Posted on 10/16/2009 2:55:32 PM PDT by Kartographer
Trade wars could break out. Overexposed banks might collapse. And that's just for starters
(Excerpt) Read more at businessweek.com ...
Well, Corsi is wrong on this one.
It must be nice to live in a country where you can believe that those in charge will govern in a way that protect's one's interests.
I can almost remember what that feels like.
ML/NJ
I do have at least a dozen silver dollars—late ‘50’s - early ‘60’s.
Curious as to what you have? They stopped making Peace dollars in 1935 and the EISENHOWER DOLLAR didn’t issue until 1971 and then only a few of them were worth more than face(40% clad). Silver Eagle(legal tender 1$) issued in 1986.
Where did you come up with silver dollars in the 50’s???
lead will be worth more than gold...
Buy Gold! ;-)
You’re right. The thing is, there are always intelligent things to do in the market no matter what happens. In the event of a catastrophic drop in the value of the dollar, companies such as Coca-Cola, General Electric, Johnson & Johnson, McDonald’s, Procter & Gamble, etc., would make a killing in a nominal sense because they could take their foreign earnings, convert them into dollars, and pay off all of the dollar-denominated debt. In essence, they would be able to become debt-free through a transfer of wealth mechanism that most people don’t understand. Shareholders in these multi-nationals would make bank in a big and real way.
Currency plays can be done intelligently, no matter what happens. The most brilliant example I ever saw of this was Tiffany & Company about 7-8 years ago. Buried in the 10k report to SEC was a note about the Bush signed repatriation of earnings whereby a company could ship profits back to the US from foreign countries to get a huge tax break. Tiffany’s management borrowed hundreds of millions of Japanese yen, secured by the stores in that country, at somewhere around 1%. They then converted those yen to dollars, shipped them back to headquarters in New York, and got the tax break. They borrowed money for nothing, got a massive tax benefit, and reinvested in the United States.
That is why I believe in Capitalism with a capital “C”. It is what makes this nation great. If the dollar does collapse, people in debt (provided it is fixed debt) win. There’s a good point to be made that the falling dollar makes tangible property much more attractive so foreigners rush in to buy up all of America, Inc. This drives the dollar back up as the trade deficit reverses. If your affairs are structured right, it really doesn’t matter. If you have a single paycheck, money in the bank, and no other assets, then, yes, you could have trouble.
On a related note, one thing Mexico does right: They require financial statements for companies to be adjusted for inflation so you can see if your increase in profits and assets was real in terms of improved purchasing power. I wish the FASB required that here.
Those are the steps on the way....
To a dictatorship.
Until they don't. Then it's Zimbabwe time for the U.S.
Didn’t have time to read the whole post book, but my question is why do you think gold will fall to zero value? Is it not a commodity and the only thing that can make it valuless is an over supply or zero demand? When gold went to $225 it was because the Japanese and Brit banks sold off a load, but that was short lived. Unless they really do hit the Mother Lode, the miners have no technical way to flood the market mining microscopic gold.
The only coins worth keeping are nickles.
Dead cat bounce.
It may work tho.
Hmmm....Somebody took them. My husband had silver dollars-Kennedy and I forget who else. Maybe they are from the early ‘60’s???? Strange..I looked for them in our hiding place and they are gone. They were something we just stashed away and they are certainly away..far away.
Human sacrifice....dogs and cats living together...mass hysteria.
The physical, not the warrents.
Junk silver is pre-1964 with NO copper sandwich. 90% silver.
But I have heard nickels are good too. I think that last summer nickels were really worth a dime because of the commodity price for nickel increasing.
Oh yes... Read about this on a few sites, plus I trade in metals. Nickles, save.
Abosolutly, the total haul for the last 2,000 years is about what the goverment borrows annually.
Sad
Even so, it is smart to diversify when investing.
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