[rangerone314]

When it becomes apparent that it is about to hit the fan with peak oil economically, what should one do financially?

I am personally planning 2009 as a year when I stockpile ETFs in Oil, like ticker USO.

I figure when TSHTF I need to sell all ETFs and stocks take profits as get cash, but then I should use the cash to buy something tangible.

Should it be gold, silver, what?

[outcast]

Bullets always work.

[eXpat]

Oil, food, ammo, candles, tools. Goods that you can barter with and are truly essential. Gold is too big for everyday goods, and both metals, gold and silver are for a very special type of clientele, the one that has a huge surplus and wants to convert it to metals.

[Don35]

Yeah, same question I've been debating. So far I'm doing some of each: gold and silver, the same oil ETF (USO) and another energy ETF, food, land and planting stuff as fast as possible, ammo, etc. Don't know which will be the best so I toss some money at all of them. Hopefully that's enough to make it. Good luck!

[Hermes]

I recommend only focusing on Precious Metals (PM's) if you're

A: not ABLE to be rooted in one spot for some reason (like you are a traveling hitchhiker or homeless), and therefore you wouldn't have a good spot to store your Food/Water/Shelter prep gear...

or B: sufficiently done with other preps that you're comfortable taking a percentage of your money and turning it into PM's

If A or B are not the case (which I would guess) then I suggest on first taking whatever money you do have and working on beefing up your Food/Water/Shelter needs. Then once you have about 6 months of those secured for yourself (should cost in the neighborhood of $1-2K) then I'd augment your Energy/Community/Security needs along with the first three. After you are starting to feel you've taken care of those six pretty well for the next few years, ONLY THEN would I personally suggest looking into PM's.

Yes, I know that they're poised to shoot up in value... but so is a loaf of bread... and a lot of the time I think bread is going to appreciate in value more than PM's will actually. And as they say - you can't eat gold.

[rangerone314]

I did think of a few odd items to stockpile as opposed to the usual food, gold & bullets...

Black pepper, cocoa and to a lesser extent, salt.

Pepper and cocoa will be too expensive, unavailable or BOTH in a peak oil world yet one may still find a few people willing to trade for them.

[Arsenal]

I did think of a few odd items to stockpile as opposed to the usual food, gold & bullets...

Black pepper, cocoa and to a lesser extent, salt.

Pepper and cocoa will be too expensive, unavailable or BOTH in a peak oil world yet one may still find a few people willing to trade for them.

+1

Also any quality hand tools. One of my goals is to get into blacksmithing/metal repair which means stocking a lot of round stock and other metals.

[misterno]

Buy call options of crude oil

Right now strike price $110 call options expiring december 2017 is selling for 10 bucks

so if oil hits around expiration to $200 your option will worth $90

you invested 10 earned 90

you owe me a lunch by the way

[vtsnowedin]

Whiskey
Rum
Black powder
Smokless powder
Primers
percussion caps
Bolts of cloth both cotton and wool
felt
leather
needles and thread
pigs of lead
hand saw blades
hand files
canning jar lids and rings
aspirin
axe heads and hammer heads
steel plates and bars
hand tools

[Ludi]

Useful skills

[eastbay]

How about popcorn. I mean, unpopped popcorn.

[Nefarious]

to a lesser extent, salt.

I think you greatly underestimate the value of salt. I have over 200lbs of salt and will more than double that before years end in 09. I will still wonder if that will be adequate.

[Don35]

to a lesser extent, salt.

I think you greatly underestimate the value of salt. I have over 200lbs of salt and will more than double that before years end in 09. I will still wonder if that will be adequate.

Yes! Salt doesn't occur naturally anywhere close to me. Isn't that one of the things pioneers always traded for?

[sameu]

why is salt so important?

[Heineken]

why is salt so important?

Food preservation.

[Nefarious]

Heineken is right it is a key player in food preservation,especially when it comes to meat. If you want to preserve that hog that was recently slaughtered and you don't have a freezer you are going to need salt. It was the way sailors preserved and stored their meat in ocean crossings. Early english settlements kept their meat in salt barrels.
Salt is also an antiseptic. It can be used to clean wounds, although It would be painfull as hell but better than gangrene setting in. Also brushing you teeth with salt works when there isn't any tooth paste around. Gargling with warm salt water to ease a sore throat.
Salt has thousands of uses and I sure can't name them all but it is a key staple in my preps and I value it a hell of alot more than cocoa.

[rangerone314]

to a lesser extent, salt.

I think you greatly underestimate the value of salt. I have over 200lbs of salt and will more than double that before years end in 09. I will still wonder if that will be adequate.

Actually not entirely... it is just that I'm not that far from the Atlantic and salt could be traded for... more locally than could pepper & cocoa which come from the tropics...

But you are right about salt being valuable... moreso if you are in the desert, but I'm in Maryland...