Economist David Morgan of The Morgan Report is one of the world’s best known silver investors. In the following interview with Future Money Trends Morgan discusses his personal experiences during the last major run-up in gold, when it hit a price of $850 in early 1980. As Morgan describes it, there was significant panic buying during that time period, and should central banks and governments continue on their current course, we’ll see a similar endgame play out this time around:
What’s good for gold is the end of empire… And we’ve got governments that are failing… When these bond markets blow up further, that’s when you’re going to see a run to gold than we’ve already seen…
Wait until the physical market freezes up, which could happen. I am not saying it would happen, but it could. With the worldwide demand and a failing currency across the world, where do you think people are going to go? They’re going to go to precious metals which have been trusted for thousands of years.
If that were to occur, and I think it could happen… could you imagine the amount of money sitting on the sidelines in a panic mode that would go into the mining shares? It’s incredible.
I saw it once… I saw what happened with gold and silver when it was a panic buy… My commodities broker was a woman. She worked for Dean Witter… She was very savvy… She would leave her office at lunchtime and go and buy gold at the local coin dealer… then after she closed her office she would stand outside her front door and sell gold coins to people who were lined up… believe it or not.
That’s the kind of frenzy you get at the top of the gold market.
In this must-watch interview David Morgan discusses long-term trends, short-term manipulation, market corrections, potential price points, the economy, and monetary machinations that could lead to widespread panic gold buying in the near future:
This market has done something similar [to 1980]… The upside is indeterminable… The reason you can say you can’t determine a paper price is we don’t know what’s going to happen to the fiat currency system… and depending on what takes place it may be meaningless to put a number on it… I’ll go along with Jim Rickards and the others saying $10,000… I’ll stay conservative and say $5,000…
This is not balance… this is not normal… this is abnormal… and nature hates imbalance and we are very, very imbalanced in almost any perspective. From the micro perspective of a single household to the macro perspective of a nation state… there is a day of reckoning and I think it’s coming sooner than later.
When that day of reckoning comes we could well see a major monetary event that leads to massive panic buying of precious metals. And if the general population is panic buying gold and silver, be ready for anything, because the system as we know it has likely come unhinged.
Visit Future Money Trends for more interviews and strategic ideas to grow your wealth.
To learn more about David Morgan visit his web site at The Morgan Report
Buy as much as you can while you can. Buy low sell high. The biggest fundamentals of investing.
So that is what i have been doing wrong. I have been selling low and buying high.
I’d be far more interested, if anyone could tell me how much bread or coffee an oz could buy than the dollar value.
This is definitely an interesting thought experiment. Because in the end, as David Morgan himself notes in this interview, the price is indeterminable in terms of dollars. And frankly, it almost doesn’t matter if we are talking about a situation where we have a hyperinflationary collapse similar to Venezuela, Argentina or Zimbabwe.
Thus, as you pointed out, the important thing here is HOW MUCH BREAD CAN I BUY?!
Putting dollar value and charts and all of that aside, the info we really want is what can I trade my gold for when it hits the fan?
There are some interesting resources out there with some great research on the subject.
Consider this: Back in the 1800’s when gold was pegged at $20, it could buy a decent suit. This has humorously been referred to as the Decent-Suit-To-Gold Ratio… Today, a one ounce gold coin trading at around $1300 will accomplish the same task. In fact, one could argue that you could by a couple of decent suits, so gold has out performed over the last couple hundred years from this perspective. Here’s some reading on that: http://seekingalpha.com/article/1320411-1-ounce-of-gold-and-a-decent-mens-suit
Of course, we can’t eat suits, so let’s look at hard commodities, specifically bread.
It has been said that 2,500 years ago one could spend an ounce of pure gold to buy 350 loaves of bread. This has been referred to as the Bread-To-Gold ratio.
Today, assuming a loaf of bread is somewhere around $3, you get almost the same amount of bread per ounce!
(Here is an article on gold-to-bread ratio, as well as other commodities: http://www.etf.com/sections/features-and-news/4690-gold-has-held-its-value-over-the-last-2500-years-fact-or-fiction)
When that endgame does play out, if dollars are a viable option for trade, you’d want to sell the gold, get cash, and immediately purchase whatever asset has depreciated (I am going to guess real estate, being a purely debt based asset in America, will have tanked and be very cheap).
