The US Economy Is Collapsing!!!@@!!!

I think you're missing the point, yes initially food, water, booze, guns, ammo, medical supplies and hookers will be more useful than gold.

However, when the new currency is established buying it with gold could make you financially set.

I really don't care about ever being rich though, I'll just buy the initial necessities.

I was kind of surprised of all the Americans falling for the "distractions" and getting caught up with the timely mysterious deaths and other stuff going on

Then I remember Flouride and pop culture bull sheet

America has been laughing stock of the world, sadly American is spiteful and promises to go out in a BANG

The bigger they are, the harder...

Reality check is disgusting, if there's one doomed / failed country economy scheme that would try to take the world down with it, it is definitely the Elite bank owners of US indeed

Or those companies realize that the upward momentum of Gold is going to cool and reverse and are selling you gold now, to buy it up cheapo later. Remember, the gold price is fixed in London. If the right people decide they need to stock up on gold, its gonna crash like a rock.

Dangit, and here I was so sure that the U.S. economy was and "innie" by now. Guess there's a lot further to fall.Sigh....

Economics is more an art or a mind game than a science. And the vast majority of this art is convincing people that one thing or another is true and hoping you get the expected/projected/desired results from that.

Dont tell anyone but silver will outperform gold, I am just hoping it falls more so I can buy low.

Ya gold is good, but you cant eat it, and no one is going to give a crap about gold, when they are starving, the best monetary value, will be food, and water, followed by the value of a person, such as what they can make, and do. Then when things start to settle a little bit, then maybe Gold will be worth something

A glass of water in the desert is worth more than a gold mine, but how do you buy that water; with gold surely the catch-22

If the dollar crashed and became worthless it would be replaced with a new currency. Without the fear of a currency collapse, gold would lose it's percieved value and those holding gold will take deep losses on the conversion. I think companies that sell you food and the such will still be around and they will also be valued in the new currency. Stocks and real estate are the place you want to be in an currency upheaval. You won't come out whole but you will do better than any other asset class with a great likelyhood of recouping your losses quickly. . Loaning people money through bonds, cd's, etc will likely be the worst way to protect yourself.

A gold standard would be the only thing to save gold investors, but i find it very unlikely. In order to fix the price of gold domestically you would also have to fix that price internationally. So the only way it would happen is if there was a one world currency. A one world currency will not be backed by gold because there will be no need for it to be. The currency will simply be worth whatever the dictators running the world say it is worth.

if your buying anything..don't you want it in hand? A certificate for a car doesn't drive you to work!!!
Why would a certificate for gold be any different?
If I buy it, I own it, I have possession of it.

In a SHTF senerio, you could bring me gold, silver or any other metal, that you think is worth something..but I don't want it for trade...its worthless for trade to me..
Example...if you have a Babe Ruth rookie card signed by him...they say its worth thousands..really, to who? Not to me...so it will really come down to having something that people will trade for, be it food, seeds, water, fuel, parts, tools, ammo, weapons or whatever...
My best advise to everyone is, go get what you use, need and want now, before it isn't there or is unattainable for you.
Gold could be $2000 an ounce, but when it drops...you lose money..I know that its the currancy that goes up and down...gold stays the same...whatever..1,000,000 now won't be 1,000,000 then...plus those that have the items needed set the value of said items.

Plus with gold, and silver..lets say you have a million dollars of it right now..ok
When a new currancy comes out..do you think it will be dollar for dollar...so to speak...Yeah right..look at the depression with money in banks...you get a % of it, so a million dollars in gold, might only be 200k in the new currancy...thats a 80% loss!!! Really thats a deal for you? if so send me 80% of your pay now and avoid the rush!!!

My point being, buy what you use and need now..in items that you can physically hold and have in your possession now.

Originally posted by LongbottomLeaf
Anyone with half a brain invests in weapons, booze and food

I thought the hot investment trend for 2012 was supposed to be in lawyers, guns and money?

Oddly enough i have little gold, but have been fortunate enough to have accrued about three lbs of silver coins
these are dimes quarters, dollars and even a couple of 5centers....(from Newfoundland)
Other than this stash of coinage, which i keep adding to sporadically as my budget permits and the price is right....i believe Gold is too hard to spend in bars, and even coins would have to be smaller than the 1 oz ones to be practical.....
Obviously coinage will be the means of exchange after any such fall from grace as the preppers envision....once we get halfway organised.....
The immediate aftermath will be every man for himself and devil take the hindmost im thinkin......
Goods for survival, will be fought over, more than once, till consumed.....
Lets face it, the facts are that even the most prepared individual may get whacked just getting to the hideaway....
The war or whatever is going down, earthquake, 2012, CME, Nibiru,global iceage/warming,,,revolution, martial law, terrorist attack,hurricane,asteroid impact,or pandemic, may strike at any moment.
One could be wearing his tin foil helmet, or maybe bareheaded when, the aliens beam down the commands into peoples heads....
Its a CRAP SHOOT people.....! Get over it!.....
Lifes a crap shoot, being rich is a crap shoot,its all arbitrary!
Justice is the flip of a coin.....Your life can be turned into a living hell, or you may win the lotto in the next big one....There is absolutely NO rhyme ot reason to it......
Do what you can, save what you can....duck when they throw the bucket, and if you cant duck, be sure you are holding the bucket.....Good luck all.....But dont take it all too seriously, we have absolutely NO control at all.....!
peace out ....s

