Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Evil Slayer
I’m not really worried about someone finding this safe or having to surrender the contents of it by force. I have certain security devices in place outside as well as inside the safe that will render the intruder helpless if they tried to take it by force or otherwise. But AmericanIn Tokyo has a point about the currency. I am well aware of what happened to the Confederate currency after the Civil War. I guess you can’t win them all if it gets bad enough. Hopefully, Gold will be enough to keep me afloat. That and my faith that, no matter what, God will win in the end. There is NOTHING that will defeat that kind of security.

Hyper inflation will wipe out your cash at hand plus people rightfully panic into gold and silver during a hyper inflation. But thankfully hyper inflations are very rare in history. One of Glenn Beck's guests made that point

Believe it or not the US Treasury has always delivered on T Bills...even during the Civil War. If for no other reason that screwing T Bill holders makes it more difficult to borrow in the future

Your green cash Federal Reserve Notes (FRNs) are also jealousy guarded as far as their integrity. They are legal tender "to settle all debts both public and private" and the USG will make sure it stays this way

We have deflation now same as in the 1930's and green cash under your mattress did great back then compared to being victimized by a bank failure, bank runs etc. Any inflation we get a few years from now will be tolerable--less that 10% and you can deal with your green cash then because it will indeed be losing value

But right now any green cash FRNs you have are gaining in value day by day due to the unusual deflation we have right now so no sweat. The biggest threat to FRNs is a new currency. There might be limits on how much old money you can exchange for new money. But the USA is so anarchic these days I don't think the USG can make such limits stick. A black market will arise among immigrants and others

Gold can be very hard to sell during "the chaos". Home invasion men will be scoping out gold exchanges and looking for you and me. Silver is better and gold wedding rings too. You don't look like a big shot with these items

Gold is what you want to preserve until after "the chaos" and the rebuilding phase starts with more law and order in place

50 posted on 03/05/2009 6:58:20 AM PST by dennisw (Archimedes--- Give me a lever long enough and a fulcrum to place it, and I shall move the Earth)
[ Post Reply | Private Reply | To 45 | View Replies ]


To: dennisw

Excellent advice. Thanks.


59 posted on 03/05/2009 8:01:05 AM PST by OB1kNOb (Economists predicting a quick recovery are like the band that continued playing on the Titanic.)
[ Post Reply | Private Reply | To 50 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson