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Between 1930 and 1939 What Items Had Value In America?

storm888storm888 Posts: 11,701 ✭✭✭


I will start:


U.S. CASH Money.
Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.

Comments

  • RedTigerRedTiger Posts: 5,608
    U. S. Treasury bonds, gold mining stocks.
  • bidaskbidask Posts: 13,830 ✭✭✭✭✭

    your job
    I manage money. I earn money. I save money .
    I give away money. I collect money.
    I don’t love money . I do love the Lord God.




  • bluelobsterbluelobster Posts: 1,220 ✭✭✭
    slot machines, from 1929-1935, sales of one armed bandits trippled
  • WinPitcherWinPitcher Posts: 27,726 ✭✭✭
    If you owned a farm a few sons had value.


    Steve
    Good for you.
  • jmski52jmski52 Posts: 22,289 ✭✭✭✭✭
    FDR's place in Hyde Park
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • Liquor
  • storm888storm888 Posts: 11,701 ✭✭✭
    ALL good answers.

    My mother's side of the family were all dairy farmers, through the "Great Depression."

    They entered hard times as "economically average," and exited much wealthier. As
    their neighbors were dropping like flies, their access to CASH MONEY allowed them
    to expand their land holdings for cents on the dollar.

    The same dynamic will again play out, IF severe deflationary pressure is brought
    upon us during the coming "downturn."

    CASH - not PMs - are going to be the key. Depend on it.
    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • jmski52jmski52 Posts: 22,289 ✭✭✭✭✭
    The same dynamic will again play out, IF severe deflationary pressure is brought upon us during the coming "downturn."

    It seems to me that severe deflationary pressure is causing the Fed to create tons of money and credit, in order to prevent a deflationary recession. Now, you're telling us that it's not enough. Just where is all the cash going?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • sbeverlysbeverly Posts: 962 ✭✭✭
    Entertainment did well...

    People want to escape their problems..
    Positive transactions with Cladiator, Meltdown, ajbauman, LeeG, route66,DennisH,Hmann,FilamCoins,mgoodm3,terburn88,MrOrganic, weg,dcarr,guitarwes,Zubie,Barndog,wondercoin,braddick,etc...
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    family

  • OverdateOverdate Posts: 6,896 ✭✭✭✭✭
    Key date coins?

    I believe that coin collecting was becoming more popular during that time.

    My Adolph A. Weinman signature :)

  • storm888storm888 Posts: 11,701 ✭✭✭
    "...Now, you're telling us that it's not enough. Just where is all the cash going? ..."

    /////////////////////////////////////////////

    Ben's emergency money is not meant to be used by US peasants.
    The beneficiary "institutions" are to use the money to clean-up past
    mistakes. The money is NOT making it into "circulation." MANY banks
    that have received/borrowed Fed money are fairly flush; but, they sure
    aren't letting go of their CASH.........even to credit-worthy folks.

    THAT is where the deflationary pressure comes from. STOP looking
    at money-supply and look at money-access. A "credit-crunch" is
    price-deflationary, NOT "price-inflationary."

    The "rebate checks" mostly went to Arabia, with a tiny bit sent to
    China via Wal-Mart. The net-effect is DEFLATIONARY. Cash is hard
    to get; thus, ALL commodity prices MUST decline. (Look at the
    prices of corn/wheat/rice/etc. Compare those prices to their "recent
    highs;" and, the crash has likely only just begun.)

    Look at what was valued in the 1930s, if you really think "hard-times"
    are coming.
    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • jmski52jmski52 Posts: 22,289 ✭✭✭✭✭
    Ben's emergency money is not meant to be used by US peasants.
    The beneficiary "institutions" are to use the money to clean-up past
    mistakes. The money is NOT making it into "circulation."


    This much you have right.

    MANY banks that have received/borrowed Fed money are fairly flush; but, they sure aren't letting go of their CASH.........even to credit-worthy folks.

    You clearly haven't been following the financial news. Firstly, cash isn't the main part of US finance. Most money is in the form of credit now, and credit is what's being destroyed in the "deleveraging" of the housing market.

    Now, there's alot of semantics involved here, but basically the credit that's being destroyed should never have existed in the first place. The Fed created some of it, but by and large, the banks and the hedge funds created much, much more of this bogus stuff.