If the dollar is hyperinflating daily, then selling for paper wouldn’t be the best of ideas. But one can assume that if things are THAT bad you’ll be able to trade directly for physical assets like land or commodities.
As a sidenote: According to Martin Armstrong, there were areas of the United States during the Great Depression where land was selling at 10 cents on the dollar — 90% off! Today a decent acre of land runs maybe $7500. Imagine getting that for $1000… Or perhaps trading one ounce of gold for 5 – 10 acres of land.
THAT is purchasing power!
Thanks for bringing this up Paranoid — it really is interesting to ponder, and it’s something all gold and silver investors should be thinking about. Have an exit plan for when the bubble top in precious metals approaches.
Agree with this article 100%. Well said Mac! When “Venezuela” comes to America, better have a good balance of stored hard commodities, mission-critical skills, BOL, precious metals, and barter goods…etc, etc
If there is a real SHTF from a Pole Shift, CME, Yellowstone, BIG ONE, or limited nuke attack,
” … the important thing here is HOW MUCH BREAD CAN I BUY?!”
You will need flour to bake your bread. In a Depression, which is not “economic collapse” bread will be baked by the people who do that now. Spend what money you may have for PROTEIN, not carbs.
Get a bread maker if you are a single man. Let her do it. 🙂
“Today a decent acre of land runs maybe $7500”
My land is $26,000 an acre, according to the accessor. Market has it at $55,000 per acre. I live out in the middle of nowhere. The Nailbanger guy’s property value is probably double per acre of mine. The real value is I can live here, feed and care for my extended family, and I really only have to worry about the government.
When SHTF my greatest loss will be FedEx, USPS, Walmart on-line, and Amazon. BTW none of them accept gold coin.
Land prices are relative. Sure if you buy an acre in Hawaii you will pay a premium. About $10K per acre where I am in FL Country, probably paid a little more than other parcels which go for $5K not far from me but they have less privacy, but this is very unique with fresh water on 3 sides as it is a peninsula on an island, off a private dirt road and end of the road in a private sub area, and backs up to miles of nature preserve. And I bid 25% less than they listed it for and got it.
If you want a cheap corner lot, by a stop sign and like to pick up trash and beer cans at the corner daily and hear cars hitting their breaks and zooming off, sure pay less. You have no privacy on 2 sides of your property with corner lots, and think about Feng shui when buying property. You don’t want to be at the dead end of the street stop sign where headlights pop into your bedroom at night that’s negative energy, as well as on the outside of a curved road as headlights will scan your entire property, keeping you awake all night as well as car crashes onto your property from people driving too fast on the curve. That’s all considered negative energy.
Take in many considerations when buying property or a BOL.
Rellik,biggest loss wally world/fed ex/amazon ect.?!You fail to mention the loss of the net and the scintillating conversations here at this Algonquin Round Table!
Thank for everything Mac.
1/10 oz silver has been the going rate for soldiers (Roman/Chinese(Sun Tzu))per day or a hard days labor.
The suit for gold holds pretty well, but if $50k/yr ($24/hr) is average salary (who are we kidding?) ,then daily salary is roughly $120 per 1/10oz silver or $1200/oz silver……
my bad, wrong link… This is it
Bad analogy. Bad math.
AS the PRICE of either silver or gold goes up, there will be fewer buyers for both as the Law of Supply & Demand kicks in; so it is not so neatly 45 to 1 as these guys would lead you to believe (erroneously).
Many miners are hoarding their production of both gold and silver to get a higher price for their inventory as the price rises due to a physical shortage of either.
Miners are not taxed upon their production, but upon the sale of their metals, so they can hold a portion of their production out of the market indefinitely.
When demand increases for these metals, large copper miners will kick in their second and/or third shifts to increase production of silver & gold, which are the “by-products” of copper production; increasing the supply of both silver and gold.
More BULLSHIT from the Metal Barron’s trying to get YOU to prop up their profits. 🙁
I would say that to back the debt of the dollar, Euro , etc. a massive revaluation would need to take place.
If fiat currency were to disappear and monetary metal(sound money) was the replacement, then the wealth potential (working, investing etc) for any person would average out to but ounces of gold or silver.
The dollar is already “backed” by the largest economy and most powerful military complex every assembled, and those, the most lethal weapons imaginable.
Not even the Chinese want a gold backed currency. They just want more influence and “Great Nation Status”. The PTB across the globe understand that the current system is the best invention since fire.
