Posted on 01/08/2021 4:32:23 PM PST by OneVike
I think cash is still king. Seems to me the markets have to crash soon. If you’re long term you should be okay with stocks, but short term is bad news. JMHO
“If you can, buy GOLD!”
I think silver is a better deal. Gold is like having $100 or $1000 dollar bills. Hard to get change and the premium on fractional gold is pretty high. Junk silver and some eagles.
With the morons taking over we will have deflation (economy is going into. New Great Depression as President Trump warned) but ultimately hyper inflation as the money printers go into ludicrous speed.
Later
Later
How do you prevent yourself from being executed? Money matters mean nothing, after you are executed for not toeing the line created by Far Leftists.
Death doesn’t scare me. My world is not of the one I live in. This is just a place I’m traveling through to make it to my Ultimate destination.
While here I will live, fight, make money, love, and do as God instructs me to do by sharing the Gospel and the Wisdom He imparted upon me.
“Had you used your credit card and paid it off next year, you will have payed it off with money that is worth 3% less. Thus a total savings of $6, and a difference of $12 from what your loss would have been. “
Except you would have had to pay something like 18-25% on that credit card.
I had a buddy who had bags of old mercury dimes. His position was that if the SHTF then silver would be the currency of choice, as it was in the old days. Gold is just too valuable to be practical except for very large purchases. I think that's true. So if you are investing in gold for the purpose of having a physical commodity to use if the world ends then go silver instead. But most people aren't thinking of actually using it as currency.
The Democrats are pushing for another Great Depression, but at several times as big, across many fronts.
The green new deal, so fuel and electrical shortages and sky high prices.
Wealth tax, likely applied to “virtual money” in banks and investments. Anything they can electronically grab.
Massive Income Tax hike.
Gold confiscation like what FDR did.
Gun confiscation and prohibition.
Conscription for “government service”.
Hyperinflation at the same time as deflation.
Too expensive to move food to market.
Foreign treaties surrendering sovereignty.
Foreign soldiers and police in the US.
Calls for resistance and disagreements will be censored.
It won’t all be at once, but Nazi Germany wasn’t built in a day. It will be boiling a frog to death.
Oddly enough, the saving grace might be when violent extreme leftists start to assassinate Democrats for not being radical enough.
Wowser, I would hate to be you. I do not pay rates like that. Fact is, we pay 3% to transfer our debt to new cards that we keep getting offers for that have 0% finance charge for 15 Months or more. When they get close to the date, I transfer the debt at 3% to another card who’s offer is similar with 12 to 20 Months no interest. My credit rating is like 750 right now. and it has been there for years
I’ve posted about how my mother and MIL taught us re buying house hold commodities.
If it is something you use with and long term or indefinite shelf life and it is on sale. Buy it and store it.
We also, use our Amazon credit card with a 5% cash reward.
Anything that is a by product of petroleum will soar in price before the year is over. On Amazon I can pre order auto shipments of these items and have them shipped free to me every 2 or 3 months and lock in a great price and still get my 5% cash back bonus $’s.
The best money when SHTF(deflation) are Federal Reserve Notes and specie.(coin money)
Those two forms of money, can be spent anytime and anywhere in the United States.
Remember every deflationary crisis in American history has had massive bank failures.
My great grandfather(1882-1966) only got back 8 cents on the dollar, when his bank crashed during the 1929-1933 deflation.
Inflation is not solely caused by government “printing” or digital debt creation.
It is also affected by the velocity of money.
If most of the money goes to billionaires they are not likely to spend it in the broader economy, so there is no velocity.
The checks that go to “everyone” can cause inflation because that money will circulate quickly.
However, the current credit card interest rates are very high, and this has a _deflationary_ effect, motivating consumers to use any “helicopter money” to pay down credit card debt _first_, which means the money ends up back in the pockets of the billionaires that own the big banks.
Bottom line—I think policymakers have painted themselves into a corner where the deflationary pressures (slow velocity of money) are offsetting potential inflationary effects.
I do not see how they reverse that trend in the foreseeable future. It will be difficult to ignite true inflationary effects across the board as long as average folks have substantial remaining credit card debt.
Cool, whatever you can do to reduce your costs is the wisest thing to do. We must always remember that we must think outside the box and realize our fate is only determined by others when we do pray for the best and be prepared for the worse.
My total debt right now is like $2000. My home is paid for, my 30 years old vehicles run great and I have no needs I cannot take care of.
If I need I have great credit, and always always take advantage of the credit cards that offer free interest on debt for a period of time and transfer my debt over so I have not paid any interest on any card, other than a 3% transfer fee, in 25 years.
Right. Whatever you do you want to be as debt-free as possible. Spend less and save more.
Very topical. Was just discussing this with a coworker today. Precedent: Zimbabwe.
I’ve put most of my savings into my market accounts and into stock Index funds. As the dollar goes down the valuation of stocks goes up. With investment and bank accounts linked money can be sent to a checking account when needed for spending. The interest rate on a savings account is worthless vs the 14% inflation. The market compensates for the dollar’s decline.
“Except you would have had to pay something like 18-25% on that credit card.”
I have had a credit card card for many,many years——never paid one cent of interest.
.
I use my IRA stock account with e-trade for my bank account on expenditures other than household goods. No interest for my money and because I am 64, there is no capital gains tax. I just pay tax if my withdrawals goes over the amount required for income tax at the tax time.
I can invest and trade, and if my trades are enough and my balance is high enough I have a low to zero fee per Month. My only fee is the minimum I pay for trades
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.