    The bogus stuff is going "poof" on balance sheets across the land. It never existed, except for what the bank officers took home in salaries & bonuses. The "poofing" of the imaginary money is "deflationary" as much as imaginary money can be deflated.

    But, the new credit that Bernake is creating at the Fed to replace the imaginary money that is poofing - is real. It's real because the Fed can get the Treasury to fund any amount of T-Bills (backed by YOU and ME) for his pet banks.

    Are you following this, because I'm not going to go over it more than once. If you think this is BS, fine.

    Anyhow, all of Bernake's new credit and electronic cash in the form of T-Bills is much different than the imaginary crap that's going poof. The monetary crap that Bernake is creating is the source of our new inflation. If you didn't get the memo, Bernake is a student of the Great Depression, and his stated purpose in life is to show how money creation by the Fed can prevent a deflationary depression.

    MANY banks that have received/borrowed Fed money are fairly flush; but, they sure aren't letting go of their CASH.........even to credit-worthy folks.

    THAT is where the deflationary pressure comes from. STOP looking
    at money-supply and look at money-access. A "credit-crunch" is
    price-deflationary, NOT "price-inflationary."


    See my above comments. Try again. It's true that many banks are getting healthier on new Fed money, which they are supposedly on the hook to pay back, but that window has already been extended. It's true that the slimebuckets have tightened lending standards like they should have all along - but not all of them. Some banks are already backsliding into easy money lending patterns (the same thing that caused the sub-prime problem in the first place).

    A credit crunch happens when interest rates are forced UP, in order to prevent cost-push inflation. If you knew anything about business and Bernake's stated mission, you would know that interest rates are only going up when business is about to get over-heated, which is certainly not the case right now. Business already has it's back to the wall in terms of credit availability. If Bernake even thought about an interest rate bump right now, Bush would have his job in a flash, and he wouldn't even be able to find work at Burger King. There's an election coming up, don'cha know?

    The "rebate checks" mostly went to Arabia, with a tiny bit sent to
    China via Wal-Mart.


    The rebate checks were a non-event in terms of the economy. Chicken feed.

    The net-effect is DEFLATIONARY. Cash is hard to get; thus, ALL commodity prices MUST decline. (Look at the prices of corn/wheat/rice/etc. Compare those prices to their "recent
    highs;" and, the crash has likely only just begun.)


    You're making my argument easy. What you just stated is exactly what Bernake is trained for. He's the deflation guru. He's Greenspan's anti-matter. His job is to avoid the big depression. You might have noticed that he talks about fighting inflation, but his actions support massive money-creation. The fact that the massive money creation to date has had only limited effect is troubling. So troubling, in fact that Big Bad Ben is going to have to hit the next one out of the ballpark with more money creation.

    I'm a simple man, but to me - that means more inflation.

    Look at what was valued in the 1930s, if you really think "hard-times

    This isn't 1930. This is probably worse. Don't worry, the Government is here to help you.

    This whole discussion doesn't even address the fact that every other government is inflating their currency in an effort to pump up their economies, to keep their products price-competitive on world markets, in order to maintain higher employment levels.

    The U.S. is in no position to keep sending manufacturing jobs overseas or to raise interest rates in order to support the dollar. Every bump in interest rates will cause a few hundred thousand U.S. workers to lose their jobs.

    I don't see how deflation can trump inflation at this point. In 1930, cash WAS king, people stopped spending money, demand fell, and people lost work. Bernake knows all this. He will create more money to induce the banks to finally start lending again, and that will cause commodities to go back into inflation mode.

    When I see something that tells me the Fed is changing their tactics, then I will change mine.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • storm888storm888 Posts: 11,701 ✭✭✭
    "You clearly haven't been following the financial news...."

    Trust me; I know a little about "the financial news." lmao

    "Firstly, cash isn't the main part of US finance. Most money is in the form of credit now......"

    Didn't think I needed to spell that out.

    "...and credit is what's being destroyed in the "deleveraging" of the housing market."..."

