Posted on 01/15/2021 10:20:17 AM PST by SeekAndFind
Once I crack open this alchemist stone and start turning lead into gold, the gold price will collapse! But first I'll sell gold short so I make even more money.
More seriously, stock up on food, water, toilet paper and other essentials. Don't be in a situation where you will die if the grocery store closed today for a month. In the worst case you'll have to rotate stock when you buy more and eat the older cans of food.
What does "drop their holdings" actually mean?
It means: Selling their holdings (i.e., DEBT) to someone else. That counter-party must be willing to buy that debt.
Money is not destroyed in that way - it simply changes hands.
Regards,
Well said. Time is short.
This makes absolutely NO sense.
If a currency is destined to "crash," the most-stupid move one could make would be to first shed all of one's debt.
If I owe, say, $100,000 (in the form of, e.g., a fixed-rate mortgage) on Jan. 1, and then the dollar crashes, so that a loaf of bread now costs $10,000, why wouldn't I eagerly look forward to selling ten loaves of bread that I have baked in order to pay off my mortgage?
The truth is, of course, actually more complicated - but that is the gist of my argument.
Regards,
If you believe systemic collapse is coming, the most logical thing might be - Get in to debt now! Especially if it is for productive assets.
systemic collapse means your creditor might disappear. Or It may mean debt jubilees, Or If government’s response is money printing and hyperinflation (remember, government is the biggest debtor of all) then you can pay back your debts in a worthless currency.
In Weimar Germany’s hyperinflation, farmers and land-owners did just fine, and smart businessmen and political cronies who knew what was happening built massive empires buying cheap assets. Look up Hugo Stinnes
"...close your bank account and bury your money..."
I am surprised by the lack of knowledge. ALL countries are studying and pushing a cashless digital currency. China has a working model currently being tested. The US senate bill calls for cashless by the end of 2021. There has been many Treasury and Fed meetings on how to instate it. The Senate bill has already been fast tracked into committee. Fedcoin gives government’s TOTAL control.....and guess what China’s digital cash dictates- you can not buy gold with it.....and all purchase are continuously monitored.
Prep is never a bad idea.
If a monetary/social collapse happens, all the prep in the world will buy you a few weeks at best unless you live in a secluded rural area, where you could last for quite some time. The first order of business for real prep is a self-sufficient bugout spot that is way out in the sticks.
If you are in a populated area, you and your gang will be under siege by other larger roving gangs who will wipe you out pretty quickly. Fixed and easily reachable positions won’t survive long under assault.
The good news is, such a collapse is not likely, imho.
Yes I have stocked up on food in POP-TOP cans in case my electric can opener is in-operative. Actually I worry more about electricity staying off for several days due to a nasty hurricane visiting my town in Florida.
A few years back while living in Marysville, WA we had a snow storm and knocked out electric power for 36 hours. With an all electric condo, and freezing cold outside, it was brutally cold inside. Luckily we had a propane grill on patio to make some warm tea and food.
Over long periods of time, land is one of the ultimate commodities. The problem is that during anarchy, you will probably need more than a deed to keep it.
Amm0 is like currency during anarchy, but during such times, it’s practically a perishable commodity because you may have to consume it before you can sell it. heh
When it all goes in the air, food is very precious, or the means to produce it. In some ways, this goes partially back to the land commodity, but it gets more complex. Not only do you have to have the means to produce, but again, to protect.
But when all you are really talking about is hyper-inflation of currency, the other aspects of anarchy are assumed and hard to predict, so you you may not need to declare ‘protection’ as a conceptual yet tangible commodity, I would suggest usable land is more definitive in this case.
I was pulling for your winning that lottery. And, I wish to thank you for having planned to be so generous with me. I know you would have helped a brother out if you had just won.
You'll get 'em next time.
“Buy gold! It has never collapsed.”
Gold will be worthless in a true economic collapse.
Only barterable goods will have any value. ammo, food, medical supplies, gas, kerosine and diesel fuel.
My prognosticators are in agreement, yes it will happen, and begins the March to April window.
Since the U.S. government's debt is denominated in U.S. dollars ("Our currency - your problem" is the famous dictum), the govt. would have to put the printing presses into overdrive in order to service that debt.
That would, of course, have a long-term impact on our currency (foreign investors would probably greatly reduce their FUTURE purchasing of U.S. debt, and IMPORTS would become more expensive), but the short-term benefits for private individuals with big mortgages or other debt of any kind would be tremendous.
And U.S. citizens wanting to invest in govt. certificates would suddenly find that they could get a return of 10% or more, instead of actually paying negative interest rates.
A win-win for the "little guy" (at least during the transitional period).
In the long term, of course, confidence in the U.S. $ would erode, and efforts to introduce a new global Leitwährung would gain steam.
Regards,
Consider platinum and buy any amount, grams, small bullion coins or ounces if you can. It is behind gold silver and palladium. I believe it’s going to skyrocket like palladium did the last couple years. Silver American eagles or Canadian maple leaves will be a good barter currency. More easily traded and less dangerous to walk around with than gold in a societal melt down.
If the economy collapses I can’t see some banker and a sheriff coming to repossess my house in the near future, both of those people will have much larger fish to fry than kicking me to the curb.
Silver, Gold or any valuable things will not save you, btw.
They will help only in a partial collapse where a semblance of order can be maintained by the government. In a total collapse life will be brutish and short. 95% of people will be out of food and desperate in a week.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.