ECON FUNG RED ALERT: DOW AND NAS PLUNGE - Friday 2/28 - DOW Hits -1,000 In Early Morning Trading

Dozdoats

On TB every waking moment
Because you won't know the dollar won't be accepted, until it's not.

Precisely. And replacing your mattress stuffing with FRN$ will not prove helpful at that point, either.

There needs to be a happy medium discovered between actual money in hand for long term savings, and currency for day to day transactions at present. Why is that so difficult to grasp for so many people?
 

Hfcomms

EN66iq
As much as we all realize Trump has done everything and then some to be one of the best Presidents ever, there are very strong forces leveled against him and taking down the world economy is not beyond them if they need to prevent Trump from being President once again.

Heck, those damnable globalist hate him so much that if it takes a global pandemic costing a million lives or more in the U.S. and an economic collapse as a result to get rid of Trump that is a price they would be willing to pay as long as they aren’t part of the dead.
 

Rabbit

Has No Life - Lives on TB
You're absolutely right.

Some of these nutcases with their "bring it on" mentality just want it all to go to hell so they can say "I told you so."

They think they would be fine living in a world of shit just to be "right." Idiots.
Either that or they think it will be a great equalizer.
 

20Gauge

TB Fanatic
Heck, those damnable globalist hate him so much that if it takes a global pandemic costing a million lives or more in the U.S. and an economic collapse as a result to get rid of Trump that is a price they would be willing to pay as long as they aren’t part of the dead.
Yep that is my opinion....
 

20Gauge

TB Fanatic
This is what I'm afraid of, however I also think about two other points.

1) God is more powerful than "they" are, and God is who I believe is behind President Trump and his ability to roll through all the sh*t thrown at him.
2) If "they" try to take down the world economy, God can just as easily pull a miracle and their plans and works just might come back and bite them in the a**.
I do hope and expect Trump will outwit them.... especially Biden who apparently is still running for the Senate..... and not President this week...
 
Because you won't know the dollar won't be accepted, until it's not.

Precisely. And replacing your mattress stuffing with FRN$ will not prove helpful at that point, either.

There needs to be a happy medium discovered between actual money in hand for long term savings, and currency for day to day transactions at present. Why is that so difficult to grasp for so many people?
Short answer - basic human desire for auto-pilot mode, versus having to pay sustained attention while navigating problematic financial waters.


intothegoodnight
 
Heck, those damnable globalist hate him so much that if it takes a global pandemic costing a million lives or more in the U.S. and an economic collapse as a result to get rid of Trump that is a price they would be willing to pay as long as they aren’t part of the dead.
If your theory is correct, then per the bolded section lies a key critical understanding for "the rest of us."


intothegoodnight
 

CaryC

Has No Life - Lives on TB
I bought some at $1518 and thought it was foolish... Now I am wondering if we should have bought more.

At what point will you buy again?

When you think you might need to, and have the finances available.

IMHO and take it for what it's worth. You buy gold and silver to maintain wealth, not increase it, like the stock market.

'Course it's cool when you bought at 340.00 and not it's 1600+. I would not trade it like stock.

Doc1 does some selling on the side, and seems to know his stuff, you might ask him. He does sell some from time to time to bump his retirement, but that's what he bought it for.

Follow your gut. Gold has never been worth zero.
 

CaryC

Has No Life - Lives on TB
FYI Dow -823 (been bouncing above and below -800)

If it stays there -800 and counting yesterday -1100 = -1900 we're approaching correction zone. Roughly -2700.

That by itself can be sort of a normal thing. It's what happens AFTER it hits -2700 that will be important. If it goes that far down.

I don't think the announcement by P&G helped the market any, but thanks for the heads up.
 

SouthernBreeze

Has No Life - Lives on TB
We bought gold and silver years ago to have as a nice nest egg. That isn't our main concern right now. It's trying to survive the Wu Flu. What is gold and silver worth if you are dead? Like KFhunter said, there are more immediate and useful things to buy and worry about than gold or silver at the moment.
 

NCGirl

Veteran Member
When you think you might need to, and have the finances available.

IMHO and take it for what it's worth. You buy gold and silver to maintain wealth, not increase it, like the stock market.

'Course it's cool when you bought at 340.00 and not it's 1600+. I would not trade it like stock.

Doc1 does some selling on the side, and seems to know his stuff, you might ask him. He does sell some from time to time to bump his retirement, but that's what he bought it for.

Follow your gut. Gold has never been worth zero.


We actually got mostly out of stocks last week. I could put more towards it I suppose... I just hate to buy so high! - I may wish later I had put a lot more in. Wish I had a crystal ball I could fire up
 

NCGirl

Veteran Member
We bought gold and silver years ago to have as a nice nest egg. That isn't our main concern right now. It's trying to survive the Wu Flu. What is gold and silver worth if you are dead? Like KFhunter said, there are more immediate and useful things to buy and worry about than gold or silver at the moment.