I thought id better come back to add,
I can make knives,I know where to find natural Saltpetre(you wont like it...)i can make soaps or other fronteer nessessities....
I know how to make all kinds of useful things out of what is to hand....for what is needed....
I have some boy scout skills, some medical skills, and have read the poor mans james bond till i can make propellant out of otherthan gunpowder,creat plastique explosives by kitchen method, likewise with napalm....
I have honed my Mc Guiverness and my own hand skills on all kinds of mechanical and other projects.
I have a portable presence on this planet, and a light footprint.
I have a lifetime of bush and mechanical as well as related skills as emergency first aid and other knowledge of esoteric subjects.
If you dont whack me first, ill be of good use to anyone trying to rebuild....
Survival is essentially a matter of chance for those most affected by the initial upheaval....
Any soldier will tell you that the plan only is cohesive at jumpoff, and it goes to hell rapidly from there....
Its what you make of it as it unfolds that counts....that and chance......

There are more bonds than physical gold.

And do you people honestly think that physical gold will be worth anything in the event of a collapse?

Gold is a scam.

The way I see it, if you have reasonaably sizeable assets, let's say 1 million in dollars between cash, stocks, bonds, 401k, IRA etc. (Which despite what many on here will say is not unreasonable in the US, there are many "millionaires". No they don't look "rich" and they live frugel, but with pensions, retirement plans, savings, there are many Americans especially in their upper 40's and above that fall into this catagory). Then Gold might be a reasonable asset. Why? Because IF there is a dollar collapse your assets based on the dollar lose much of their value. When it comes time to trade in to the replacement or stablized currency, then you might get 1 replacement credit of the new currency for every 100, or 1,000, or even 10,000 or more dollars.

But lets say you have 50 ounces of gold, maybe cash out some of your investments to buy it . At today's prices that's about 80k. After a collapse, gold may rise in dollar amount, but no one may be trading gold for dollars. IF you have gold, you can trade it for a large number of the new currency, and thus protect your wealth. If you do not have gold and are trying to trade your savings, your pensions, your 401k for the new currency, you will get very little in equivelenat purchasing power...effectively wiping you out. As far as goods and services there will be little of that trading in gold. Gold is primarily a means of protecting your current wealth. Be it a million dollars or a couple of thousand, having a small or moderate percentage could potentially save some of that wealth, but only to be cashed in for the new currency.

Now, I am sure there are many on the board with more economics education then me, so let me know if I am wrong here.

reply to post by Drunkenparrot


I guess I could eat a lawyer...

Originally posted by LongbottomLeaf
Anyone with half a brain invests in weapons, booze and food

Sounds like good things for surviving inside a prison.

Food for thought for the other half.

reply to post by ErgoTheConfusion


Perfect things to survive in a crazy lawless land. Kind of like that game Fallout or that movie Road Warrior.

reply to post by -Blackout-


Don't worry too much about the American "Eeeek on, oh my" ... economy. It's just make believe b.s. and fear mongering, and nothing we can do much about, legally....

"Keep it simple stupid", aka a "k.i.s.s." on Valentine's Day:

FACT: There is not enough currency in circulation, (not enough money in the world), for each and every American to pay off their fair share of the debt.

FACT: It is illegal for me to print or make my own currency/money.... it would be counterfeiting.

FACT: It is illegal for me to do anything about the source of the problem concerning the economy.




Debt is not money. Debt is the lack of money.

eeek on, oh my...

reply to post by -Blackout-


Some don't believe what they are selling. But many are TRADING gold to paper and back to gold with the idea of ACCUMULATING gold. And others are accumulating paper using the same vehicle.

This is how markets are stabilized. Buyers and sellers. What is the trend telling you though?

reply to post by LongbottomLeaf

If that is what is what you seek... then as you wish.

reply to post by rwfresh

Thank you for writing that. I kept failing to keep it simple and thus deleted my responses.

Originally posted by rwfresh
reply to post by -Blackout-

 

Some don't believe what they are selling. But many are TRADING gold to paper and back to gold with the idea of ACCUMULATING gold. And others are accumulating paper using the same vehicle.

This is how markets are stabilized. Buyers and sellers. What is the trend telling you though?

Gold peaked at 1900 per ounce in Sept 2011...last debt increase debate...It's around 1700 now, given the upward movement across the economy I don't see it returning to 1900 per ounce.