Posted on 04/12/2020 11:17:20 AM PDT by fightin kentuckian
I'm like most Freepers, I work, still have a job for now, and I save money to a 401k, IRA. My money is still right where it is when this current crash started, but a lot less of it.
The US debt is out of control and with these corona virus mega spending bills there is no way that the US will ever come out of debt. One day, the US economy will in fact crash from this mounting debt, it's inevitable given we are not deviating from our path. And when it all comes down it will make the virus crash look like a mild correction.
When that day comes the market will go to zero and banks will NOT give us our money. Everyone will default on their debts in order to hoard what little cash they have. Inflation will skyrocket, dogs and cats living together, Armageddon.
My question is what are you doing with your money to get ready for that day. What investments are you using? What do you recommend?
This is a serious thread so lets dispense with the lame jokes about me giving you my money. I'm asking on this forum specifically because a lot of Freepers are extremely smart, connected, and in the know about a variety of topics.
He is Risen! Happy Easter!
Is your house paid off? I would invest real estate.
“Buy a supply of Mickey D’s cheeseburgers. They last forever without rotting.”
I prefer the source. I have cattle.
My parents went through the Depression in the 1930’s.
Both knew of older people who ‘stopped believing’ in the reliability of banks, any bank. Some of these folks would hide huge amounts of currency around the house, around the property they owned.
Every so often, I hear of such stories now, where a Second Hand Store reports $85K in cold cash found inside the cushion linings of an ancient sofa.
I too would consider keeping my meager inheritance in my apartment, instead of spread out into three banks as it now is, but my apartment could always get robbed. Then what?
I will say this, don’t buy into the garbage “gold” advertisements that will be playing non stop. Those are designed to generate commissions and pump up the prices in the short term (while they are selling). In a real collapse, gold is useless.
We live in an era of extreme trust in financial and paper assets. As you say, this trend or cycle will turn at some point.
My great-uncle, who was born in 1880 in a country cabin and lived to be nearly a hundred (I was an adolescent when he passed) used to talk about his life, and even wrote his biography and the history of his town for the local historical society.
He trusted his own labor, and his family. He believe in productive farm land and his cows. He owned a saw mill. He collected silver. I am certain he used banks, but have no idea if he owned stocks or bonds.
Anyway, his was a different era, where mass financialization and massive printed-money debt didn’t even exist. So investments were in things he controlled and could (mostly) touch and feel. These tangible and solid assets of our age will be different, but many will be the same, and I think we will tend to go back to those general concepts.
Universally recognized as silver
Worth $1.11 at the moment. Still buy a cup at most places.
“What do you recommend?”
I recommend a solid assessment of your own risk tolerance and AA plan.
If yer freaking out, that wasnt in place so do a reveal
PS you wont get good financial advise here just OPIN
“We will go to a barter economy, gold and silver coins, etc., will be worth something, other things maybe not as much. Diamonds for instance will be a dime a dozen, everyone will try and use them but they are neither scarce or will be very valuable, except for antique and certain pieces of jewelry.”
All of that will be worth very little. In a barter economy wealth is:
Land, water, animals, guns, ammo.
Good for you go look at what major mortgage companies are planning on doing Post CV 19
exactly
It will be a severe debt deflation.
While cash is now king, it will be more so for the next couple of years.
Cash.
Booze.
Not if you’d be inclined to drink it yourself, though.
You are correct, i invest in firearms and ammo, long term food, and land.
“”A $30 Billion National Debt meets rising Interest Rates.””
Do you mean, Trillions?
The problem is that just about every other nation is in the same predicament; lot's of debt.
I've always been somewhat of the opinion that the level of debt doesn't really matter because the higher the debts amongst nation rises, the easier it will be to justify a "reset" and a roll-out of a new global currency. This in turn will further strengthen the NWO, as someone will need to manage that global currency.
Most of our nest age is in very safe CD’s, under the limits for federally insured.
Making almost 3%, no fees, so it’s been building nicely.
We’d have cash....but what would it be worth....that’d be the question.
Yep.
I wonder if any of FR’s monetary experts have looked at interest rates lately, or economic history.
“I cashed out of 401k and IRA after 2008 crash. never again.”
OK, so...… What did you do with the money? Did you lose any in this last crash?
Nope. Not Gold or Silver, or Platinum or Titanium.
I put my cash reserves - all $200k of it, into hard liquor.
That'll be more valuable than damn' near anything else other than high velocity lead projectiles, which I also have a metric sh*t ton of also.
See you in the afterlife.
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