Like with everything, there will be rising tides and toilets flushing. Just gotta pick your spots and have cash on hand ready to buy when (you feel) the time is right.
To forgive is to free a prisoner, and to discover that prisoner was you.
<< <i>This is all so very sad and worse is 90% of the population has no idea we are waist deep in poop. One morning they will wake up and be shocked. >>
It's only coffee break-time, then we go back to standing on our heads.
<< <i>Long on rhetoric, but short on facts, I'm not buying it. >>
Here's a fact. We had a collapse of the financial system in 2007-08 and nothing really has been done about it except that the Fed printed more $$ to fix the problem of cheap money. The Fed is throwing gasoline on the fire. The financial system is worsening not improving. Try and wrap your head around that.
"Poets are the unacknowledged legislators of the world." PBShelley
<< <i>Long on rhetoric, but short on facts, I'm not buying it. >>
Here's a fact. We had a collapse of the financial system in 2007-08 and nothing really has been done about it except that the Fed printed more $$ to fix the problem of cheap money. The Fed is throwing gasoline on the fire. The financial system is worsening not improving. Try and wrap your head around that. >>
All indications are that the financial system is improving; otherwise, there would be bread lines and we would be in a depression. Precious metals are on the rise due primarily to instability in European countries and the unrest in the middle east. Yes food prices and oil are up and it's being driven by a falling dollar, but there is no hyperinflation, just hype.
P.S. Your "fact" is not a fact.
"It's far easier to fight for principles, than to live up to them." Adlai Stevenson
Great video. I encourage anyone to try and disprove any of the facts discussed in it.
It's interesting, especially since it was released in the 4th quarter of 2009. We are already seeing the quick rise of food prices that was mentioned in the latter half of the film. Hyperinflation? Of course not....yet. But anyone that has a basic understanding of currency and the dollar, and economics, knows that the time to prepare is NOW, because the collapse of the dollar is coming.
All it's going to take is a catalyst and the house of cards come down. War in the Middle East, major terrorist attack, major spike in oil prices, replacement of the dollar as the world reserve currency, or some other unforseen trigger. Once one or more of these occur, it's going to happen, and happen rather quickly.
Of course there will be many people that will be caught completely unaware. There will even be many, many more who refused to believe it could even occur, no matter how many times you tried to warn them. Then there will be the few who are prepared. My family and i have chosen to belong to the latter group. Hey, if I'm entirely wrong, no big deal - so we've got a few extra monts of food on hand, some precious metals we can turn into cash, and a decent garden in the front yard. If I'm right, we have the necessary resources to endure the storm.
<< <i>Great video. I encourage anyone to try and disprove any of the facts discussed in it.
It's interesting, especially since it was released in the 4th quarter of 2009. We are already seeing the quick rise of food prices that was mentioned in the latter half of the film. Hyperinflation? Of course not....yet. But anyone that has a basic understanding of currency and the dollar, and economics, knows that the time to prepare is NOW, because the collapse of the dollar is coming.
All it's going to take is a catalyst and the house of cards come down. War in the Middle East, major terrorist attack, major spike in oil prices, replacement of the dollar as the world reserve currency, or some other unforseen trigger. Once one or more of these occur, it's going to happen, and happen rather quickly.
Of course there will be many people that will be caught completely unaware. There will even be many, many more who refused to believe it could even occur, no matter how many times you tried to warn them. Then there will be the few who are prepared. My family and i have chosen to belong to the latter group. Hey, if I'm entirely wrong, no big deal - so we've got a few extra monts of food on hand, some precious metals we can turn into cash, and a decent garden in the front yard. If I'm right, we have the necessary resources to endure the storm. >>
Excellent first post, Moxie! And welcome to the forum. I concur wholeheartedly with your succinct summary, and I echo the poignant admonition for people to be prepared. Too, you hit the nail on the head by saying that no matter how many times you try to warn most people, they won't listen. That's the really sad part.
.....GOD
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
<< <i>Long on rhetoric, but short on facts, I'm not buying it. >>
Here's a fact. We had a collapse of the financial system in 2007-08 and nothing really has been done about it except that the Fed printed more $$ to fix the problem of cheap money. The Fed is throwing gasoline on the fire. The financial system is worsening not improving. Try and wrap your head around that. >>
All indications are that the financial system is improving; otherwise, there would be bread lines and we would be in a depression. Precious metals are on the rise due primarily to instability in European countries and the unrest in the middle east. Yes food prices and oil are up and it's being driven by a falling dollar, but there is no hyperinflation, just hype.
P.S. Your "fact" is not a fact. >>
Hello? Where were you 2007 and 2008? I agree with you though that there's no Hyperinflation, yet.
"Poets are the unacknowledged legislators of the world." PBShelley
Well, at least you guys can enjoy having this same conversation for the rest of your lives, while the dollar lives on and on and on...
weakened, inflated, sure. Joined with other currencies as a "basket" for world reserves, maybe. takes more of them to buy a loaf of bread, a new dress shirt, or an ounce of metal, quite likely.
but you'll be earning more of them in your job than ever before, too, and paying off your mortgage with dollars that are easier to earn.
Those lamenting the bygone days of 15c hamburgers and 29c gasoline seem to forget that they only made two bucks an hour at a good job.
<< <i>im still kicking my rear end for not buying a boat load at $8 an ounce. who knew >>
You can go back to the main thread circa 2004-2005 to find out who knew. Surprisingly, there were quite a few.
percyb has it right. The problems have been papered over with about $10-$20 TRILLION worth. But how long can that go on?
The primary cause of the crash were otc derivatives....$1.14 QUAD worth of them. 85% of them are still out there and most interest rate related, marked to model/myth, so that they won't upset the apple cart for the time being. The day of reckoning has only been put off, not eliminated. Just think that the default of $30 TRILL in CDS and about $5-$10 TRILL in MBS derivatives caused the mess from 2007-2008. What happens when the Interest Rate swaps, which are about 10X that size decide to show themselves? Some claim (or hope) that they can be cancelled out amongst themselves. Ok, if that's the case, then why hasn't anything obviously so simple been done in that regards over the past 3 yrs?
Those lamenting the bygone days of 15c hamburgers and 29c gasoline seem to forget that they only made two bucks an hour at a good job.
Yup. They also had a financial system that wasn't broke, a realistic expectation of affordable health care and soc. security benefits, as well as looking forward to retiring at age 65. Those options are no longer available to J6P. The dollar's slide began in 1986 with a smaller secondary peak in 2001.
<< <i>Well, at least you guys can enjoy having this same conversation for the rest of your lives, while the dollar lives on and on and on...
weakened, inflated, sure. Joined with other currencies as a "basket" for world reserves, maybe. takes more of them to buy a loaf of bread, a new dress shirt, or an ounce of metal, quite likely.
but you'll be earning more of them in your job than ever before, too, and paying off your mortgage with dollars that are easier to earn.
Those lamenting the bygone days of 15c hamburgers and 29c gasoline seem to forget that they only made two bucks an hour at a good job. >>
That's fine for you to say but some of us are on fixed incomes and it will get harder and harder for us to compete with rising prices when our
<< <i>My family and i have chosen to belong to the latter group. Hey, if I'm entirely wrong, no big deal - so we've got a few extra monts of food on hand, some precious metals we can turn into cash, and a decent garden in the front yard. If I'm right, we have the necessary resources to endure the storm. >>
There is nothing wrong with this approach. Just as long as folks don't sell the boat to prepare for the flood.
I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.
<< <i>Those lamenting the bygone days of 15c hamburgers and 29c gasoline seem to forget that they only made two bucks an hour at a good job. >>
I often wondered why I didn't save $20 rolls of IKE Dollars and $10 rolls of Kennedy's back in the early 70's.
Then I remembered that I only grossed $130 a week!
With take home pay in the neighborhood of $105, a single roll of dollars would have been 1/5 of my spendable weekly income. Throw that up against a $175 a month rent payment and $40 a week grocery bill and things got pretty tight pretty quick.
I'm not saying folks shouldn't be prepared as much as I am saying that folks should be "paying" attention.
Whats that old saying about "hind-sight"?
Better yet, what would have been the better buy? $1,000 in Microsoft Stock or $1,000 in gold back in 1982?
I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.
<< <i>Moxie, if you keep talking like that, people will start looking at you nervously and whisper behind your back that you're a nut job. Welcome! >>
LOL. So true.
I guess I'd rather at attempt to encourage others to prepare for a possible catastrophy (even at the expense of sounding silly), than just pretend that all is wine and roses.
I may be wrong, I may be right, but no matter, I'll be prepared. It'll costs me very little if I am wrong but prepared. It'll cost me dearly if I am right and unprepared.
Anywho, thanks for the welcome. I just started seriously buying PMs three months ago. I know I'm a little late in the game, but still plan on investing more each month. I found this board to be a great resource. Glad I found it.
Better yet, what would have been the better buy? $1,000 in Microsoft Stock or $1,000 in gold back in 1982?
Same question, but in 2002? Different eras, different picks. Just let us know what the new "Microsoft" will be in 2012 so we can all jump onboard. Don't want to miss the boat twice.
It's probably a rare individual indeed that bought $1000 of Microsoft stock in 1982 and didn't dump it long before they would have gotten to $10,000....let alone $100,000 or $1,000,000. But all those that did buy some in the early to mid-80's can keep on dreaming of what could have been.
<< <i>My family and i have chosen to belong to the latter group. Hey, if I'm entirely wrong, no big deal - so we've got a few extra monts of food on hand, some precious metals we can turn into cash, and a decent garden in the front yard. If I'm right, we have the necessary resources to endure the storm. >>
There is nothing wrong with this approach. Just as long as folks don't sell the boat to prepare for the flood. >>
Good point. But it doesn't have to cost a fortune and it doesn't have to be done all at once.
Get out of debt (primarily non-mortgage balances). My wife and I did this 5 years ago, and it probably saved our marriage. Buy extra food that has a long-term shelf life. Also get extra toothpaste, shampoo, soap, etc. Work on getting a reserve of 3 to 6 months. Do it as you can afford it. Buy PMs. We do it primarily as a way to preserve some resemblence of wealth (just incase). So again, do it in small amounts as you can afford it. Purchase other items that can be used for any type of emergency - hand water filter, matches or lighter, first aid kit, etc. Always good to have stuff like this handy. Obtain some means of protection. If you feel uncomfortable with firearms, heck, a slingshot will do. If you have a little land, start a garden. Seeds are still cheap.
That's the approach my wife and I have taken. We look at it as insurance. With three kids, we felt that it was a good idea. Though it took a little convincing to get my wife on board for the PMs purchasing.
<< <i>im still kicking my rear end for not buying a boat load at $8 an ounce. who knew >>
Me too, but in 2015 I feel we'll be looking back to 2011 and how $33-34 was a bargain.
Silver- the new gold
copper- the new silver (based on poundage, not ounces)
Question for you guys. If melting copper cents is illegal does this prevent these cents from being worth anything more than one cent? I'm presenting this as as it appears the law prevents them from being anything more than face value money.
<< <i>Moxie, if you keep talking like that, people will start looking at you nervously and whisper behind your back that you're a nut job. Welcome! >>
LOL. So true.
I guess I'd rather at attempt to encourage others to prepare for a possible catastrophy (even at the expense of sounding silly), than just pretend that all is wine and roses.
I may be wrong, I may be right, but no matter, I'll be prepared. It'll costs me very little if I am wrong but prepared. It'll cost me dearly if I am right and unprepared.
Anywho, thanks for the welcome. I just started seriously buying PMs three months ago. I know I'm a little late in the game, but still plan on investing more each month. I found this board to be a great resource. Glad I found it. >>
Welcome Moxie!
There are a number of very smart and practical people on this board.
American Numismatic Association Governor 2023 to 2025 - My posts reflect my own thoughts and are not those of the ANA.
<< <i>im still kicking my rear end for not buying a boat load at $8 an ounce. who knew >>
Me too, but in 2015 I feel we'll be looking back to 2011 and how $33-34 was a bargain.
Silver- the new gold
copper- the new silver (based on poundage, not ounces)
Question for you guys. If melting copper cents is illegal does this prevent these cents from being worth anything more than one cent? I'm presenting this as as it appears the law prevents them from being anything more than face value money. >>
If or should I say when they change the nickel composition and get rid of the cent, the law will be lifted within a few years.
American Numismatic Association Governor 2023 to 2025 - My posts reflect my own thoughts and are not those of the ANA.
<< <i> All indications are that the financial system is improving; otherwise, there would be bread lines and we would be in a depression. Precious metals are on the rise due primarily to instability in European countries and the unrest in the middle east. Yes food prices and oil are up and it's being driven by a falling dollar, but there is no hyperinflation, just hype >>
I usually let spin like this go but this is tasty and I can't resist. Forgive me.
1) All indications are that the financial system is improving? It's really hard to polish a turd * the financial system) but I'm game. How did you come to this conclusion? Why because the stock market is going up? Really, I mean really? How so? A patch is a patch is patch.
2) Precious metals on the rise because of instability in Europe and unrest in the middle east? You are killing me. So, isn't that why one owns PM's and for exactly that reason? One owns them for times of instability at home and abroad like what's happening in Northern Africa, right? Like what could happen in Wisconsin/Illinois or California in the future. Pick another state if one of these don't suit you. Several are boardering on BK. PM's have rallied nicely and there hasn't been a peep out of Europe in weeks. The euro is at $1.375 vs the dollar. Shouldn't it be like ........... a lot lower if what your spin were remotely true?
3) You are right about one thing----this is no hyperinflation............yet. Hyperinfaltion comes unannounced and often overnight and is a 100% a product of a currency event. It's caused only by a loss of confidence in a currency. The ingrediants are there I would hazard to guess.
4) Q----Why is the dollar falling?
edited as I typed this on a plane and I was rushed as we were landing. It was choppy. My reply, that the flight.
MJ
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Gecko's OP headline sounds like he just realized the dollar is toast. It's been toast for a decade plus and getting more burnt each year. Eventually we'll end up will ashes. Most of the "lunatics" on this forum saw this coming years ago.
We all know what to do but we are all in different stages in our life. So do what you can with every paycheck. "Keep on stackin'." That has many meanings...be it PM's, food, ammo, cash, seeds, knowledge, whatever. The best thing to do is to stay informed. Can you really prepare for Armaghedon? No. Can you prepare for a job loss or protracted recession, depression? Yes, and that's the goal.
The "quadrillion meltdown" is not something all of us can insulate ourselves from. That scenario will affect all of us, even rr.
<< <i> If or should I say when they change the nickel composition and get rid of the cent, the law will be lifted within a few years. >>
good point. I haven't been actively going after copper like going through rolls or anything. I've been just pulling coppers out of change I get. Wondered if it was worth the time. I figure at worst I would have some rolled change I could cash in.
<< <i>Long on rhetoric, but short on facts, I'm not buying it. >>
Here's a fact. We had a collapse of the financial system in 2007-08 and nothing really has been done about it except that the Fed printed more $$ to fix the problem of cheap money. The Fed is throwing gasoline on the fire. The financial system is worsening not improving. Try and wrap your head around that. >>
All indications are that the financial system is improving; otherwise, there would be bread lines and we would be in a depression. Precious metals are on the rise due primarily to instability in European countries and the unrest in the middle east. Yes food prices and oil are up and it's being driven by a falling dollar, but there is no hyperinflation, just hype.
P.S. Your "fact" is not a fact. >>
There would be breadlines forming? Are you serious? There are more people on (and new applicants for) food stamps than ever before! So if the government sets up a soup kitchen for the poor, then THATS a sign of a bad economy.....yet if BILLIONS (2.7 billion spent on food stamps per year in Illinois alone) of dollars for food are mailed to millions of people who cannot afford food, then there is no problem and everything is cool? One word comes to mind Steve......"delusional".
Even if you dismiss the "collapse of the dollar" theory, if you dismiss the catalyst of trillions in debt, you cannot dismiss the exploding demand for PMs and other commodities from China and India.
I could throw out all the financial pressures and acquire PMs and other commodity investments on that single factor alone.
gecko109
Posts: 8,231 ✭
Comments
Fred, Las Vegas, NV
<< <i>Long on rhetoric, but short on facts, I'm not buying it. >>
GREAT! that leaves more for me to buy!
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
Me too but the prices are sure jumping fast.
<< <i>This is all so very sad and worse is 90% of the population has no idea we are waist deep in poop. One morning they will wake up and be shocked.
It's only coffee break-time,
then we go back to standing on our heads.
I'll continue to DCA into Ag on a monthly basis.
_Reset
<< <i>Long on rhetoric, but short on facts, I'm not buying it. >>
Here's a fact. We had a collapse of the financial system in 2007-08 and nothing really has been done about it except that the Fed printed more $$ to fix the problem of cheap money. The Fed is throwing gasoline on the fire. The financial system is worsening not improving. Try and wrap your head around that.
<< <i>
<< <i>Long on rhetoric, but short on facts, I'm not buying it. >>
Here's a fact. We had a collapse of the financial system in 2007-08 and nothing really has been done about it except that the Fed printed more $$ to fix the problem of cheap money. The Fed is throwing gasoline on the fire. The financial system is worsening not improving. Try and wrap your head around that. >>
All indications are that the financial system is improving; otherwise, there would be bread lines and we would be in a depression. Precious metals are on the rise due primarily to instability in European countries and the unrest in the middle east. Yes food prices and oil are up and it's being driven by a falling dollar, but there is no hyperinflation, just hype.
P.S. Your "fact" is not a fact.
In the words of Chuck D...Don't believe the hype
<< <i>im still kicking my rear end for not buying a boat load at $8 an ounce. who knew >>
It's interesting, especially since it was released in the 4th quarter of 2009. We are already seeing the quick rise of food prices that was mentioned in the latter half of the film. Hyperinflation? Of course not....yet. But anyone that has a basic understanding of currency and the dollar, and economics, knows that the time to prepare is NOW, because the collapse of the dollar is coming.
All it's going to take is a catalyst and the house of cards come down. War in the Middle East, major terrorist attack, major spike in oil prices, replacement of the dollar as the world reserve currency, or some other unforseen trigger. Once one or more of these occur, it's going to happen, and happen rather quickly.
Of course there will be many people that will be caught completely unaware. There will even be many, many more who refused to believe it could even occur, no matter how many times you tried to warn them. Then there will be the few who are prepared. My family and i have chosen to belong to the latter group. Hey, if I'm entirely wrong, no big deal - so we've got a few extra monts of food on hand, some precious metals we can turn into cash, and a decent garden in the front yard. If I'm right, we have the necessary resources to endure the storm.
<< <i>Great video. I encourage anyone to try and disprove any of the facts discussed in it.
It's interesting, especially since it was released in the 4th quarter of 2009. We are already seeing the quick rise of food prices that was mentioned in the latter half of the film. Hyperinflation? Of course not....yet. But anyone that has a basic understanding of currency and the dollar, and economics, knows that the time to prepare is NOW, because the collapse of the dollar is coming.
All it's going to take is a catalyst and the house of cards come down. War in the Middle East, major terrorist attack, major spike in oil prices, replacement of the dollar as the world reserve currency, or some other unforseen trigger. Once one or more of these occur, it's going to happen, and happen rather quickly.
Of course there will be many people that will be caught completely unaware. There will even be many, many more who refused to believe it could even occur, no matter how many times you tried to warn them. Then there will be the few who are prepared. My family and i have chosen to belong to the latter group. Hey, if I'm entirely wrong, no big deal - so we've got a few extra monts of food on hand, some precious metals we can turn into cash, and a decent garden in the front yard. If I'm right, we have the necessary resources to endure the storm. >>
Excellent first post, Moxie! And welcome to the forum. I concur wholeheartedly with your succinct summary, and I echo the poignant admonition for people to be prepared. Too, you hit the nail on the head by saying that no matter how many times you try to warn most people, they won't listen. That's the really sad part.
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
<< <i>
<< <i>
<< <i>Long on rhetoric, but short on facts, I'm not buying it. >>
Here's a fact. We had a collapse of the financial system in 2007-08 and nothing really has been done about it except that the Fed printed more $$ to fix the problem of cheap money. The Fed is throwing gasoline on the fire. The financial system is worsening not improving. Try and wrap your head around that. >>
All indications are that the financial system is improving; otherwise, there would be bread lines and we would be in a depression. Precious metals are on the rise due primarily to instability in European countries and the unrest in the middle east. Yes food prices and oil are up and it's being driven by a falling dollar, but there is no hyperinflation, just hype.
P.S. Your "fact" is not a fact. >>
Hello? Where were you 2007 and 2008?
I agree with you though that there's no Hyperinflation, yet.
weakened, inflated, sure. Joined with other currencies as a "basket" for world reserves, maybe. takes more of them to buy a loaf of bread, a new dress shirt, or an ounce of metal, quite likely.
but you'll be earning more of them in your job than ever before, too, and paying off your mortgage with dollars that are easier to earn.
Those lamenting the bygone days of 15c hamburgers and 29c gasoline seem to forget that they only made two bucks an hour at a good job.
Liberty: Parent of Science & Industry
<< <i>im still kicking my rear end for not buying a boat load at $8 an ounce. who knew >>
You can go back to the main thread circa 2004-2005 to find out who knew. Surprisingly, there were quite a few.
percyb has it right. The problems have been papered over with about $10-$20 TRILLION worth. But how long can that go on?
The primary cause of the crash were otc derivatives....$1.14 QUAD worth of them. 85% of them are still out there and most interest rate related, marked to model/myth, so that they won't upset the apple cart for the time being. The day of reckoning has only been put off, not eliminated. Just think that the default of $30 TRILL in CDS and about $5-$10 TRILL in MBS derivatives caused the mess from 2007-2008. What happens when the Interest Rate swaps, which are about 10X that size decide to show themselves? Some claim (or hope) that they can be cancelled out amongst themselves. Ok, if that's the case, then why hasn't anything obviously so simple been done in that regards over the past 3 yrs?
Those lamenting the bygone days of 15c hamburgers and 29c gasoline seem to forget that they only made two bucks an hour at a good job.
Yup. They also had a financial system that wasn't broke, a realistic expectation of affordable health care and soc. security benefits, as well as looking forward to retiring at age 65. Those options are no longer available to J6P. The dollar's slide began in 1986 with a smaller secondary peak in 2001.
roadrunner
<< <i>All indications are that the financial system is improving; otherwise, there would be bread lines and we would be in a depression >>
The 'bread lines' were moved from the streets to supermarkets.
SNAP data as of 1/31/11
ANNUAL SUMMARY *
Year Persons Households
FY 2011 43,398,316 20,293,942
FY 2010 40,301,666 18,618,363
FY 2009 33,489,975 15,232,115
* The chart shows monthly data from 10/08 - 11/10. The number of persons and households have gone up EVERY month.
<< <i>Well, at least you guys can enjoy having this same conversation for the rest of your lives, while the dollar lives on and on and on...
weakened, inflated, sure. Joined with other currencies as a "basket" for world reserves, maybe. takes more of them to buy a loaf of bread, a new dress shirt, or an ounce of metal, quite likely.
but you'll be earning more of them in your job than ever before, too, and paying off your mortgage with dollars that are easier to earn.
Those lamenting the bygone days of 15c hamburgers and 29c gasoline seem to forget that they only made two bucks an hour at a good job. >>
That's fine for you to say but some of us are on fixed incomes and it will get harder and harder for us to compete with rising prices when our
incomes don't.
incomes don't.
... and THAT'S why you have Investments!
Liberty: Parent of Science & Industry
<< <i>That's fine for you to say but some of us are on fixed incomes and it will get harder and harder for us to compete with rising prices when our
incomes don't.
... and THAT'S why you have Investments!
Social Security isn't an investment?!
I knew it would happen.
<< <i>My family and i have chosen to belong to the latter group. Hey, if I'm entirely wrong, no big deal - so we've got a few extra monts of food on hand, some precious metals we can turn into cash, and a decent garden in the front yard. If I'm right, we have the necessary resources to endure the storm. >>
There is nothing wrong with this approach. Just as long as folks don't sell the boat to prepare for the flood.
The name is LEE!
<< <i>That's fine for you to say but some of us are on fixed incomes and it will get harder and harder for us to compete with rising prices when our
incomes don't.
... and THAT'S why you have Investments!
Some of us in our 70's did not have the money to invest in some of these great things that people have today. We invested in what we could
but these investments can and do not keep up with what is happening today. Your thoughts are very shortsighted.
<< <i>Those lamenting the bygone days of 15c hamburgers and 29c gasoline seem to forget that they only made two bucks an hour at a good job. >>
I often wondered why I didn't save $20 rolls of IKE Dollars and $10 rolls of Kennedy's back in the early 70's.
Then I remembered that I only grossed $130 a week!
With take home pay in the neighborhood of $105, a single roll of dollars would have been 1/5 of my spendable weekly income. Throw that up against a $175 a month rent payment and $40 a week grocery bill and things got pretty tight pretty quick.
I'm not saying folks shouldn't be prepared as much as I am saying that folks should be "paying" attention.
Whats that old saying about "hind-sight"?
Better yet, what would have been the better buy? $1,000 in Microsoft Stock or $1,000 in gold back in 1982?
The name is LEE!
<< <i>Moxie, if you keep talking like that, people will start looking at you nervously and whisper behind your back that you're a nut job. Welcome!
LOL. So true.
I guess I'd rather at attempt to encourage others to prepare for a possible catastrophy (even at the expense of sounding silly), than just pretend that all is wine and roses.
I may be wrong, I may be right, but no matter, I'll be prepared.
It'll costs me very little if I am wrong but prepared.
It'll cost me dearly if I am right and unprepared.
Anywho, thanks for the welcome. I just started seriously buying PMs three months ago. I know I'm a little late in the game, but still plan on investing more each month. I found this board to be a great resource. Glad I found it.
Same question, but in 2002? Different eras, different picks. Just let us know what the new "Microsoft" will be in 2012 so we can all jump onboard. Don't want to miss the boat twice.
It's probably a rare individual indeed that bought $1000 of Microsoft stock in 1982 and didn't dump it long before they would have gotten to $10,000....let alone $100,000 or $1,000,000. But all those that did buy some in the early to mid-80's can keep on dreaming of what could have been.
roadrunner
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<< <i>My family and i have chosen to belong to the latter group. Hey, if I'm entirely wrong, no big deal - so we've got a few extra monts of food on hand, some precious metals we can turn into cash, and a decent garden in the front yard. If I'm right, we have the necessary resources to endure the storm. >>
There is nothing wrong with this approach. Just as long as folks don't sell the boat to prepare for the flood. >>
Good point. But it doesn't have to cost a fortune and it doesn't have to be done all at once.
Get out of debt (primarily non-mortgage balances). My wife and I did this 5 years ago, and it probably saved our marriage.
Buy extra food that has a long-term shelf life. Also get extra toothpaste, shampoo, soap, etc. Work on getting a reserve of 3 to 6 months. Do it as you can afford it.
Buy PMs. We do it primarily as a way to preserve some resemblence of wealth (just incase). So again, do it in small amounts as you can afford it.
Purchase other items that can be used for any type of emergency - hand water filter, matches or lighter, first aid kit, etc. Always good to have stuff like this handy.
Obtain some means of protection. If you feel uncomfortable with firearms, heck, a slingshot will do.
If you have a little land, start a garden. Seeds are still cheap.
That's the approach my wife and I have taken. We look at it as insurance. With three kids, we felt that it was a good idea. Though it took a little convincing to get my wife on board for the PMs purchasing.
<< <i>im still kicking my rear end for not buying a boat load at $8 an ounce. who knew >>
Me too, but in 2015 I feel we'll be looking back to 2011 and how $33-34 was a bargain.
Silver- the new gold
copper- the new silver (based on poundage, not ounces)
Question for you guys. If melting copper cents is illegal does this prevent these cents from being worth anything more than one cent? I'm presenting this as as it appears the law prevents them from being anything more than face value money.
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<< <i>Moxie, if you keep talking like that, people will start looking at you nervously and whisper behind your back that you're a nut job. Welcome!
LOL. So true.
I guess I'd rather at attempt to encourage others to prepare for a possible catastrophy (even at the expense of sounding silly), than just pretend that all is wine and roses.
I may be wrong, I may be right, but no matter, I'll be prepared.
It'll costs me very little if I am wrong but prepared.
It'll cost me dearly if I am right and unprepared.
Anywho, thanks for the welcome. I just started seriously buying PMs three months ago. I know I'm a little late in the game, but still plan on investing more each month. I found this board to be a great resource. Glad I found it. >>
Welcome Moxie!
There are a number of very smart and practical people on this board.
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<< <i>im still kicking my rear end for not buying a boat load at $8 an ounce. who knew >>
Me too, but in 2015 I feel we'll be looking back to 2011 and how $33-34 was a bargain.
Silver- the new gold
copper- the new silver (based on poundage, not ounces)
Question for you guys. If melting copper cents is illegal does this prevent these cents from being worth anything more than one cent? I'm presenting this as as it appears the law prevents them from being anything more than face value money. >>
If or should I say when they change the nickel composition and get rid of the cent, the law will be lifted within a few years.
My Numismatics with Kenny eBay Store Over 6000 listings and growing with more than 39,000 items sold
My Numismatics with Kenny Twitter Page Instagram - numismatistkenny
My Numismatics with Kenny Blog Page Best viewed on a laptop or monitor.
ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
<< <i>
All indications are that the financial system is improving; otherwise, there would be bread lines and we would be in a depression. Precious metals are on the rise due primarily to instability in European countries and the unrest in the middle east. Yes food prices and oil are up and it's being driven by a falling dollar, but there is no hyperinflation, just hype >>
I usually let spin like this go but this is tasty and I can't resist. Forgive me.
1) All indications are that the financial system is improving? It's really hard to polish a turd * the financial system) but I'm game. How did you come to this conclusion? Why because the stock market is going up? Really, I mean really? How so? A patch is a patch is patch.
2) Precious metals on the rise because of instability in Europe and unrest in the middle east? You are killing me. So, isn't that why one owns PM's and for exactly that reason? One owns them for times of instability at home and abroad like what's happening in Northern Africa, right? Like what could happen in Wisconsin/Illinois or California in the future. Pick another state if one of these don't suit you. Several are boardering on BK. PM's have rallied nicely and there hasn't been a peep out of Europe in weeks. The euro is at $1.375 vs the dollar. Shouldn't it be like ........... a lot lower if what your spin were remotely true?
3) You are right about one thing----this is no hyperinflation............yet. Hyperinfaltion comes unannounced and often overnight and is a 100% a product of a currency event. It's caused only by a loss of confidence in a currency. The ingrediants are there I would hazard to guess.
4) Q----Why is the dollar falling?
edited as I typed this on a plane and I was rushed as we were landing. It was choppy. My reply, that the flight.
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Gecko's OP headline sounds like he just realized the dollar is toast. It's been toast for a decade plus and getting more burnt each year. Eventually we'll end up will ashes. Most of the "lunatics" on this forum saw this coming years ago.
We all know what to do but we are all in different stages in our life. So do what you can with every paycheck. "Keep on stackin'." That has many meanings...be it PM's, food, ammo, cash, seeds, knowledge, whatever. The best thing to do is to stay informed. Can you really prepare for Armaghedon? No. Can you prepare for a job loss or protracted recession, depression? Yes, and that's the goal.
The "quadrillion meltdown" is not something all of us can insulate ourselves from. That scenario will affect all of us, even rr.
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If or should I say when they change the nickel composition and get rid of the cent, the law will be lifted within a few years. >>
good point. I haven't been actively going after copper like going through rolls or anything. I've been just pulling coppers out of change I get. Wondered if it was worth the time. I figure at worst I would have some rolled change I could cash in.
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#1 1951 Bowman Los Angeles Rams Team Set
#2 1980 Topps Los Angeles Rams Team Set
#8 (and climbing) 1972 Topps Los Angeles Rams Team Set
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<< <i>
<< <i>Long on rhetoric, but short on facts, I'm not buying it. >>
Here's a fact. We had a collapse of the financial system in 2007-08 and nothing really has been done about it except that the Fed printed more $$ to fix the problem of cheap money. The Fed is throwing gasoline on the fire. The financial system is worsening not improving. Try and wrap your head around that. >>
All indications are that the financial system is improving; otherwise, there would be bread lines and we would be in a depression. Precious metals are on the rise due primarily to instability in European countries and the unrest in the middle east. Yes food prices and oil are up and it's being driven by a falling dollar, but there is no hyperinflation, just hype.
P.S. Your "fact" is not a fact. >>
There would be breadlines forming? Are you serious? There are more people on (and new applicants for) food stamps than ever before! So if the government sets up a soup kitchen for the poor, then THATS a sign of a bad economy.....yet if BILLIONS (2.7 billion spent on food stamps per year in Illinois alone) of dollars for food are mailed to millions of people who cannot afford food, then there is no problem and everything is cool? One word comes to mind Steve......"delusional".
dismiss the exploding demand for PMs and other commodities from China and India.
I could throw out all the financial pressures and acquire PMs and other commodity investments on that single factor alone.
Loves me some shiny!
Silver is the least expensive precious metal that the common man can acquire in some quantity.
Everyone knows this and is piling in. We all know about the supply and short positions. But's it's all coming down to the two facts I stated above.