A Hunch I Have For if/when the Dollar Collapses

This is working under the assumption that the dollar will collapse and a one world currency ushered in. (Highly speculative, I'm aware).

I had a thought that cash will be worthless unless it is deposited in a bank.

In other words, cash on deposit will be converted over to the new currency by some factor. Paper money will have no value.

People will be forced to deposit all cash on hand in order to have it converted to new currency, or forfeit any value. This will allow the government to get a better handle on each individual's holdings.

Originally posted by notquitesure
This is working under the assumption that the dollar will collapse and a one world currency ushered in. (Highly speculative, I'm aware).

I had a thought that cash will be worthless unless it is deposited in a bank.

In other words, cash on deposit will be converted over to the new currency by some factor. Paper money will have no value.

People will be forced to deposit all cash on hand in order to have it converted to new currency, or forfeit any value. This will allow the government to get a better handle on each individual's holdings.

yes you have that right, devalued and converted.

but your assests in hand, gold, silver,ect will hold there value

Originally posted by notquitesure
This is working under the assumption that the dollar will collapse and a one world currency ushered in. (Highly speculative, I'm aware).

I had a thought that cash will be worthless unless it is deposited in a bank.

In other words, cash on deposit will be converted over to the new currency by some factor. Paper money will have no value.

People will be forced to deposit all cash on hand in order to have it converted to new currency, or forfeit any value. This will allow the government to get a better handle on each individual's holdings.

look for it!

What kind of gold/silver should someone buy? And how much should a person invest with? What if all you have laying around to invest is only $1000? Can that even buy gold or silver these days??

reply to post by notquitesure


It definitely sounds like something they would pull.
But I'm not sure they would go ahead with it just yet. There are parts of the country that just don't have the infrastructure in place.

Then again, they have proven that their greed knows no bounds. So..sure. Why not.

reply to post by Under Water


I have been buying an ounce of physical silver every payday for about two years now got in around $26/oz saw it as high as $35/oz still very worth it over 2 yrs saved up quite a bit. So silver yes but I think gold is between $1400-1700/oz so you would be hard pressed but silver is still a good buy and semi cheap depending on how you look at it

SaneThinking

reply to post by Under Water


$1000 can buy you plenty of silver right now, especially since the price is being kept artificially low. However, the current spot price of $28.80 per ounce will not last. Gold as of the typing of this reply is at $1606.00 per ounce.

SIlver is the poor person's precious metal, and it is still very cheap.

Keep up with the prices here: www.monex.com...

Make sure you have extra food and water first, and then deal with buying metals.

As for the dollar collapsing, it is entirely possible. The OP makes the assumption that the dollar collapse will automatically mean that a new currency will be put into place right away. I don't see it happening that way.

I see us waking up one day and learning that our money is worth a hell of a lot less than it was the day before, because that's how they do things. Usually on a Sunday, so that Monday comes with a nasty shock...but the banks are closed, and you can't do anything except know that your money suddenly buys a whole lot less.

Perhaps after a while of this, Americans might acquiesce to giving up the old greenback and accepting a new form of currency.

I wrote this story a while ago. This is how I see it going down, more or less: www.abovetopsecret.com...

Originally posted by Under Water
What kind of gold/silver should someone buy? And how much should a person invest with? What if all you have laying around to invest is only $1000? Can that even buy gold or silver these days??

LOL you cannot buy an ounce of gold for that much! Gold prices are around 1 1/2 more at around $1600. Silver is always more modest and lower but still at the high end of what it typically is.

Buying Gold right now is folly or just plain stupid.

Originally posted by FissionSurplus
reply to post by Under Water

 

$1000 can buy you plenty of silver right now, especially since the price is being kept artificially low. However, the current spot price of $28.80 per ounce will not last. Gold as of the typing of this reply is at $1606.00 per ounce.

SIlver is the poor person's precious metal, and it is still very cheap.

Keep up with the prices here: www.monex.com...

Make sure you have extra food and water first, and then deal with buying metals.

As for the dollar collapsing, it is entirely possible. The OP makes the assumption that the dollar collapse will automatically mean that a new currency will be put into place right away. I don't see it happening that way.

I see us waking up one day and learning that our money is worth a hell of a lot less than it was the day before, because that's how they do things. Usually on a Sunday, so that Monday comes with a nasty shock...but the banks are closed, and you can't do anything except know that your money suddenly buys a whole lot less.

Perhaps after a while of this, Americans might acquiesce to giving up the old greenback and accepting a new form of currency.

I wrote this story a while ago. This is how I see it going down, more or less: www.abovetopsecret.com...

I'm not assuming that a dollar collapse would lead immediately to a new currency.

More likely would be a collapse causing a great deal of economic pain, followed some time thereafter by a government "solution" of a new currency.