    Tell that to the guys who paid for my Escalade when I covered CFC and PMI. Tell that
    to the REO department at CFC and BAC. "Mark To Market" of either the paper or the
    foreclosed-property recognizes LOSS of CASH by the lender. That money - which you think
    is "credit" - went into the pockets of the previous players. The MTM flows through to the
    rest of the market and is CLEARLY "price deflationary."


    Metal-Bulls just don't get it. You cannot have ultra-high PM prices and a population with
    no access to cash/credit.





    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • One set of my grandparents were college professors. They bought an 80 acre property with a pre-revolutionary war house and barn near Hanover, N.H. as a summer house. They paid $2,000 cash for it.

    My other Grandfather worked for the US department of Justice. His wife was one of the first female reporters. They lived in the suburbs of New York. My Grandma sold movie rights to a book and with the $10,000 of proceeds paid cash for a pre-revolutionary house and 7 acres of land in Ridgefield CT, near the Danbury train station.

    Those were tough times for most. All 4 of my grandparents were very frugal, believed in saving and hard work and eschewed debt.

    Property was valuable but scary because of the deflation. It took guts to buy while prices were falling.
  • Oh, Uh, Cash was losing value during that period. In case I haven't made myself clear the ability to earn income was just about the only thing of value... Deflation was hurting the value of anybody who was lucky enough to have cash.
  • The most value was found in food! Both sides of my family were farmers, one side owned thousands of acres and the other were sharecroppers....the sharecropper side had nothing but what they could grow with their bare hands....cloths were made from flour sacks and what materials they could gather, nothing went to waste! The other side were land owners but they also had to work the land to eat! So I would say food was the most important to all the people.







    I would also have to say being in possession of land was of great value...at least you could work at keeping your family feed!
  • They were poor but they had food to eat! I still have 167 acres of this Historical land which has been passed down for 5 generations...sad part is I live 700 miles away from it!




    Today it grows the most beautiful cotton...it just might grow sugarcane in the near future!
  • BearBear Posts: 18,954 ✭✭
    The money is to support the house of cards

    The money is to keep the fat cats out of jail

    The money is to keep the illusions of well being
    alive at least until the National Elections are over.

    The money is to keep the Ship of State afloat.

    The money is for Show and Tell.
    There once was a place called
    Camelotimage
  • jmski52jmski52 Posts: 22,289 ✭✭✭✭✭
    Metal-Bulls just don't get it. You cannot have ultra-high PM prices and a population with no access to cash/credit.

    What part of "Bernake is a student of the Great Depression and will opt to inflate the currency" don't you understand?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • storm888storm888 Posts: 11,701 ✭✭✭


    << <i>Metal-Bulls just don't get it. You cannot have ultra-high PM prices and a population with no access to cash/credit.

    What part of "Bernake is a student of the Great Depression and will opt to inflate the currency" don't you understand? >>




    /////////////////////////////////////////////

    I mostly understand that LONGS with no exit-plan are destined to ride
    silver from highs to lows --- over and over again.

    They are always waiting for the "end" so they can win. The enemy won't
    allow an "end" that results in anything but losses for "buy and hold" folks.

    $20 was a nice safe jump off. LOTS of folks should have taken it. Riding
    from $21 to $13 was a silly play, and was based on a decades-old dogma
    spouted by the guys whose newsletters salt KITCO and the other
    SELLERS of metals.
    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • jmski52jmski52 Posts: 22,289 ✭✭✭✭✭
    They are always waiting for the "end" so they can win. The enemy won't allow an "end" that results in anything but losses for "buy and hold" folks.

    $20 was a nice safe jump off. LOTS of folks should have taken it. Riding from $21 to $13 was a silly play


    If that's your attempt at fundamental analysis, I'll pass.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • storm888storm888 Posts: 11,701 ✭✭✭
    "If that's your attempt at fundamental analysis, I'll pass."

    //////////////////

    "Fundamentals" are going to cost lots of folks big money, going forward.

    The "fundamentals" say gold should be $2K+.

