Great Depression in 2008

[hilly7]

Originally Posted by djf863000

If depression or not, what can a normal citizen do during that crisis?

Simple, get out of debt, and form alliances with neighbors. We are all talented, but in different ways. The no man is an island entire upon himself is going to make a lot of sense soon. Stay where you know the ropes and have formed friendships. Stop charging anything, stop borrowing. Unless it is needed for life threatning, don't buy it unless you can pay cash. Keep some spare cash onhand, at .02 cents per $1.00, it ain't much, but better than nothing.

Gold is fine, provided that you already have money now. After the cycle ends, it may be worth something. In the beginning however, you can't eat it, wear it, use it for protection, or keep warm with it. It will be worth just whatever use it will attributed to by the masses.

IMHO, I don't think the crisis is here just yet, but it is coming, we're just getting a sampling of what we will call good times eventually. Nope, it's not unAmerican to actually think, nor plan, nor want to not over consume, it's called normal everywhere but here, and that use to be called normal here. American was great when we sacrificed and lived within our means.

Those who think that those of us that actually are still capable of thinking needs a doctor, stay asleep and be like the frog in the ever heating pan of water. Turn off the Amusement Box (TV), and Muse.

Here are a few graphs
Wed, July 4, 2007 Show (Bear Stearns & Bad Mortgage Implications) (http://www.matrixeconomy.com/index.php?option=com_content&task=view&id=48&Itemi d=68 - broken link)
and
The Story of Stuff with Annie Leonard
and

History of the Federal Reserve (Money Masters)

[hilly7]

Originally Posted by ViewFromThePeak

Whatever is scarce will retain its value. If too much fiat currency is printed, you can't have a Tony Robbins moment and sing kumbaya to the dollar.

Gold in Zimbabwe is worth millions of Zimbabwe dollars per ounce. That should be telling.

The gold prices are directly in relation to what the owners assume. That would be great if it was distributed equally, but it's not. The bulk of the gold is in Central Banks, ie: he who holds the gold makes the rules.

[ViewFromThePeak]

Originally Posted by hilly7

The gold prices are directly in relation to what the owners assume. That would be great if it was distributed equally, but it's not. The bulk of the gold is in Central Banks, ie: he who holds the gold makes the rules.

Actually, central banks do not hold the amount of gold people think they do, and their share has been dwindling. They are able to manipulate the prices somewhat with their dumping of gold onto the marketplace, but that just means it has more to rise when they buy it back.

Half of gold in central banks gone?
Central Banks and Gold: Manipulation or Money Management? - Seeking Alpha

These central banks are going to be required to purchase back gold at some point when their Treasuries of IOU nothings become near-worthless. When that happens, it's going to drive prices up through the roof.