At this point, it’s almost as if currency will matter less than some kind of material commodity, if severe inflation and devaluation of currency actually does happen.
Buy silver and gold while its still relatively cheap.
Keep your reserved cash in Canada.
I’m in most everything. Diversified they call it.
Some things directly, some by way of stocks, ETFs, preferred stocks, bonds and mineral rights.
Debt itself won’t cause a crash.
The 80%+ unconstitutional portion of the $4 trillion government interfering in every aspect of our lives with it’s commensurate high taxes is the real economy killer.
Just give me your money.
The money will be converted to historical US Notes issued by the US Treasury and indexed to physical gold.
We will be fine.
The Fed and its member monsters will be in agony.
I cashed out of 401k and IRA after 2008 crash. never again.
I would stay in the 401(k’ plan. It will come back up quickly.
We are still living in the wealthiest society in human history and it will only improve.
> a lot of Freepers are extremely smart, connected, and in the know about a variety of topics <
I am none of the above. But I can’t see the Federal government defaulting on its debts. So the only other alternative is to print their way out. You want to cash in your Savings Bonds? No problem. Just give them a second to print you a stack of twenty dollar bills.
So the question becomes which assets would do well in inflationary times. Gold? Real estate? Blue-chip companies?
Regardless, this inflation might not happen for 10 or 20 more years. The politicians are really good at kicking the can down the road.
I’m working on getting mine out of the 401K and into real estate.
Any economic “crash” would be due to deflation, just as happened after the 1929 crash, and unlike what SHOULD have been done in 1929, the solution today is to prime the economy with large amounts of cash, much like priming the carburetor of a cold engine with excess gasoline and then leaning out the mixture after the engine warms up ...
2/3rds of our Investments are in Cash. Waiting for the right moment to move money into the Market.
I’ll be dead by the time the reckoning occurs. A $30 Billion National Debt meets rising Interest Rates. Half the Federal Budget just paying Interest on the Debt.
Should be interesting.
now would be a good time to invest in mental health businesses (Are there any on the stock exchange?)- they are likely seeing a steep increase in patients
Just a thought
I’ve heard this fearmongering for DECADES!
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.
Is your house paid off? I would invest real estate.
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.