What you call “debt” the gangster banksters call “financial assets” and investors the world over stash their excess “wealth” which they cannot immediately use profitably into these financial assets (dollar denominated securities) that are MORE fungible than gold.
Its a great system if you are a player in the CLUB, but you must play by the RULES. If you do not play by the Rules, you wind up like Argentina, Brazil, and Venezuela.
Only war will change this system, as those who control it will not allow their vested interests to be undermined by outsiders (including all of you).
To those insane supporters (chicken littles) of SDR’s, please note that the Chinese just floated a $2 Billion dollar value issue of Yuan backed bonds with the approval of the IMF which is voter controlled by the USA.
$2 Billion worth of anything in the global financial system is parking meter money. That’s all. 🙂
Or perhaps trading one ounce of gold for 5 – 10 acres of land.
THAT is purchasing power!
In order to accomplish that feat of purchasing power you must first be in a position to do so by one’s acquisition of gold in physical form. It is all about opportunity, timing, patience, research and may involve risk.
Sun Tzu talks about being able to keep a man (Army) in the field for about 1/10 oz of silver per day. (3000 years ago) There are lots of charts showing the value of Silver over the last 500 years; but 500 years ago there was empty land everywhere, we bought the La purchase for less than 10C per Ac. During the Depression Ted Turner’s Dad?, bought large chunks of Montana for 50C per Ac. During the Depression hookers were 10C lots of places. (Called Desire and a dime) From the 1870S till 1941 a private in the Army got $18.75, room & Board per month. But most people lived under conditions I’d rather not. NO electricity, running water, toilets, air conditioning, etc.
So the question now is: How much Silver and Gold do I need to maintain a reasonable living? For my own use I have always figured out a reasonable amount is someplace between 50 and 500 times my fair share. Fair share equals all there is on earth divided by the number of people. But to be fair, I have decided to give up my share of the Sahara Desert, the Pacific and other oceans, most swamps and a lot of other stuff. Seems to come close.
The 1980 Gold rush was inflationary protection to preserve wealth, but more a political triggered event tied to the US hostages in IRAN. As soon as the traitor Ronald MacDonald got into office, and sold America out to the Iranian Terrorists with ransom money of $5-6 Billion, the 52 hostages were loaded onto an airplane, and it was said the higher the hostages climbed in the air, the price of Gold went down just as fast. So not sure what to make of that, as it was not as Pure sense of Gold valuations, but more of a political trade and yes a rush to PM’s for safety for inflation as well.
However compare today to the 1980 mini crisis, to all the BS going on in the world lately, currency collapses, including the threat of WW3, and Sure jump on GOLD and Silver since it seems to be both be attached at the waist and a place to park your wealth.
This guy in the video David Morgan describes to the word phraise my comment a few days ago. “Ebb and flow, up and down..” when describing the movement of PM’s. Maybe he is following my blog comments for direction. haha (Coincidence maybe) And listening to these guys, I could put out a silver letter, saying the same thing these guys do. They are just marketing their wares. He said silver was priced at $25 I said $26.50 target. Nothing keeps going strait up, and has corrections, as every correction just builds the base to reach higher prices. So opinions are like assholes, everybody has one. Bottom line though, got to be in PM’ at a lower price to preserve your wealth for the next few years and you will make profit on this investment. Physical over paper anyday. Keep stacking on the dips and sit tight, you will be rewarded.
I liked you comment. I have been wondering, for years, what the true value of gold is. The suit business never made real sense to me. I like the Bread-to-Gold ratio.
– The real value of gold is for after the new currency is released. You use to gold to buy new money. The value of gold just after a SHTF scenario is very low. You can not eat it.
– The value of gold never changes. It is the value of the currency you are buy/selling with that changes.
I’ll tell ya what buying gold or silver (just like chase bank is doing) you are only planning on after the collapse is completed and some normalcy has returned. It will allow you to transfer current wealth into what ever currency is developed. Or it allows you to take that currency to a place least affected…
I know I’ll be trading a couple of dozens of eggs per ounce 🙂
Those who are buying precious metals are assuming there will be a functioning economic system that will give value to metal over food!
Some of the “experts” say gold will reach $5000 or more per ounce in the near future. Two Hundred million or more people do not have any gold much less a hoard under their matress.How much will a loaf of bread cost? Beware.
I like panic sellers when it comes to Gold/Silver and someone just dumped $1.3bn of gold on to the markets not that i think it’s connected to physical gold.
