter of fact the same bills have been there for over 2 years now.