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I do but it's not in any bank or credit union. One question to ask, and understand the full meaning of, is will todays currency be worth anything in an economic collapse??
Just look at what's happening in Europe now with the Euro.
This is my feeling on the situation as well. That paper dollar is only worth something because we all agree it is at this point. It's not backed by anything other than the "good word" of our government. It has no literal value at all. As for gold and silver, I'd doubt that would be worth much in a real bad situation either, but at least it has *some* intrinsic value.
So as I said earlier, I'm really, really squeamish about just hording cash (US currency), especially if it's in a bank--that's even worse. And, I'm somewhat squeamish about silver/gold. But I'm not at all squeamish about foodstuff, tools, supplies, etc. In a SHTF situation, at least in my opinion, even a stack of firewood in the back yard is going to have more worth than a stack of paper that happens to say $100 on it. Don't get me wrong, I'm fine with having a stack of $100 bills NOW that I can use to purchase something of worth, but I don't trust that stack in the long run at all.
This is my feeling on the situation as well. That paper dollar is only worth something because we all agree it is at this point. It's not backed by anything other than the "good word" of our government. It has no literal value at all. As for gold and silver, I'd doubt that would be worth much in a real bad situation either, but at least it has *some* intrinsic value.
So as I said earlier, I'm really, really squeamish about just hording cash (US currency), especially if it's in a bank--that's even worse. And, I'm somewhat squeamish about silver/gold. But I'm not at all squeamish about foodstuff, tools, supplies, etc. In a SHTF situation, at least in my opinion, even a stack of firewood in the back yard is going to have more worth than a stack of paper that happens to say $100 on it. Don't get me wrong, I'm fine with having a stack of $100 bills NOW that I can use to purchase something of worth, but I don't trust that stack in the long run at all.
The only time that gold lost value in recent years was for a few days during the evacuation of Saigon in 1975 when people could only take the lightest things on planes. So they wanted cash, precious stones, etc. Other than that single event, gold responds to market forces. In a really bad situation gold would rise to extraodinary levels in terms of the fiat currency which is what people will still be using. We have plenty examples to support that and none supporting the contrary.
The only time that gold lost value in recent years was for a few days during the evacuation of Saigon in 1975 when people could only take the lightest things on planes. So they wanted cash, precious stones, etc. Other than that single event, gold responds to market forces. In a really bad situation gold would rise to extraodinary levels in terms of the fiat currency which is what people will still be using. We have plenty examples to support that and none supporting the contrary.
Oh, I agree. I am slightly squeamish about gold, but I trust the value of gold and silver infinitely more than I trust the dollar's continued long-term worth. It would certainly be nice to have a crystal ball that showed the exact date of the end of the dollar. It's more likely to be a slow death, I suppose. But I do believe that it's coming sometime down the road.
Oh, I agree. I am slightly squeamish about gold, but I trust the value of gold and silver infinitely more than I trust the dollar's continued long-term worth. It would certainly be nice to have a crystal ball that showed the exact date of the end of the dollar. It's more likely to be a slow death, I suppose. But I do believe that it's coming sometime down the road.
It's dying that slow death now. Moderator cut: off-topic
Last edited by MissingAll4Seasons; 07-16-2012 at 01:31 PM..
Reason: Personal partisan political views are off-topic in this thread
How do you do your economic forecasting without political considerations, o wise one?
Any discussion of the economy will have to include politics IN GENERAL. However, the current POTUS contest has nothing to do with the POTUS race or how one feels about any candidate in particular. I, and many others here, don't give a fig for personal feeling about this candidate or that candidate. Discuss THAT in politics!!
I would have to disagree that the current race does not have an effect on prepping as the candidates have very different views on economics at a most basic level without exporing other issues, so that could have a definite impact on the strength of the dollar on world markets and on metals prices if nothing else.
One of the things noted repeatedly in this thread is prepping for the possiblity of being out of work, that would also be a consideration of the current race.
I am not going to dive into arguments about this candidate over that candidate, but in an election year where much is on the line, it is a factor in prepping as who wins could definately have an impact on an indvidual person's welfare through job insecurity, loss of value of investments, difficulty in obtaining medical care and a host of other factors that Preppers take into account.
The ability to have stores of food, work the land, sell agricultural products, buy weapons or amunition, what law enforcement/environmental laws will be and what limitations are placed on people hunting, fishing or gathering wild edibles or wood for heating, access to wilderness/forest service/federal lands can be impacted as well.
Politics can and do radically impact individuals and their ability to provide for themselves at all levels from the local county commishoner all the way up to president.
Politics and over-reaching goverment is one reason many people even start considering prepping.
It is a factor that cannot be realistically discounted.
I would have to disagree that the current race does not have an effect on prepping as the candidates have very different views on economics at a most basic level without exporing other issues, so that could have a definite impact on the strength of the dollar on world markets and on metals prices if nothing else.
One of the things noted repeatedly in this thread is prepping for the possiblity of being out of work, that would also be a consideration of the current race.
I am not going to dive into arguments about this candidate over that candidate, but in an election year where much is on the line, it is a factor in prepping as who wins could definately have an impact on an indvidual person's welfare through job insecurity, loss of value of investments, difficulty in obtaining medical care and a host of other factors that Preppers take into account.
The ability to have stores of food, work the land, sell agricultural products, buy weapons or amunition, what law enforcement/environmental laws will be and what limitations are placed on people hunting, fishing or gathering wild edibles or wood for heating, access to wilderness/forest service/federal lands can be impacted as well.
Politics can and do radically impact individuals and their ability to provide for themselves at all levels from the local county commishoner all the way up to president.
Politics and over-reaching goverment is one reason many people even start considering prepping.
It is a factor that cannot be realistically discounted.
Moderator cut: off-topic
From a personal standpoint I'm interested in how the election will affect real estate prices in my area. I had expected and hoped for riots but so far the phenomenon of rising expectations hasn't arisen as it did in the Sixties.
Last edited by MissingAll4Seasons; 07-16-2012 at 01:35 PM..
Reason: Specific politics are off-topic to this thread
ARE WE TALKING ABOUT SAVINGS FOR PREPARDNESS OR FINANCES & POLITICS?
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