    The ONLY winning bet now is that THEY will not allow anything "bad" to happen
    to their system until AT LEAST the second week of November.
    Folks Who Bite Get Bitten. Folks Who Don't Bite Get Eaten.
  • morgansforevermorgansforever Posts: 8,428 ✭✭✭✭✭
    <<Between 1930 and 1939 What Items Had Value In America?>>

    A loaf of bread, rice, and milk.
    World coins FSHO Hundreds of successful BST transactions U.S. coins FSHO
  • elwoodelwood Posts: 2,414


    << <i>Between 1930 and 1939 What Items Had Value In America? >>



    Cash and no debt.







    << <i>They are always waiting for the "end" so they can win. The enemy won't allow an "end" that results in anything but losses for "buy and hold" folks.

    $20 was a nice safe jump off. LOTS of folks should have taken it. Riding from $21 to $13 was a silly play >>







    << <i>If that's your attempt at fundamental analysis, I'll pass. >>




    I guess you think it's a great investment to pile into something that has gone up 3+ fold in less than five years? And bad advice to take some reasonable

    profits, if you have them or at least take a little money off the table. Anybody who wasn't thinking about taking some profits when silver hit $18-$19 got emotionally attached to their investment.

    People really need to take emotions out of their investment decisions. I've been burned many times getting emotionally attached to an investment.













    Please visit my website prehistoricamerica.com www.visitiowa.org/pinecreekcabins
  • jmski52jmski52 Posts: 22,289 ✭✭✭✭✭
    I guess you think it's a great investment to pile into something that has gone up 3+ fold in less than five years? And bad advice to take some reasonable profits, if you have them or at least take a little money off the table.

    People really need to take emotions out of their investment decisions. I've been burned many times getting emotionally attached to an investment.


    That's a fair observation. Actually, in terms of portfolio theory I am a bad money manager. I am qualified to know this because I do have an MBA in Finance. I understand risk and I understand how to calculate return on investment. I have been piling into pms for about 10 years and I'm now so overweighted in physical metals that it's getting to be a p-i-t-a.

    Anybody who wasn't thinking about taking some profits when silver hit $18-$19 got emotionally attached to their investment.

    And do what with the money???? I've stated that I see no better alternatives for my money, even to the extent that I removed all of my funds from all of my retirement accounts, paid the taxes and the penalties - just to get it out of the system. I sincerely believe that the financial system is a major risk - as we speak.

    For the record, as this crash in pms has occurred, I stopped buying metals (to hoard cash) except for a couple more OBW rolls of silver. I recognize that my timing has been all wrong lately in my metals buys. However, I made a critical decision that it's better to have the physical metal than to try and arm-wrestle profits from the market. If I needed the cash anytime soon, I wouldn't have done it the same way, but that's not an issue.

    Further, everyone has a perspective that is based on their own financial position. If I had debt, I wouldn't be buying anything. I'm not willing to go out on a limb for a quick buck right now - especially by shorting something in a margin account, as is being touted in this thread. That's always been a sucker bet, and it's predicated upon using someone else's money to try and grab someone else's stuff because the market moves one way or the other. That whole technique of playing the market is a gamble that the shorts will never have to cover and that there will never be a shortage. Fine - I can accept that, too. And I can beat him at his own game. Stay tuned.

    Bottom line - at my current place in life, I'd rather be accumulating silver than not. I don't see any changes in the way the Fed is doing business. Until I do, I'm not changing my investment stance. The details will work themselves out. B-T-W, $19.00 silver - that is really not even getting warmed up. Who's in a hurry? Besides, I'm not losing any sleep over it. Silver has paid for my ex's law school and a place in the country for me. I'm not concerned.



    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    CASH - not PMs - are going to be the key. Depend on it. Metal-Bulls just don't get it. You cannot have ultra-high PM prices and a population with no access to cash/credit.

    You must have forgot to read the accounts of the great depression where gold was so favored that the President had to ban ownership. The simple act of raising the pog from $20 to $35 in 1933 effectively gave the dollar an overnight 60% haircut with respect to gold. Don't look now but metal prices went very high in the 1970's when interest rates pushed 20% and credit was hard to get for most people. That was coined stagflation and the root cause was the removal of the gold standard in 1971. The population had relatively little/tight access to cash and credit and hunkered down.

    Cash is hard to get; thus, ALL commodity prices MUST decline. (Look at the prices of corn/wheat/rice/etc. Compare those prices to their "recent highs;" and, the crash has likely only just begun.)
    Look at what was valued in the 1930s, if you really think "hard-times" are coming.


    See the first paragraph again with gold up 60% compared to the dollar in 1933 and the president so scared of gold that he banned private ownership except for small quantities and/or collectible coins. You probably didn't notice that Homestake mining (today called Newmont) increased some 6X during the 1930's. Not a bad play in a failing stock market where the only gold ownership was left to mining stocks. You might want to rework your statement to "ALL commodity prices MUST decline...except gold stocks and gold" as history as shown. The dollar never made up that 60% haircut in the 1930's.

    They are always waiting for the "end" so they can win. The enemy won't allow an "end" that results in anything but losses for "buy and hold" folks........what happend in the 70's??

    What happened in the 70's? The FED and Treasury blew it, that's what. They let gold advance from $35 to $875 and silver from $1/oz to $50/oz with inflation of hard assets roaring at 20% while the dollar and stocks sank. I would say that "THEY" sure screwed up and let the enemy win (lol). The hard asset folks had a free for all for 9 years from 1971-1980. Sinclair was one of those that exited at $850 gold pocketing some $25 MILL in profits. Looks to me like gold in the 30's and 70's was a good place to be....that's history speaking and not fundamentals, charts, or wishes. Even Volcker in retrospect has stated that he let gold and silver get out of hand in the 1970's. Yeah, they blew it good. Doesn't mean they know better today either.

    I guess you think it's a great investment to pile into something that has gone up 3+ fold in less than five years? And bad advice to take some reasonable...

    Too funny. How many people jumped into the stock market in the 1990's after it had tripled from 1987? More jumped in at 4X, 5X, 6X, 7X, 8X, etc. You get my drift? But it's smart in a stock bull market to hang in for the long term but dumb in a commodities bull market? Right! That's why 401K's load you up with pre-packed retirement plans labeled 2025, 2030, 2035, 2040, etc. I was one of those calling that whole DOW/Nasdaq "convoy" a Ponzi scheme back in 1997 when DOW first hit 7500. The FED geared up the monetary presses from 1996-2000 to push things along just as they are doing today...only today it is for bail out damage control for the $1 QUAD in derivatives looming overhead.

    ....profits, if you have them or at least take a little money off the table. Anybody who wasn't thinking about taking some profits when silver hit $18-$19 got emotionally attached to their investment.

    Hardly. I bought 75% of my silver when it was $5-$7 an ounce. Haven't sold a dime of it yet. I did make a mistake and buy one shot at $20/oz but at least those were govt issued ouncers that carry a stiff premium to spot which saved me a good bit on the downturn. I'm not here to trade and be out at the wrong time. I'd rather play the entire length of the bull to the point where stocks are a hated commodity as they were in 1980-1982. At that point it will be time to slowly move back to stocks and out of silver. To those that can trade often and successfully, good luck to you. 95% of Americans can't or don't do that regardless of how many say they do. Invariably the ones that do the best and actually profit from long market cycles are the ones who buy in early and exit toward the end. Those with the trader bravado mentality usually end up going bust at some point on a bad trade or on margin. Look at all the insolvent major corporations, banks, hedge funds, and GSE's going splat because they "thought" they knew how to trade or invest their money.

    I'm with jmski52 on this one.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • cinman14cinman14 Posts: 2,489
    China will not allow us to go into a Great Depression..image They have too much to lose if we do...image
  • elwoodelwood Posts: 2,414


    << <i>And do what with the money???? I've stated that I see no better alternatives for my money, even to the extent that I removed all of my funds from all of my retirement accounts, paid the taxes and the penalties - just to get it out of the system. I sincerely believe that the financial system is a major risk - as we speak. >>



    jmski52........you've definitely got some big cajones!!! I'm impressed by your commitment, can't say mine are that largeimage I guess I've never felt that strongly about anything I've invested in. To me all investing is just a gamble.





    << <i>Besides, I'm not losing any sleep over it. Silver has paid for my ex's law school and a place in the country for me. I'm not concerned. >>



    If you don't lose sleep then all is well, it sounds like your plan has worked out. And appears you have taken a few profits along the way?








    << <i>Too funny. How many people jumped into the stock market in the 1990's after it had tripled from 1987? More jumped in at 4X, 5X, 6X, 7X, 8X, etc. You get my drift? But it's smart in a stock bull market to hang in for the long term but dumb in a commodities bull market? Right! >>



    I didn't say it was smart to do it with the stock market, did I? I don't think it's smart to do it with any investment vehicle. I don't quite understand your statement? Are advocating it's ok to get in on something that has gone up 5-8x's or saying it's a bad idea?




    All I know is that the best way to invest is to be diversified. I'm prepared for any turn of events through diversification. That includes cash, pm's, stocks, bonds, land, private business, collectables, agriculture (food), etc.





    << <i>only today it is for bail out damage control for the $1 QUAD in derivatives looming overhead >>



    You always bring up these derivatives. Considering world wealth is estimated to be $500-$600 Trillion. $1 Quad has no relevance since it would wipe out twice the total of the worlds wealth? I'm not saying that the derivatives issue isn't a very serious one, it is. But isn't that what all this current turmoil is about. The unwinding of much of this risk? Who knows how it will turn out.

    This may sound like a personal attack, it's not, but you sound like a broken recorded repeating the same rant over and over and over. Just say something positive, pleaseimage

    I hope for the best and prepare for the worst.

    I know there are many financial problems in this country. I truely believe they are fixable. We're not at the edge just yet or maybe we have been this last year and have now taken a couple steps back from falling off?

    To me the pull back in PM's is a sign that "the powers that be" see things getting better in the world, not worse. You just have to figure out how much of the fear factor was priced into PM's.







    Please visit my website prehistoricamerica.com www.visitiowa.org/pinecreekcabins
  • WalmannWalmann Posts: 2,806
    Having seen lived in a country with high inflation yet the majority of the population had little or no cash, almost all items of either practical usefullness or those that could be exchanged outside the country were greatly valued. In this case diamonds were most often the medium of choice for "forgein exchange". After that gas and kerosene would be number two and three followed by gold (this was only seen being used by the business class, common folks did not have access).

    Pretty much it turned into a barter system where a seller would rather accept batteries or a metal dish if they could over currency. The national currency would be accepted but only at a massive premium, yet as I stated the average Joe, often had no currency or if they did it was generally not enough to buy any of the basics staples.

    In the few "urban" areas of the country, food was high in the list of desirable goods to obtain. But this was less than 20% of the population. Although a few "imported" food items were desirable everywhere, bullion cubes (chicke or beef not gold or silver) were highly appreciated.

    Where as barter may not have been as extensvie in the US during the great depression, the view that most items of practical use had value was mirrored. Compared to our throw away culture of today a very different attitude.

  • People really need to take emotions out of their investment decisions. I've been burned many times getting emotionally attached to an investment.


    That's very true, which is why it's so hard to "trade", or even to predict which sector or type of investment will be the next hot thing. Every investment mistake I've made has been as a result of becoming emotionally "invested" in a stock or sector.


    All I know is that the best way to invest is to be diversified. I'm prepared for any turn of events through diversification. That includes cash, pm's, stocks, bonds, land, private business, collectables, agriculture (food), etc.

    Great advice. The 100% pm bulls and the 100% stock bulls are both setting themselves up for a fall IMO.

  • jmski52jmski52 Posts: 22,289 ✭✭✭✭✭
    Great advice. The 100% pm bulls and the 100% stock bulls are both setting themselves up for a fall IMO.

    Just because I might be extremely overweighted in physical metals because I don't like paper at this moment in time does not mean that I think you should do the same thing.

    Don't try this trick at home!image

    My fiancee' is a nurse and she has a t-shirt that I like. It has a picture of a hand holding a giant syringe and a caption that says, "Trust Me, I know what I'm doing....."
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cladkingcladking Posts: 28,282 ✭✭✭✭✭


    << <i>I will start:


    U.S. CASH Money. >>




    Silver fell to an all time low in 1935 when the dollar had only about 25c
    worth of silver in it. Ironically the clad Ike recently exceeded this value.
    That's the cu/ ni clad Ike by the way.

    Money always has value. In deflation it's hard to get and buys a lot, in
    inflation, it's easier to get but buys much less.
    Tempus fugit.
  • jmski52jmski52 Posts: 22,289 ✭✭✭✭✭
    Ironically the clad Ike recently exceeded this value.
    That's the cu/ ni clad Ike by the way.

    Money always has value. In deflation it's hard to get and buys a lot, in inflation, it's easier to get but buys much less.


    cladking, I was actually thinking about this when I was setting my cash position aside. I was going to get rid of the rolls and rolls of nickels that I have saved, and the golden dollars and Presbucks - but they might just have a worthwhile value that can be utilized if needed!
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cladkingcladking Posts: 28,282 ✭✭✭✭✭


    << <i>Ironically the clad Ike recently exceeded this value.
    That's the cu/ ni clad Ike by the way.

    Money always has value. In deflation it's hard to get and buys a lot, in inflation, it's easier to get but buys much less.


    cladking, I was actually thinking about this when I was setting my cash position aside. I was going to get rid of the rolls and rolls of nickels that I have saved, and the golden dollars and Presbucks - but they might just have a worthwhile value that can be utilized if needed! >>



    It's difficult to believe any clad represents a good store of value
    especially with face so high and this goes about three times over
    for dollar coins. Numismatic dollar coins may be interesting and
    nickels are cheap if you have the storage room but typical clad is
    not a good investment.

    In deflation there might be some small premium for coin over pa-
    per but deflation is so frightening that I don't even really protect
    myself against it any longer.
    Tempus fugit.
  • jmski52jmski52 Posts: 22,289 ✭✭✭✭✭
    Numismatic dollar coins may be interesting and
    nickels are cheap if you have the storage room but typical clad is
    not a good investment.


    clad, I weighed the amount of time & effort that it would take to sell the stuff on ebay, and I decided that it's worth more as it sits, and sits. I put a bunch of it in my safe, so that if there's ever a break-in, the thieves will have to cart out an ungodly-heavy safe full of pennies and nickels, hopefully dropping it on a toe or causing a hernia. There is justice in the world.image

    If deflation occurs, then the stuff will be worth more on a relative basis as cash becomes more valuable, a scenario that I think is quite unlikely.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • lathmachlathmach Posts: 4,720
    Canning jars.
    I remember my dad telling me that one year there was a bumper crop of wild blackberries.
    He said no one had any money to buy any canning jars, so most of the berries went to waste.

    Ray
  • Yep, anything to do with food...numero uno!
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    I have to agree with jmski.

    M3 stopped being reported for about three(?) years now. That gave me a signal that inflation in full speed ahead and it has panned out.

    The Feds don't want anyone to know how cash is being cranked out... That is not deflationary...like the lack of cash in the FDR days.

    Big Ben has stated numerous times he is fighting inflation. Look at the CB action of late...or of anytime. This is a great time accumulate PM's at these lower prices.

    We could see a Germany 1920's type of scenario.

    I think we all need to see the upcoming movie IOUSA. I saw a blurb on Beck's show yesterday of how bad our debt is when Medicare, Social Security begin to "really" drag on our economy. The guest speaker who was the GAO indicated that the scenario is catastrophic.

    I would want to own PM's and when this all washes out, I would then trade some of my PM's for the new currency.

    Ren

    Ren
  • jmski52jmski52 Posts: 22,289 ✭✭✭✭✭
    The guest speaker who was the GAO indicated that the scenario is catastrophic.

    David Walker was head of the Government Accounting Office for the past several presidents. He's done the numbers.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>The guest speaker who was the GAO indicated that the scenario is catastrophic.

    David Walker was head of the Government Accounting Office for the past several presidents. He's done the numbers. >>



    Thanks, and his numbers are downright insane.

    I can't fathom those numbers and there is no way of paying off our debt and future entitlements imo. Even if we cut spending and raise taxes I think we are beyond the point of no return, again imo.

    My reasoning is that in theory it may be possible but the reality is that there are no Andrew Jackson's out there to get the job done. I don't see a "leader" that will take on this Everest of debt.

    I really have to conclude that at some point some event will reveal to all of us here what we have known all along...a gigantic game of musical chairs except this time when the music stops there will be no chairs, meaning, no middle class and a country that is unrecognizable.

    Ren
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