Inflation generally helps those who owe money... it's hurts savers.
This is one reason I got out. And though I think the Trump election is a pause before the inevitable, I believe our situation is beyond any human solution. This is why I got out several years ago.
For me, EVERYTHING is in hard assets and the real-estate I live on - a home and 32 acres that can completely sustain my family.
Cash
PMs
Cryptocurrencies
Firearms
Tools
Equipment
Real property
Food Storage
Reputation
...
I read it as which of you asshats and wondered how you knew.
Any real reset on the scale that ZH is talking about will destroy or bankrupt 95 out of 100 people in America.
The game has been rigged for far too long.
This is a silly article. Let’s just say, Washington elites “expropriate” all funds in centrally managed institutions. And the article thinks after doing that, it is hard to then steal property? Nonsense.
And after stealing that much net worth from so many people, exactly what do you think the life expectancy of these these thieves to be?
There have been bubbles, depressions, etc. The only way I’ve seen in history to wipe everyone out is a revolution - like Russia 1917 and the like. If that happens, private property and other tangible assets are absolutely not safe. The you choice is to leave the country to a safe haven with whatever you can carry, or fight back with armed resistance to the death.
This article is silly.
Ammo.
Cats. Invest in cats.
Whenever I see a scare piece like this I examine the basic tenets and see if they are sound. Right off the bat, this one hit me:
” this means labor is receiving a diminishing share of economic growth. Since costs and debt continue rising while incomes are declining or stagnating, this asymmetry eventually leads to insolvency.”
First, the chart is interesting showing labor receiving a declining share of GDP. However, note that it is not a zero-based chart. Thus, it shows a trend, but not an inevitable “result” or crash, which is implied.
Second, the chart “assumes” GDP is static. This is a typical liberal mistake. It is the same one as assuming that if some people are getting rich, then others must be becoming commensurately poor. If the GDP is rising during this same period, then labor is not suffering and may be thriving!
Thus, “leading to insolvency” is NOT an appropriate conclusion based on the chart, alone. It may be an appropriate conclusion, but it hasn’t been even remotely demonstrated.
He’s got a couple of things wrong:
>>>>>”Land and homes are difficult to expropriate for two reasons”
While Detroit is only the most obvious example (want a 3 bedroom house for $50 bucks?) it’s fairly easy to use marauding hordes to strip value from residential real estate.
In Atlanta in the 1960s they used blockbusting.
Real estate values can evaporate when it is in the interest of the powerful for them to do so. And you have to hold possession - if you consider the fenced off vacant commercial property something you want to pay taxes on until the elites decide to ‘gentrify’ the area in a few decades.
>>>>>”the debate over cryptocurrencies: will states be able to confiscate all cryptocurrencie at will”
He misses the point completely there. It isn’t the state that has been making wealth held in cryptocurrencies disappear. The trusted holder claims that they’ve been hacked, shut down their business, and your incorporeal asset has disappeared without even a simple ‘poof’.
It’s like they used to say about gold. ‘If you can’t touch it, you don’t own it, you own a piece of paper’ or in the case of crytocurrencies, you own a thumb drive or some other electronic ‘storage’ bits and bytes.
This will come as news to Bill Gates, Larry Ellison, Warren Buffett, Mark Zuckerberg, etc., etc., etc. Real private property is NOT the dominant form of wealth in the U.S. today. Nor is it immune to confiscation through expropriate taxation or regulation.
I don’t have much money to invest in “things”, so I focus on skills. And the physical things I do invest in tend to be the kind that grow.
Literally. My seed inventory took 8 pages this year.
I have 5 acres, but no house yet. Still working on that part. I’m developing a reputation as a plant breeder and herbal expert. I’m not sure yet how much of that is justified, but herbal medicine was an obsession of mine when I was a teen, and I’ve been getting back into it the last couple years. And the plant breeding is just plain fun :) I even have 2 seed companies interested in the bean I’m developing.
I’m of the opinion that you can never have too many skills.
I smile at this. The basics for living still falls under Abraham Maslow’s needs.
The basics of his needs for existence are called deficiency needs because a person does not feel anything if they are met, but becomes anxious if they are not. Thus, physiological needs such as eating, drinking, and sleeping are deficiency needs, as are safety needs like shelter and security. And the magical problem with any of these is they are controlled by the government through taxation supply and demand. And these are just the basics.
The same thing happened during Y2K. Everything was going to fall apart. And the only people with enough of anything to possibly survive was the rich or the government. Or so they think.
Additionally, what is everyone going to do when other countries come looking for food because we support most of the world with that now and we won’t be able to do so?
No place to run and hide as they will be effected more than us. This is what happens when you try to borrow from Peter to pay Paul and then borrow from Shirley and not find enough to pay either back. And when it happens, you won’t have a chance because you will be vastly outnumbered. The same as the rich and the government.
red
Gold and silver. If you don’t have it get you some.
Here is a thought I’m thinking regarding a System Reset. Lots of people lose financial assets, then jobs, and the ability to sustain themselves. Individuals or gangs begin stealing by force. Police and the government become overwhelmed, and lots of theft and assaults go unanswered.
Would the local governments still enforce regulations on property? In other words, if a property owner beefs up their security on the perimeter of their home, would local government let it go? For instance, in my area one can have a solid six-foot fence, total of eight-feet height if the upper two-feet are see-thru. In front, only a few feet height. What if I quickly installed a solid 8-foot wall all around, which is against the rules? Because that is what I would do to keep marauding gangs out. (Besides using my stockpile of ammo.) One thing in my favor, is that my neighbors on my block will band together to defend the block, and we have no gangs near the neighborhood. I can see the rule of law breaking down as people do whatever they want in order to protect their assets.
An Economic bubble about to burst ? Which of your assets are likely to resist an economic decline ?
Please read the comments for critical thinking and assessment.
Any idea as to how safe a gold IRA is? It’s physical gold, but stored at the Delaware Depository? I’d rather have it at home, but since it’s an IRA, evidently I have to store it out of reach.
All I know is that the day after I write the last check for my seventh college graduate, all student loans will be forgiven.
You don't. You hand the confiscated property to others (the previously "disenfranchized," "underprivileged," "wretched," or however they are called.) They are allowed to "farm" or otherwise "manage" the stolen properties, but - like sharecroppers - must give the lion's share to the State.
Of course, the new "owners" aren't highly motivated, and will probably eventually run the property into the ground - but nobody's perfect.
Regards,
The price of ammo and firearms will skyrocket.
So will the prices of H2O2, acetone, and moth balls.
Have you ever smelled moth balls?
Did you have to lift up its little legs?
5.56mm