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On coming Economic Collapse

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On coming Economic Collapse Empty On coming Economic Collapse

Post  halfempty on Tue Jul 15, 2008 7:10 am

This is so scary. A lot of top profile experts say it is inevitable.

I have read that countless products that we buy will be unavailable.

How will we get our supplements?

My father has a lot of money. I don't think that he understands how serious this is.

What are you guys doing to protect your money?

I have heard that transferring half of your money into the Euro is a good idea...what do you guys think?

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Post  Misirlou on Tue Jul 15, 2008 7:16 am

The e-commerce will continue, but perhaps we will need to find other sources outside US.

Gold. Invest in gold. A bit too late but..

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Post  nidhogge on Tue Jul 15, 2008 7:25 am

No, not gold. Silver.

Have your dad go to the local dealer, and pay entirely in cash. Do not have him give his real name out if requested. You don't want the government able to trace that he has silver or any precious metal for that matter. Buy "junk" silver too. Junk silver is pre-1964 coins...they are 90% silver content. You will be able to use these to buy basic goods. The Depression we will be experiencing will be at least as bad as that found in Germany in the 1920s/30s--an inflationary depression. What we already experienced was a deflationary depression. Inflationary depression will see us using dollars to heat fires. Gold and silver are already shooting up in price, and banks are falling one after another. This is a Domino Depression--one bank falls, then another, then a few more, then a few more...and eventually the whole deck of chips collapses.

Do not invest in the stock market, do not invest in companies, don't bother investing in the Euro neither. Just hard, precious metals that have value everywhere and that you can hold in the palm of your hand.

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Post  halfempty on Tue Jul 15, 2008 7:43 am

Nid, are you at all worried about getting supplements and stuff for you hair?

I know this is a measly thing in the big picture of the situation, but still.

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Post  nidhogge on Tue Jul 15, 2008 7:49 am

I'm worried, but not nearly as much as I am about some of the other stuff going on. Just taking things day by day bro.

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Post  nidhogge on Tue Jul 15, 2008 7:52 am


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Post  halfempty on Tue Jul 15, 2008 8:06 am

Yeah, i was reading something similar to that before.

I feel like a should get a gun.

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Post  Misirlou on Tue Jul 15, 2008 8:22 am

nidhogge,

why not gold? Due to recent increased streetprices? Ehum, guess why Smile

The family next door were originally from Germany. They've told me hard facts about that crisis and let me tell you,
if the upcoming depression gets half as bad, not all silver in the world will help.

The good part is, who would care about hair loss? rabbit

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Post  zerx on Tue Jul 15, 2008 8:24 am

Misirlou wrote:

The good part is, who would care about hair loss? rabbit
That cracked me up Very Happy

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Post  nidhogge on Tue Jul 15, 2008 8:43 am

Misirlou--

Gold and Silver are both precious metals. Gold only goes up in price as currency crashes--it's supply and demand is static. There is something like a consistent 4000-ton demand for gold per year, and a 2500-ton supply. Silver, on the other hand, is grossly undervalued and the demand FAR outweighs the supply, and is drastically increasing. What would you rather invest in--Gold that is almost 1k an ounce that will increase to 3500/oz, or silver that is about 20/oz that will increase to 100/oz (and even farther as time progresses)? I think I'd rather multiply my investment by 5x rather than 3.5x.

I own gold too, a few 1 oz. bullions and about ten 1/10 ouncers. Maybe even a couple halves in there. However, if you want to survive in a depression, you think you're going to pay for groceries and services with a piece of gold that costs thousands of dollars? You want to get worthless paper money change back? No.

Junk silver, ie, a pre-1964 dime that will be valued at 30 bucks in a crash or more will be perfect for transactions.

I highly recommend getting a gun--at least one of them. And, LOTS of ammunition (which is also raising in price as I write this).

Look at the percentage-increase in silver since 2001 compared to gold. Both charts are steep hills, however, silver has done a lot better for itself in terms of as an investment. The fact that silver is used for more than just preservation of wealth makes it more valuable than gold.

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Post  nidhogge on Tue Jul 15, 2008 8:44 am

And, recent "increases in street prices" have affected every precious metal from Palladium to Platinum to Silver and Gold. It's inflation that's affecting those, but Silver also is getting shorted due to high demand for the metal for other purposes on TOP of inflation. THIS is why it's the best investment because unlike any other precious metal, it's valuable for more than just monetary payments.

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Post  Misirlou on Tue Jul 15, 2008 8:49 am

nid, I think we both are wrong.

The best metal to invest in is weapons geek
Then you would get a very lucrative product that could easily be used in order to obtain both silver and gold.


Wouldn't it be possible to trade gold vs silver from abroad? I mean, silver is everywhere.

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Post  nidhogge on Tue Jul 15, 2008 8:55 am

LOL that made me laugh Mis.

Silver is actually hoarded by central bank cartels. When you see silver enter the market, it's them selling it off to the public to cover their debts from their ineptitude as horrible bankers (sub-prime mortgage crisis).

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Post  EIC on Tue Jul 15, 2008 9:15 am

Don't you guys think you're being a little dramatic? We've had tough economic times in the past and come out just fine. I hope that all this talk of getting guns and gold/silver is mostly tongue in cheek. Frankly, I think this sort of hysteria actually fuels the problem. Economics are often a self-fulfilling prophecy.

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Post  halfempty on Tue Jul 15, 2008 9:24 am

Based on what I have been reading...stuff from respected experts...no, we are not over-reacting.. I wish we were.

I do agree that the fear is definitely a contributor to the downfall of the economy. I think that when that bank closed recently, it was because of a run on the bank, people taking out all of their money out of fear.

I am learning as much about this as I can right now, so that I can protect my family.

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Post  albe on Tue Jul 15, 2008 9:33 am

I think you guys are completely overreacting.

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Post  nidhogge on Tue Jul 15, 2008 9:51 am

EIC--

No, I am not overreacting. I wish I was. Go watch the "Money Masters" documentary to give yourself a good starting point. That's the entrance to hell. It only gets hotter from there on out. Thank God for Ron Paul's campaign is all that I have to say...it woke up millions that can now wake up millions more, bit by bit.

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Post  CausticSymmetry on Tue Jul 15, 2008 9:54 am

Just my 2 cents. Due to fiat currency, ala Federal Reserve who prints money out of thin air are shrinking our purchasing power.

Gold & Silver have been rising steadily since '99 and interestingly with the increases seen in both the Swiss Franc & the Euro.

Buying Swiss Annuities (a safe haven from the IRS) if you're looking to transfer your money into Swiss investments without accountability to the IRS. This is the only loop hole left, an insurance policy is exempt from IRS reporting, moreover, it's a shield against devaluation.

Or, purchasing silver on the dips in spot market. Gold tested the 1000 level once, it will probably do this two more times until it rallies beyond it. Silver will be more profitable.

Or there's just be wise with money, investments, etc. Usefully a bull market, boom will last twice as long a bust period. Some of the best opportunities exist in a depression.

One thing is sure, the rich aren't worried, because they're making money from investments and it compounding. They are making money before the currency is being devalued. Simply beating the real inflation rate will keep you ahead of the curve.
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