So when the dollar goes to shit...
MichaelMcKevin
Posts: 1,161
how will I be paying off my student loans?
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"Well, you tell him that I don't talk to suckas."
It is for this reason that in a collapse of the dollar, it wouldn't be bad to be holding onto several things of value in place of just Federal Reserve Notes, even if these things are being paid off with some low interest fixed rate loan. Look at it on a small scale: This is an example and I'm just making up amounts here, but if you bought an ounce of gold 10 years ago for 200 dollars, and on that same day signed a 10 year lease on a car that cost $100 / month, you would pay $12,000 for the car over 10 years. That same ounce of gold when measured in dollars is worth about $1,000 today, so if you traded it in for dollars, you could make a large payment of $1,000 (10 months of payments) on that car while it cost you only two months worth of payments to buy the gold.
In a true crash / hyper-inflation scenario, people will be happy to part with the paper in favor of something with intrinsic value-- you may be able to pay off your house with a few pounds of silver to at least rid yourself of your debt.
However if this goes down, it will probably be complete pandamonium, and I don't know if your house will be threatened most by banks, government, or looters.
The moral of the story, keep at least part of your assests in something tangible, yet still kind of liquid to help preserve wealth.
I like silver... It's so much more affordable and has far more industrial use than gold. I think it might even be worth more, or if not more highly demanded in a crash scenario. After all, more people will be trading around silver coins pre-1964 (when all the silver was taken out), as means of barter, any quantity of gold, will be so "valuable" (in terms of dollars anyway), it will be too hard to use it for trading (would you trade your car for a loaf of bread?), and because its so expensive right now, people are stocking up on the "next best thing," that being silver.
I wouldn't rule out old copper pennies (or copper, in general) being of value as well. Copper is already recognized as valuable among everyone-- try working construction and not seeing copper, in any condition being lifted off a job site. You can't argue its usefulness.
If anything ever disrupts our currency, precious metals will still hold their value.
Everyone one should have a 72 hr pack to survive. Some people even have INCH (I'm never coming home) packs with plans to get out of major cities. I don't believe for a second the amount of chaos that would ensue can be imagined should we ever get attacked with a nuclear device. It is wise to be prepared and not count on anyone, especially the government, to help your family.
New Orleans was a drop in the bucket compared to what could happen. Be prepared.
"..That's One Happy Fuckin Ghost.."
“..That came up on the Pillow Case...This is for the Greek, With Our Apologies.....”
yeah i agree with the silver and copper statements. i know people around here are breaking into people's homes and schools and stealing the copper piping for heating and cooling systems....bastards...that's just hateful
"Well, you tell him that I don't talk to suckas."
If you're having problems with a government loan it is fairly easy to get a forbearance for 3 or 6 months. They are fairly lenient right now with that sort of thing because most of the time people will turn things around and it costs less to wait for the money then it does to collect it through an attorney.
The dollar is being kept afloat mostly because oil is traded in dollars (hence the term, petrodollars), plus even though our debt is being held mostly by the Chinese, Japanese and other foreign countries, like any creditor they have vested interests in keeping our currency strong - China in particular has capitalized on the strong dollar to keep the value of their goods low and exports easy, while limiting the amount of imports (plus they impose as much as 20% tariffs on goods from the US entering China).
As far as Crybaby Beck shilling for gold, it's probably important to point outthat even his corporate overlords at Fixed News are concerned over his manipulation of fear over the dollar to boost sales of gold... kinda like promoting false WMD scares over Iraq to justify no bid contracts to a company you own stock in.
Nothing is forever, and I don't know if this was mis-reported by the Post, but I haven't heard much about it since:
http://www.nypost.com/p/news/business/d ... D6530791C5
Hail Hail HIPPIEMOM
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Other great items to have:
dental floss (multiple uses)
ammo (.22 for hunting small game)
matches
aspirin/advil/painkillers
first aid supplies
The list goes on and on. A great website I've used in the past for preparedness is zombiehunters.org. Don't let the name fool you, they know their stuff. Plus they have a lot of cool threads and posts about living off the grid in general and not creating waste while using the most out of your available resources.
don't forget to put braaaaaaaaaaaaains on your list!
mmmm yummy.
LOL that site kicks ass.
Still, doesn't hurt to keep a 12 gauge handy... you never know when the zombies might actually attack.
pay in pennies. they hate that.
*NYC 9/28/96 *NYC 9/29/96 *NJ 9/8/98 (front row "may i play drums with you")
*MSG 9/10/98 (backstage) *MSG 9/11/98 (backstage)
*Jones Beach 8/23/00 *Jones Beach 8/24/00 *Jones Beach 8/25/00
*Mansfield 8/29/00 *Mansfield 8/30/00 *Nassau 4/30/03 *Nissan VA 7/1/03
*Borgata 10/1/05 *Camden 5/27/06 *Camden 5/28/06 *DC 5/30/06
*VA Beach 6/17/08 *DC 6/22/08 *MSG 6/24/08 (backstage) *MSG 6/25/08
*EV DC 8/17/08 *EV Baltimore 6/15/09 *Philly 10/31/09
*Bristow VA 5/13/10 *MSG 5/20/10 *MSG 5/21/10
Dual khukris wielded by Milla Jovovich helps too. I wonder if I can talk her into moving in, you know just in case.