I'm well prepared with stuff. I just want to know how to keep our money as valuable as possible. I am so grateful we sold most of our stock last week when it was where it was (grateful now, that might change with circumstances!) I just don't know where to sit that money now. Will they try to print their way out of this? If so I don't want to leave it as cash. And yes, if dead it doesn't matter anyway. I hope not to be dead....
 

Dennis Olson

Chief Curmudgeon
_______________
Here’s the deal on PMs:

If you buy them as investments, you’ll never be happy with how they perform. The point in preppers buying gold is in “wealth preservation.” You’re buying PMs as an insurance policy in the event of global financial collapse. Remember that such a collapse will usher in TEOTWAWKI. That being said, do you have enough other preps to see you through the initial global supply chain disruptions and panicked hordes of looters?

Something I read on the old Mrs. Survival forum pre-rollover:

Food, water, shelter, medical, and defense. Those are NEEDS. Everything else is a WANT.

With that as your guide, do you want to buy more shiny pieces of metal?
 

CaryC

Has No Life - Lives on TB
I'm well prepared with stuff. I just want to know how to keep our money as valuable as possible. I am so grateful we sold most of our stock last week when it was where it was (grateful now, that might change with circumstances!) I just don't know where to sit that money now. Will they try to print their way out of this? If so I don't want to leave it as cash. And yes, if dead it doesn't matter anyway. I hope not to be dead....

For the time being I (note "I") would just keep it in cash for the time being. Let the markets and virus fears pass, or reality if it comes to that.

I would spread it around though: some in the bank, some in the mattress, some in the wallet. This way a disaster in one area, banks closing, robbers, fire, etc. won't deplete your entire reserve of cash savings.

Then when things calm down take a look around and check some stuff out. Investments in like 401k's, gold 401k's, annuities, CD's, etc.

Knowing that there won't be a quick turn around to cash, and if early withdrawals, penalties may ensue.
 

SouthernBreeze

Has No Life - Lives on TB
I'm well prepared with stuff. I just want to know how to keep our money as valuable as possible. I am so grateful we sold most of our stock last week when it was where it was (grateful now, that might change with circumstances!) I just don't know where to sit that money now. Will they try to print their way out of this? If so I don't want to leave it as cash. And yes, if dead it doesn't matter anyway. I hope not to be dead....

I totally understand. We got out of the stock market back in 2008. Instead of sitting on all the cash, we made the decision to pay off our home and property, buy new cars, stock up on MHouse long term food storage, and yes, buy gold and silver. We feel that these choices were better investments than having stocks. Still, today, we don't have any regrets.
 

hiwall

Has No Life - Lives on TB
I bought some at $1518 and thought it was foolish... Now I am wondering if we should have bought more.

At what point will you buy again?
I think in about 10 minutes.
I have been wondering what to do with some of our money. It loses value every single day due to inflation. Just today I got a letter from Blue Cross to tell me my health insurance is going up another 10% next month(which is about the average inflation rate). I am not making 10% on any of my money so it is losing value all the time. At least with any PMs there is a chance of it not losing value while the US dollar is guaranteed to lose value every day.
 

NCGirl

Veteran Member
I think in about 10 minutes.
I have been wondering what to do with some of our money. It loses value every single day due to inflation. Just today I got a letter from Blue Cross to tell me my health insurance is going up another 10% next month(which is about the average inflation rate). I am not making 10% on any of my money so it is losing value all the time. At least with any PMs there is a chance of it not losing value while the US dollar is guaranteed to lose value every day.

This is my fear. Inflation. We have house and cars and all that stuff paid off so need to put money towards something until I think getting back into the market is a good idea. Perhaps getting some more shiny stuff is a good idea for the long term too. Or having cash available to snap up good buys in the coming months is smart. My granddad used to say the best time to make money is when things are headed down. I just don't have the stomach for it.
 

hiwall

Has No Life - Lives on TB
Most of my life I never had much money. Now I have some money but realize it is losing value all the time. I did buy a little bit silver just now to make myself feel better.
 

West

Senior
Everyone should have at least 10% of their net worth in PM coin, aka bullion coin.

Then stick it away, and try to just forget about it.

If not for insurance or retirement or what ever, do it to screw the fiat banksters. Because once you have real coin or real money in your hands, you effectively become a real banker. And taking real money off the market that the fiat bankers cant manipulate.

Just do it.

Years ago, about 10 years ago, I asked my banker for a signature loan. He said he needed collateral. I told him that I only have gold. He said fine, give me the gold and I'll loan you half of what its worth and charge interest. I of course just sold half of my gold at spot.

Bankers hate gold, heh heh right....

If just a 100 million people had 10 ounces of gold and 100 ounces of silver, we could collectively become vary powerfull.
 