Deposit your worthless dollars in a bank and receive credit for this new currency. Maybe even more than an accounting of assets, the government would get a list of the people who had been hoarding cash, at least those desperate enough to convert.

May provide the government with targets to hassle. We have seen a movement toward being treated like criminals for holding cash for a while now. I see this as another possible move in that direction.

Originally posted by Under Water
What kind of gold/silver should someone buy? And how much should a person invest with? What if all you have laying around to invest is only $1000? Can that even buy gold or silver these days??

I dont know what country your in but for me, i buy pre 1965 90% silver US coins. amazing how two pre 65 dimes can still get you a gal of gas. at $2.10 each.

Originally posted by Under Water
What kind of gold/silver should someone buy? And how much should a person invest with? What if all you have laying around to invest is only $1000? Can that even buy gold or silver these days??

silver is about 34ish bucks an ounce. i avoid buying the american eagles as they have high added premiums. but there are tons more brands of 1ouncers to buy.

gold you can get at like 60 bucks a gram bullion-coin.
or maybe $120 a 1/20th ounce bullion-coins?
(guessing as prices change daily)

all considered, unless you have a million dollars to move, there is no reason not to buy small units of gold and silver. easier to resell/barter as little as you need as well.

If you notice gold/silver prices have been going down and probably will keep going down as more people buy it not up...

Dont waste your money on gold/silver or paper money that has no real value.. When you are starving and can't eat your gold/silver and no on will trade you their food for it because they have no use for it either you will wish that you invested in usable hard good like long term storage foods, a garden, plants, seeds, guns/ammo to hunt, bows/crossbows/arrows to hunt/barter.

Depending on your living situation you should try to grow anything you can that you can eat its not that hard even if you live in a smaller place you can do hydroponics. I dont have much room and I have a nice garden that I have recently started and I am putting money into that.

Buy things that if TSHTF people will actually need and i promise you that gold/silver wont be it.

I also have chickens now as well as I am starting to breed super worms and nightcrawlers that are big from africa I ordered on ebay to feed them to go along with their organic feed to cut down cost as well as if I cant get them feed they could live off the worms.

I am growing some great seeds I got off ebay and some plants I got locally from lowes and home depot that are actually organic and not bad prices for good quality plants that are doing very well.

You should stock up on arrows and bolts for crossbow/bow and arrow tips, they don't take up much space but are worth allot to someone for hunting if TSHTF. Invest in good knives, animals traps, manual equipment that could replace electric things. Check out the craigslist free section there is always good stuff in there go get things that are useful.. Buy compound and long bows on craigslist for $50-100 for some good ones all the time depending on where you live. If things go down the toilet even a crappy bow will be worth much more then some gold and they will need arrows to go with it.

gold and silver is what will transfer wealth from this economy to the next.

these preppers overthink things and think the government will fall and we will be living mad max style for another 50 years.
hard times will come and be gone within a few months. (regarding no food, gas, water)
stocking to much is wasteful.

depending what conspiracies you are into. bankers running the world, or just the US government exploiting us all.
they know when this is happening, and they are well prepared. this includes the renewal of an ecomony.

there is no point is trying to hold power over people if they do not want to let you have it. there will be a short time of shortages of products, and possibly the revolution causing all hell. but they would not let us go without food and water and gas for very long. their greed and wealth depends on it.

things would not be so "3rd world, every man for himself" awful in the US as most hardcore preppers assume, even during a dollar crash.
yeah stock up on 6 months of drinking water and some simple dry food. but you really dont need more then that.
the government can only win if people are appeased. they will manage to do so.

palladium and platinum aint bad either. China has a deregulated catalytic converter policy that is slowly coming around....last year they had a record number of pollution clouds sweep across all parts of china randomly and public outcry is putting pressure on those commie ba$tards. Palladium is key to catalytic converters and if china starts putting in orders, watch out for a nice price bump.

Originally posted by FissionSurplus
Make sure you have extra food and water first, and then deal with buying metals.

I say this is a mistake. FEMA-recommended amount of food and water, meaning to last you through a short emergency? Yeah, sure, of course. But what most people are implying with this statement is that you should have a garage full of food and water and supplies before you ever buy a junk silver coin.

If my dollars become worthless tomorrow, I can find food and water in myriad ways, from growing it to stealing it. What I *can't* grow or *easily* steal, however, are antibiotics, antivirals, emergency medications, and the host of other life-or-death things that might have to be obtained on the black market during a crash of epic proportions. They won't want your granny's necklace, they will want cold hard coins, silver or gold, something they can identify without a gemologist. That's your pre-1965 junk silver.

Buy it, store it, forget about it until the day comes. Worst case, you have a small investment that grows over the years. THEN work on your food and water.