Profit taking is over by the fixers, back to the downward trend for another year or so.
Paper gold. Not the real stuff.
I did not get too much from this article but a bunch of probabilities and we have plenty of them.
I say for most events that are suppose to happen,
Shit or get off the pot!
Stock Market going to crash? Then Crash.
Housing going to crash? Crash the SOB.
Banks going to go under. Bombs Away, MF!
Then if your going to riot? Bring It!
So sooner or later the bullshit stops and I hope we get an insight as to where the country is headed. Provided we don’t have a nuclear world war with shithead in the White House.
“Don’t go out tonight. It’s bound to take your life.
There’s a bad moon on the rise”.
agreed, agreed, and agreed.
I counted numerous hedges with this guy saying “could”. He doesn’t know. There are presently experts saying PM’s are getting ready to go way down.
could, could, could, geez, no willingness to put himself out there
This is a good 17 Min Video- The Government is a PARASITE on society (FULL)
This isn’t the first time this guy ‘cried wolf’…
Seems he’s hoping for a collapse, cuz he expects to make a killing.
OK, so lets say gold goes to $5k? $5k of WHAT??? $5K of NOTHING is still NOTHING.
STOP reading this shit. STOP reading the news. STOP reading the fear porn posted here. Your BP will be lower, I guarantee!
or you can look for opportunities in times of crisis.
gold & silver if China back their play on Sept 30th as they are welcome into the IMF life may become a little better.
Mac, lets band Dmonic.Your ass is banned, you are not a prepper, just saw on a previous article that your calling bullshit on Mac, that Mac is posting bullshit.. I got news for you agency ass clown trolls.. I knew eventually that it wouldn’t last too long, as you come on her acting like you one of us posting crap..You agency ass clowns would not be able to continue to fake it, hillary is in trouble now so your future is phucked..You attacked me on a post a few months ago, calling me a nut job, taking shit about meds and other crap..
Fuck off DIMONIC, your ass is banned.. you are a prepper and yes mosquitoes will breeding in stagnant water and rotting decaying stinking bodies of the dead, the abused and the massacred will be all over our cites and neighbour’s hoods all over the major cities of America. You think the military of all the countries of the world built all that shit to not use it, think again So since you don’t like the fear porn, then hit the streets..or go download gay porn..ass clown.
Oil is not coming back, I know because I am friends with a top recruiter in my city and he has left the business because it’s finished permanently. The top guys told him that there are preparing for war, natural environmental disaster an invasion from Russia and China, and that is coming from the oil company owners. So don’t come on her talking bullshit because you happen to be a retirement account MGR, and your customers are cashing out and going to into food, guns ammo, and metals.. YOUR BANNED FOR ACCUSING MAC OF POSTING FEAR PORN. From the moment you troll on me after this post, everyone will know what you are..
Agency ass clown super moderator.
Fire up the shredder we got us one to toss in hahaha stupid trolls
So… You’re a mod (snicker).. you banned DMONIC, yet somehow you expect him to “troll on you” after you “banned” him?
You’re either a really poor mod, or a rambling self important blowhard. I’ll leave that for anyone who can read your posts to decide.
2 in one day wow
Actually there is so much shit going on, our asses don’t know which way to turn. If you buy into all the crap it will drive you crazy.
In the bigger picture we all have a place here at SHTF. Playing within the EXPANDED rules so to speak.
Have to admit you find a nugget once in awhile in the wildest threads and by those who you would think couldn’t post a good comment.
Buy the way we all know Mac has to make some money or we are just as bad as the “FREE SHIT ARMY”.
Whatever, we have a short time to get the major stuff that might be completely banned in the future.
I’ll be selling myself on the street corner…
here’s a sample…
OFF TOPIC ALERT:
PUTIN AND ALL HIS KEY STAFF HAVE GONE TO THEIR UNDERGROUND BUNKERS!
Prep while you can, and don’t neglect your most important prep: to pray every day and get right with God every day.
Let’s ALL pray that peaceful minds prevail around the world and especially in our own government, most notably the CIA who instigate a lot of evil.
– the Lone Ranger
link? I’m finding lots of old references.
Old refs. only so far.
Current link or you stink.
Praying is an exercise for the dumb to think that it works. Kind of like voting, as if you have a choice. If praying actually worked, then none of this would be happening in the first place, right? As one religious guy said on here posted a few articles back, “God has the last word.” Well if he was so mighty powerful he would have the “first word” and none of this would be happening to begin with.
And just think how many people are praying that an certain event outcome does happen, So now you have competing prayers. Like the Dopes after the football game, that wins the game and they all huddle around together and thank God, as if God loves those dopes more than the losing team.
If you like to waste your time like most religious lazy people are, then go ahead and pray harder. If you want to take control of a situation, then get off your butt and make the necessary changes yourself. The best way to predict the future is to create it, not wishy hopey praying, and see if by happenstance it works out for you. Religion is one of the most ridiculous cults out there.
I believe most people get pissed off when you mention to buy gold or silver because you told them once before when it was $4.00 for silver and $254 for gold. Then put it to them when you say Silver was at a $1.00 and ounce and Gold $35.00 at one time. Also to start to collect silver coins.
You where a real NUT CASE then, huh?
anon, actually you could tell them that Gold and Silver values rarely ever change, its the dollar depreciation that makes the gold and silver to appear more in value than 50 years ago. I will guarantee you, 1 ounce of Gold a thousand years ago, is still 1 ounce today.
I think the first summer job I had when in high school, I was making a whopping $2.10 per hour. But that was when Gas was $.52 cents / gallon. And I drove a motorcycle with a 2.5 gallon tank. I could drive all week, for one hour of wages.
Is the gold buying for making a profit or for having currency when the dollar collapse happens. Making $ and getting through a economic collapse are very different agendas. everyone’s desire to be richer than the next guy will in the end leave them broke while the manipulators make off with the $. Just focus on what you and your family need. We all agree that metals are manipulated. If your afraid you won’t get what you need get it now. A box of ammo is a box of ammo it cannot be manipulated you either have it or not. Capital controls don’t affect your supply stash it only affects when or if you resupply. You prepare to be ahead so you don’t have to make hasty choices to meet your needs. It would be foolish to wind up dead trying to get food but have a huge stash of gold.
Oh man, so many trolls sh*tting on people for thinking ahead. When it comes down to it, sure, all of this is just speculation but, isn’t this what we all come here for? To take in & speculate using all of the info we have every day in an effort to prepare for the possibility of a societal collapse? I’ve been reading this blog for years now & it is amazing how many trolls attempt to derail the conversation. Hey, DMONIC – enjoy your one bedroom sh*thole apartment after the government checks stop rolling in for your “contributions” to sites like this and the shelves in the stores are empty – but thanks for your input anyway.
Saving up physical PMs is just a hedge against fiats going south – but anyone who has been coming here knows we are on the precipice of just that. My advice? you guys don’t need it, most of you are already doing the same thing I am – getting ready.
The writing is on the wall. I know it, and I’m pretty confident that most of you know it too. And what are we going to do? All we can do – just do our best to get ready, and maybe say a prayer or two. I have a feeling this one is going to be a bumpy ride. It makes sense to buckle up for it, does it not?
Wealth preservation should be considered as part of a well rounded prepping strategy.
WDC and the Kenyan need to witness their own hanging.
WTF IS GOIN’ ON IN IDAHO???
3 Muslim refugees rape and sodomize 5-year old American girl in Idaho. Naturally the vile and cucked beyond hope MSM ignores the case.
A RACE WAR IS COMING … PREPARE ACCORDINGLY.
Buy ammo lots of ammo
Yeah, that is my precious metal.
That was over a month ago. Look for the next case. People don’t give a shit here.
MG, or who ever your are.. that type of crap you just mentioned is what’s bothering my scientist friend.. those assholes are in the county doing crap like that and this is not even a collapse yet. So when collapse, invasion, and war breaks out as in civil and revolutionary war, then what kind of treatment do women and third children expect to get in that type of environment. Women extinction level is a fact of life once the war or what ever the hell happens.. the cabal is not giving up power and have no intention of quitting those sick habits.. every senario has and turn out, and ELE extinction level event..Women cannot defend themselves, children cannot defend themselves, against soldiers with body armor, and rifles in your city and neighbourhoods, men will shoot back for certain…if and event happens, every single woman single or with kids is in deep shit within the first 3,4 days, and are in severe deeper shit of a situation in 1,2 weeks.. The men will start on them right in the apartment complex that they live in..it’s just a statistical fact when you taking self defense.. This is what I am moving next month from my area, any from areas that have lost of apartment complexes, to a subdivision with more people like me and others, to be in a better position to protect my woman. When I ask her what she would do in and event on the above mentioned she can’t even give me a plan to save her own ass..So she is listens now.
