Posted on 10/03/2013 3:17:32 AM PDT by Mozilla
I love the situation with the bonds.
The Bonds are printed on the same press as the money and neither is worth the paper they are printed on.
They are buying useless Bonds with useless money.
I don’t know the name of that scam, but that is what it is a scam. The story is correct. The Government is printing money and when it stops we will have that hyper-inflation.
Every dime they print makes every dime you have in the bank worth that much less.
Don’t worry. I saw nothing about the virtual currency we have been using. You know, currency on a computer screen?
No one talks about all of the transactions done by computers in a millisecond. This is the world we live in now. No one uses cash anymore. Everything will be “credits” at some point. Not gonna happen. Example: Bitcoin
But that makes the pre-1964 silver dimes in your hand all the more precious
bump
I have some quarters too.
To try to counter the effects of the recession interest on savings was lowered for one reason so people wouldn't sell off their stocks quickly without enough buyers. Saved the stock market, screwed savers who want to prepare for the future.
Is buying gold or something “real” the only way to protect oneself?
I am not sure what the answer is to preparing oneself to surviving once this hits, but I have been trying to prepare for this.
Have converted my cash into hard assets such as silver, gold, ammo, firearms, canning equipment and food stores. Also equipment for planting and managing my acreage. Also long term storage of diesel fuel. Do have “some” cash on hand.
Have scaled back my beef herd on a scale that my wife and I can manage. Getting to slow to outrun the wilder ones......
Will be adding 30’x 40’ green house with aquaponics included as part of the system. Been growing my own tobacco for the last couple of years and this will be included in the greenhouse.
We have just completed a new 24’ x 16’ hen house with 7 different rooms and have started raising hens and selling meat, pullets and eggs. Raised chickens in the past so not a big thing to get back into it.
Have closed all checking and savings accounts. Will be closing out one 401K/IRA this month and closing the remaining one out next year. Will be completely out of the banking 1s and 0s.
As far as I am concerned, the FERAL Government can kiss my White butt. This country boy will survive one way or another.
“No one talks about all of the transactions done by computers in a millisecond. This is the world we live in now. No one uses cash anymore.”
Here in NJ we’re reverting to a Third-World economy where people work for cash, which they use to pay for the rent on their illegal apartment, groceries in dollar stores/flea markets, and gas for their unregistered, unlicensed cars. The flood of foreigners are showing the remaining American-Americans how to do it...
Faith in God, guns and ammo, tools that work even when the power is out, good land, fresh water source on it, stock - the real kind that you can eat or work - a good wife, children, and a community of like minded folks.
In a hyper inflationary scenario, the price of stocks goes up just as dramatically as everything else. You’ll be seeing the Dow at 100,000 and it won’t mean a damned thing when rent for a 2 bedroom flat in an average part of town costs $6,000 a month, and bread costs $7 a loaf - on the way to $60,000 a month rent at $70 loaves of bread.
The numbers wouldn’t look so good for the administration if they included food and energy costs in the calculation for inflation.
In the local grocery store I just saw a 12 ounce package of brand name bacon for more than $12 !!!
Rather than a period of hyperinflation, the actual default will be covered by re-issuance of a new currency. That currency will be an America’s Dollar which will be used by Canada and Mexico, thus ushering in NAFTA. By re-issuing a common currency, the USA like the big powers in Europe, the problem of a devalued currency can be avoided on the surface. The only problem American’s will see is 5-6% inflation, not hyperinflation.
Your scenerio is what happens if everyone buys stocks. In order to prepare for that possibility about the only thing to do is have all major purchases done and for the lucky few have the means to be self sufficient.
Hyperinflation Ping.
fyi, cash is basically a zero coupon, infinite maturity bond.
Think about it.
The volume does not have to be heavy al all to see the price of stocks go up as I describe, because it is not so much that stocks are worth more, but that the dollar is worth less. Or, perhaps, worthless. Just like bread. is a $60 loaf of bread any more nourishing or tastier than a $2 loaf of bread? No. Nor does there have to be a huge increase in bread buying. It’s just that more dollars are chasing goods, and sells won’t let them go for less than it will cost them to replace the flour, yeast etc, and pay their bakers. As the carousel spins out of control.
In 2010, I bought 50lbs of frozen bacon for $1.49/lb; now it’s over $8.79/lb.
I just bought 1.7 lbs of Perdue chicken breast for $10.18, and they were asking $2.19 for a 6 ounce can of solid white tuna.
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