Sunday, August 11, 2019

Ballistic wampum: buy now

Money has historically been a medium of exchange and store of value. Hard currencies, such as gold and silver have been used for centuries as money. Paper money has been substituted for gold and silver in times past. Paper can be more convenient and is easily transportable. Paper Silver Certificates, for example were issued until 1963, when they were replaced with Federal Reserve Notes, which have no backing except for the “full faith and credit” of the issuing (US) government.

Wampum was a currency used by North American Indians made of beads of polished shells.
The late Jeff Cooper in his book Fireworks (limited supply), discusses the abstract concept of money, and the good faith necessary for a currency to have value. In Chapter 20, Ballistic Wampum, he states,  
"A trustworthy entity (king, nation, company, bank) which promises to redeem its paper in gold, on demand, can issue pretty good money. Obviously when an untrustworthy entity does not so promise, what it issues as "money" has no value at all apart from a sort of social momentum."
These words, published in 1980, are as true today as then. Cooper, at that time noted a commodity conspicuously lacking from lists of things to stock in case of a disaster. He, of course, was speaking of ammunition. As he states, it is more valuable than paper, and even more valuable than minted coins in the event of a monetary collapse. Cooper says ammunition can be used to shoot to “stock your larder,” and in his unique prose, “keep the ill-disposed off your back.”
But also, ammunition can be used as a medium of exchange and store of value, money. When he wrote this book, a round of 22 long rifle was worth about 3 ½ cents. Today (August 2019), accounting for inflation, it is much less expensive, available for less than 3 cents per round (and free or low cost shipping with some suppliers). “Clearly the 22 long rifle is the big item,” said Cooper, since everybody has a 22. He also advised that you buy some of other calibers.

It may be that supplies of ammo and guns become severely limited as politicians are heating up their rhetoric against guns. Now may be a good time to hedge your bets.
So go buy some ammo, and when you do, buy an extra box or two. Don't buy out the store, though, leave some for your neighbor. Date the ammo, and after you have accumulated enough, rotate you old stock out (shoot it), and replace it with new.
For more info: Jeff Cooper

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