The Loan Ranger, your correct. He is underground probably and the same is going on over here. I know a recruiter for and oil energy comp, that and oil comp owner, that he knows, took him and a buddy out in the middle of nowhere Texas, to show them what he build, with Aquaponics, gardens, and a sustainable food supply of animals and plants in balance with free energy tech self perpuating energy machines. Said owner of property told him that oil is done, that collapse is enevitable, THAT HE HAD THAT PLACE UNDER CONSTRUCTION OVER 6 YEARS AGO, and everyone is just acting like its normal to give them time to prepare to leave the city of Houston and all the major cities of Texas to the outskirts of bum phuck EAST TEXAS. And get this, the property is underground, and cannot be seen from the surface. The aquponics setup is 100% percent sustainable and he has a doctor and surgeon on it with him, with all the medical supplies to deal with every situation, including organ transplanting, and all the latest stuff, while we are on the surface, and stand no chance in hell of surviving.
HCKs- Glad you are moving. Thought that might be why you were MIA for awhile. Just a factoid about the energy business- my sister has a house in the Woodlands she can’t sell. Not enough oil and gas salaried folks to buy them out. Real estate here in E Texas is flying like hotcakes though. New neighbor got out of the Woodlands and into a house up here for 150K. We still have bank foreclosures coming up for active sale that have been vacant for years… nice homes that were custom in their day. People who can, are relocating. 45 is a natural bottleneck…. easily blocked. People who are counting on getting out of the metro that way will suffer on the roadways. Hardy Toll Road as well. and anything that feeds onto 45 N will be one big parking lot. Given certain circumstances, the people in the communities above Harris county will blockade that road. It will take the National Guard and heavy equipment to prevent that. I would not put it past the folks in Willis and Conroe to collapse the overpasses onto the road if a WROL situation breaks out.
Obama Admits 10,000 Syrian Refugees: This Is Where They Are Headed
“Yesterday, the White House announced that the US had met President Obama’s goal of admitting 10,000 Syrian refugees into the country; it did so ahead of schedule.
So where are they going: the top state destination for refugee influx are the states of Michigan and California.”
Rellik and Nailbanger.
I see you have a couple of storms headed your way.
I have one in the gulf that will ride over me later. Last time the weather did that we lost power for 5 days and that wasn’t a hurricane either.
Good luck, and this is where prepping pays off.
The Hurricane in the Gulf is taking a right hook and going to head back NE over central North Florida over my area. Right now winds are only 35 MPH, and we expect a good dumping of rain on Thursday. More of a tropical storm than hurricane. Hope it keeps sleeping and doesn’t wake up to create havoc.
~WWTI… Hunkering down here all day Thursday.
Try this lunch while you all are at it. Russian insider warns about September event? Oh I ofcourse I will probably get a troll or two who might be concerned that we Preppers store up on supplies. Dimonic might get upset, this little agency ass clown troll just got his ass handed to him. Phucking troll.
Increasing the fear porn 100%
Would an empty dumpster make a good water tank or flip upside down emergency shelter cus there will be alot around
In regard to the gold-to-bread ratio, what if the govt proactively asserts the role of market maker.
The Constitutional value of gold is an example of price fixing, although the govt need not follow the Constitution.
In Zimbabwe, it’s reportedly worth just pennies.
Grain hoards have been taken out from underneath houses, in eastern Europe and Africa, piled in the streets, burned, and the owner, shot in the open.
Communist govts considered it a form of “original accumulation” aka “primitive accumulation” (of wealth.) These were the names of formal charges.
There was no real famine in those starving countries; they killed productive farmers in the belief that rations could be used to co-opt the desperate, to create a secessionist state-within-a-state, a sort-of oligarchy of plantations and slaves.
If you are caught with the means of production, or the fruits of your own labor, you could be charged as a terrorist, under the Communist tradition.
Anyway, you should not typically be able to afford years’ worth of food, at any pricepoint, in a time of food insecurity, redoubt properties, in a time when your first house is no longer part of the social contract. I am probably writing this to ppp’s, Old Economy Steve, and Boomer Dad stereotypes. You were oblivious that people in your economic and age bracket are being portrayed in a purgey, Marie Antoinette sort-of way, not by goofy change agents, but by crass, social-utilitarians.
The marginal and retarded were just tools in their belt.