Posted on 09/05/2009 9:58:26 AM PDT by John123
Buy bullets, cigarettes, TP and gold bullion coins that can be melted down... this is what I got from the survivors of the Argentina currency crisis back in the early 2000... all those items can be used as an exchange of goods in the real case of a complete society breakdown...
I think it is already happening... I remember reading a thread on FR yesterday about United States banning charter flights from Canadian NHL teams because the unions are feeling left out...
I wouldn’t put it past the US government that the way it is now constituted, with commies at the helm, and Bernake et al running things, that the Federal Reserve with its gold and silver hoards is somehow behind this crisis.
You are giving them too much credit... the Fed Reserve is literally overwhelmed just dealing with the banks right now...
You need way more than 10 times the space friend. Try 60 times more space because 1 oz og gold is about 60 ounces of silver.
If silver skyrockets vis a vis gold I’ll happily endure the extra storage problems.
http://goldismoney.info/forums/
I stand corrected... I'm getting so many responses from this thread that I wasn't paying attention...
Silver has some things going for and against it from my understanding... first is that China might ban the export of rare metals which it has 98% (?) of the world's supply... and silver is known as an industrial metal (and a sort of substitute for rare metals too)... so if the economy is picking up... it is going to do better than gold.
However, if the economy is doing lousy... I would think silver would drag behind gold... but hey! It's your decision... :)
Buy neodymium.
If China reneges on its financial obligations, why couldn’t the US renege on its obligations? This wouldn’t only lead to a trade war, but a break down in trade all around the world. So much for the “just in time inventory” if that happens.
Thanks. I already have all that plus a hoard of nickels too.
The Nickel Is Worth 5 Cents Again
[snip]
"...around this time last year, a nickel was worth almost a dime! I'm talking about the melt value of the U.S. nickel coin, which is actually made out of 75% copper (and 25% nickel.)"
[snip]
Good point. I hadn’t considered the effect of inflation on the bonds that foreign governments (especially China) have purchased.
Perhaps it’s time to get the kids’ savings bonds and cash them in to get precious metals, huh?
Anyone who thinks that Obama would not restrict precious metal ownership in some way if the runaway prices became an embarrassment just has not been watching what these people have been up to.
They can make it illegal to transport it out of the country without a license.
They can enact large taxes when metals are bought/sold.
Outright confiscation is unlikely but they don't have to confiscate it to own it, they can just tax and legislate it to death.
Thanks for posting. Would you define "prepared" please? Prepared can mean any of several different things and I'm doing my best to cover as many bases as possible.
I've seen all the "horror stories" published online about the hardships and dangers during the Argentine crisis of 2000. The problem is that they are mostly exaggerations.
Being an enterprising capitalist I saw opportunity in Argentina at that time and started doing business there. I've shown these stories to some of my contacts in Argentina and they just laugh. They tell me that certainly things were tough during their crises, but nothing like the stores you read online.
In fact, they have serious problems there today - for example bands of robbers that hide along the side of their freeways stopping and robbing cars (their favorite trick for stopping cars is to suspend a small battery under a bridge from a fishing line - when it shatters your windshield it's only natural to stop the vehicle). However, I think these were problems they had before the 2000 crisis.
BTW, that problem with robbers stopping cars along the freeway - *that* is where the US is headed under socialism.
If so... I find it hard to believe that the sociopaths didn't run wild...
You are correct. It is different now than from back in 1934... confiscation of gold probably won't work as well this time around... back then... people were more willing to believe that the government knew best... and allowed FDR to confiscate their gold... and when FDR inflated the dollar... it was at that time the biggest theft of wealth in history...
I don’t doubt that is probably true.
But that would cause a black market.
I have wondered where the idea of the ‘Mark of the Beast’ would become an acceptable risk for governments to engage in.
A rising and uncontainable black market world wide just might be it.
Interesting times indeed.
Maranatha!!
Good question... I'm not sure what will happen if China walks away... it probably will cause a financial crisis of some sort... the current market rally is being built on hopes and dreams and was created out of thin air...
On the other hand... what USA is going to do with their debt is inflate it away... because believe it or not... anyone who buys government bonds knows that in order for the government to pay them back... they have to seize the money of its citizens...
Here's the real truth about US bonds... it will never, EVER be paid off... eventually, we are going to have to default on it.
I think we should do it now and fix our economy... sure nobody will ever buy our bonds again... this fact alone will keep our government honest...
If so... I find it hard to believe that the sociopaths didn't run wild...
Well, that's my point that those services didn't break down. There, were, however, cases in which employees forcefully occupied the facilities of their defunct former employers.
My contacts were spread across Buenos Aires, however I'm sure the rural areas scarcely noticed any problems.
There is and was grinding poverty in Argentina, but there was never "panic in the streets".
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