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if we end up with a situation where paper currency becomes worthless i just cannot get my head around stocking up on precious metals all they will do is weigh you down,trading with currency as we know it will be disastrous....i would think owning land and becoming sustainable with your own produce will be the only working system,you can trade food and water with others for what you need...food will become so valuable that no amount of gold or silver would suffice....personally i would trade food for clothing but not food for gold or silver
JP Morgan - long suspected of manipulating the Gold & Silver markets are getting out of commodities and they sold their NY Headquarter to China which reportedly has a gold vault the size of a football field and a tunnel to the NY Federal Reserve.
So anyway - this what i think is going on they are shifting everything from the West to the East - if JP Morgan sells their NY Headquarters to China...do you think?
Anyway - the Chinese believe in a hard currency backed by Gold not like the US which believes in a fiat currency backed by the full faith and credit of the US...errh by nothing. So I think the price setting of Gold & Silver wlll be set in the East not in the West in the not to distant future. The Chinese Government is if not imploring their citizens to buy physical Gold & Silver they are highly recommending it!
I mean once this shift from West to East goes on Gold will go from $1200 an ounce to $12,000...cause they have to back their currency with Gold so they will jack up the price without Western Bank interference.
To me it says - if your investment is in paper it's not worth the paper it's printed on...do you really think if the Chicoms break the dollar they are going honor some piece of paper you have?
JP Morgan selling to the Chinese should give pause to more than a few - don't you think?
JPMorgan sells New York building to Chinese firm for $725 million
JP Morgan Is In Talks To Sell Its Commodities Business Read more: www.businessinsider.com...
Whistleblower Exposes JP Morgan's Silver Manipulation Scheme
originally posted by: Slickinfinity
reply to post by BABYBULL24
You make a good point, good quality booze will be worth having to barter with. I wouldn't stock up on beer but that's just me.
I also assume medicinal products would increase greatly in value to, especially painkillers and antibiotics.
originally posted by: Visitor2012
If the economy goes, paying your mortgage will be the very LEAST of your problems. I'll take the chicken and the case of tomatoes....