Prepare

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13 years 11 months ago #6409 by n6hook
Prepare was created by n6hook
If we let the euro fail, it will result in terrible short-term consequences. So the Fed will crank up the presses yet again. Quantitative easing 3 will be another $1 trillion effort, this time focused on buying European sovereign debt. The Fed must become the lender of last resort not only for the U.S., but for the world. That's the last step before its eventual collapse. After that point, people will no longer flee to Treasurys when a crisis erupts. They will flee to gold.

What should you do about this? It's pretty simple. First, you should use the correction in silver and gold to stock up on physical bullion. Make sure you've got a year's living expenses (at least) in gold and silver bullion. Store a portion of it overseas.

If you can, buy some real estate overseas. Look into getting a resident's permit or, even better, a foreign passport. If leaving isn't an option for you, then use this year to build some safeguards for yourself here. It could be buying a local farm... or maybe just planting a garden... or digging a well... or installing a big propane tank. Store a bit of food. Stockpile medicines. Buy a gun. Get some ammunition. Imagine what it would be like for you if the dollar wouldn't buy anything. Imagine what would happen if the 43 million Americans on food stamps couldn't eat. Plan your affairs accordingly.

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13 years 11 months ago #6413 by foxhunter
Replied by foxhunter on topic Re:Prepare
Ok, I have to jump in here. Of course we should be prepared for disaster. I live on a farm. I am a physician . I am well armed, and I can live off the land, hunting , fishing, trapping and gardening. I have in storage Heirloom seeds, an emergency water purification system, food stored, medication stockpiled, some gold and silver. toilet paper. soap.
I have a generator that will run off the pto of a tractor and I keep my diesel storage tanks full.tools, chainsaws. A network of family, neighbors and friends that can pull together and help each other survive.
All of this is necessary for even short term disasters. 3 yr ago my area went without power and most roads were blocked for a week after an inland hurricane hit. I live on the New Madrid fault and in tornado alley, so any number of natural disasters could happen and we should be prepared. Being prepared and good neighbors helped me through the inland hurricane with little discomfort. We don't expect any government to save us. We expect to take care of ourselves and our family and friends
The likelihood of a total collapse of government due to our fiscal irresponsibility seems unlikely.It more likely could be a potential downhill spiral where we endure years of high unemployment, high food and energy prices and high crime. Prepare for these. save, illiminate debt.
I personally don't invest in overseas real estate because if we go down, so does the world. Farm land is always a good investment, but if you are not there to keep an eye on it, the locals will fish out your ponds, kill all your deer and other game and generally treat it as theirs.A hundred acres of good farmland in Illinois can run anywhere from $400,000 to $700,000 and if you lease it out to a farmer your after tax return will be below 3%. And good luck finding it.In a disaster, short or long term, gold and silver are no more important than having needed goods and services that you can barter and trade for.
Oh, and if you live in a city? bend over and kiss it goodbye, because when you are out of food and water in less than a week and you do invade the countryside looking for food, the country people will be well armed and prepared, so better try your powers of persuasion and reason with them, not your gun.
Maybe if you do live in a city, you should have a disaster plan with your neighbors/friends that will get you through a few weeks of no power and no services. Then be ready to band together and help each other out.

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13 years 11 months ago #6417 by crux
Replied by crux on topic Re:Prepare
Yea I don't see "Silver and Gold" as a priority investment right now. Certainly you want to beware of holding dollars if the value of the currency declines, but more important to consider are some of the following:

Do you have any debts with interest rates that might increase under any circumstances? You should get out from under such debt as a top priority. Ideally it's smart to stay clear of debt, but long term fixed rate debt can actually be cheaper to pay back with deflated dollars. Variable rate can put a strangle hold on you.

Do you have the tools and supplies you need? Gold and Silver produce no wealth of there own, only provide a slightly more stable value than paper dollars. Capital equipment that can be used productively is generally worth more. Ever wanted to set up a wood shop or machine shop? Spending the same money on those vs gold/silver will give you the ability to produce goods, or repair / maintain /build your own, thus saving you costs of an inflated economy. Gold and Silver just sit in a box begging to be stolen.

What about land and home? Do you have a place to live that isn't dependent on the value of the dollar? Even more importantly do you have rooms you can rent out? Is your home security up to snuff? These things can actually provide you a living and save you significant costs in a heavy downturn.

Are there skills you could acquire to assure continued employment? Especially in a downturn? Three skills that are always needed, even in a downturn are security, education, and medicine. Money spent improving capabilities in these areas can be a more sure hedge against economic collapse than stores of gold and silver.

So those are just some thoughts to put into perspective what else might be important to consider besides metals you can't eat, drink, build things with or sleep under, and require security to keep.

If any of you have ever read Ferfal's blog, he has a lot of experience with economic collapse, and some very sound advice.
ferfal.blogspot.com/

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