Dennis Olson

Chief Curmudgeon
_______________
If just a 100 million people had 10 ounces of gold and 100 ounces of silver,
There’s not that much mined PMs in the world. That’d be a BILLION ounces of gold and 10 BILLION ounces of silver.

Math was never your strong suit, evidently.
 

The Snack Artist

Membership Revoked
In Jesus' day a gold coin (about an ounce) would buy you a tunic, sandals, and belt. Now, it buys a nice suit. PMs are just a hedge on inflation. Can you protect your net worth against inflation using these? I don't think you can.
 

marsofold

Veteran Member
Bible, weapons, ammo, water purification means, food, shelter, shortwave radio, medicine, winter clothes, seeds, tools, maps, PMs, cash. In that order of necessity. All of the other stuff is fluff.
 

shane

Has No Life - Lives on TB
In Jesus' day a gold coin (about an ounce) would buy you a tunic, sandals, and belt. Now, it buys a nice suit. PMs are just a hedge on inflation. Can you protect your net worth against inflation using these? I don't think you can.
Dollar has lost about 16% buying power over last 20 years.
My gold is up 4X's and my silver is up 3X's since then, too.
YMMV

Panic Early, Beat the Rush!

- Shane
 

West

Senior
In Jesus' day a gold coin (about an ounce) would buy you a tunic, sandals, and belt. Now, it buys a nice suit. PMs are just a hedge on inflation. Can you protect your net worth against inflation using these? I don't think you can.

Only because of private banksters and crony capitalist. With a controlled big government (by said banksters) keeping the slaves ignorant and faithful of the fiat or all powerful fed res banksters. Don't pay your income(IOUs digits) taxes with some of the IOUs and see prison or worse.

People today just don't realize how bad their getting ripped off of their labors. That's why employers are mandated to collect the lions share from the employees. And it works! Most employees hate their employers for all the taxes held from their pay. Then think the government is working for them when they get their so called income tax returns.

It's such a stupid hussle, but it works for huge beaucracies and crony capitalist. Millions and millions of people bank from the labores of the working poor.
 
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Lone_Hawk

Resident Spook
I pretty much lost everything 4 years ago, I sold off most of my firearms and my PMs to cover the mortgage etc., ya' know, food, electricity, water, etc.. I have been expecting a major attack on the economy to hammer President Trump going into the 2020 election. This happening starting yesterday was actually earlier than I expected it to happen. We are in the position that we are in. Those of you that have other resources are better off. Good luck to us all!
 

Samuel Adams

Has No Life - Lives on TB
I think in about 10 minutes.
I have been wondering what to do with some of our money. It loses value every single day due to inflation. Just today I got a letter from Blue Cross to tell me my health insurance is going up another 10% next month(which is about the average inflation rate). I am not making 10% on any of my money so it is losing value all the time. At least with any PMs there is a chance of it not losing value while the US dollar is guaranteed to lose value every day.

As per the current situation, I see retailers—beginning with the largest and working it’s way down—refusing cash and coin.
I look for a CDC announcement putting cash in a very bad light in
3.....2.....1......
 

West

Senior
As per the current situation, I see retailers—beginning with the largest and working it’s way down—refusing cash and coin.
I look for a CDC announcement putting cash in a very bad light in
3.....2.....1......

That would really suck for everyone. Even people who don't normally cary cash.

At first the credit card systems may find new business, but not for long. Many people who think they have secure jobs will be laid off. Then it will be like a avalanche of unemployment.
 

Samuel Adams

Has No Life - Lives on TB
“They” have been chomping at the bit too long.

This virus is a golden opportunity handed to the Biblically referenced merchants of the earth, on a silver platter.

I don’t see much returning to “normal”.
 

Dozdoats

On TB every waking moment
At what point will you buy again?

At present I have no plans to buy again unless I rake in another windfall on the PM stocks and need to park some value in PMs. Even so, if I buy gold it will most likely be fractional ounce American Eagles, because a full ounce simply concentrates too much value. I think silver is a better bet long term but it sure bulks up more than gold.

I quit buying gold at $900 whenever it was that it hit that price. I had tracked Paul van Eeden for a long time, and he sold out at $700. I pushed a bit further than he was willing to go and took off on my own hook. When we bought this place in the mountains in 2011 I sold what bullion gold I had bought at $300 to $900 for $1700 to $1900 to pay for the house and 15 acres. I'm keeping my pre-1933 US gold as long as possible though.

Prices go up in FRN$. Prices go down in FRN$. PMs are just ONE way to move value through time and across distance. Not the ONLY way, not a MAGIC way. Just ONE way.

DO YOUR OWN DUE DILIGENCE BEFORE YOU PUT YOUR ACCUMULATED VALUE ANYWHERE! Pay no attention to me, I am no expert. There is no substitute for building your own knowledge base and doing your own research.
 
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