There is an economic catastrophe building

Bud

New, and yet, old
Brass Subscriber
#1
Congress is busy writing a huge spending bill, rumored to be at least one trillion dollars, the Fed is busy printing dollars and feeding them into the economy and the market is headed for the cellar.

I am trying to figure out what to do. I have been slowly building up cash here at the Fortress of Insolvency in not so sunny lately southwest Missouri but now I am wondering if the cash I have will be worth anything. Should I convert my savings account from 1s and 0s into actual dollar bills or should I convert it into something tangible like silver or gold or firearms or ?????

I think the economics of the pandemic is going to come to a head pretty quickly
 

WhiteWolf

Wolf Mage
Silver Subscriber
#2
Some of all of the above, Bud.
I really don't think we'll be able to pay our real estate taxes in gold/silver... but it might come to that. Cash on hand is recommended because initially, people won't be using for toilet paper. Its what people recognize as "money". After that - junk silver (90%) and silver eagles. Tools, ammo, building supplies - that whole category is "essential" for an economic collapse. Got a portable sawmill?
 

HandLoad

Twinkle Me, LORD
Brass Subscriber
#3
Yeah...small businesses will keep wanting cash, even as it slopes towards lesser purchasing power.

Here ay the L'il Shack inna Woods, we have circa $20K for "opportunity purchases" in early part of the crisis. Then generous amounts of Gold and Silver (sadly, bought at a premium, at well over the present per Ounce prices), then Booze for trading, then Ammo for either trading, or acquiring goods.

We have a Home Equity Line of Credit that we negotiated well before this time, that extends out to $350K, linked to Cards, so long as the bank permits its use...

Good as I can be prepared, in that area...
 

The Branch Manager

Winter is coming. Forever.
#8
I really think it's over. As hard as I'm pushing save the local economy, in the back of my mind I 'know' it's a fruitless endeavor. Can't say I've seen the future, but I do have a crystal ball.

We all know if you can't hold it right now, you don't own it. Those digits on a screen aren't yours, you've surrendered your work output frn's to the bank for the convenience of electronic banking and instant transfers. I haven't totally drained my accounts, but I'm planning on drawing that money down monthly on my payments. I've got enough until September without anything coming in. It's gonna suck, but it's all gonna suck.

As far as s&g coinage, I'd imagine all parties present that could have bought them did buy them. I don't see any compelling reason to go buy now unless you truly have a very large pile of electronic fiat you want to get off of. 500+ silver eagle's, 10 gold eagle's, 10 gold halves, and a couple bags of pre 64 quarters and dimes will get a family anywhere in the world and still be portable. If I were buying today, I'd skip the gold. GSR is right around 100 to 1, silver is a real bargain right now IF you can find physical.

On to the sawmill. Want to spend a little money (under 10k down to about 3k) I'd go with a Hudson full manual like I bought. Mine is the 330 pro, 13k with three bigger engine and 24' of track. If you want to spend around 30+, the woodmizer trailer units are the cats meow. Less setup, easier to move around. I'm building a permanent setup, so I doubt need the fancy trailer.

Take none of my financial advice seriously. I don't believe half of what I say. Also, all personal pronouns used in this writing are used in the general sense and not specific to anyone here.
 
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Josh

We could edit this?!
#10
I’m personally rather happy I burned up all my savings building the house and getting the land. I tend to agree with Branch that if you don’t hold it you don’t own it. I feel a lot more comfortable having actual tangibles that I can shoot someone over if they try to running off with it.

With the government throwing trillions of dollars at everything right now I don’t see the USD surviving this crisis. The stories of Weimar Republic come to mind.
 

WhiteWolf

Wolf Mage
Silver Subscriber
#11
This is the one SHTF that keeps me up at nights. BUT, I've been dirt poor before - and the kid has lived pretty hand to mouth most of her adult life too. She was almost 40 when she finally got a checking account; everything was cash up till then.

She's currently working on plans for world domination, too Goblin. Lots of good foundational skills to refine by doing. ;)
 

Mel's Cookin'

Word based person lost in a video world!
Moderator
Brass Subscriber
#16
Gojo manufacturers that produces Purell needs to find or develop an American source for the one key ingredient, whatever it is, so they aren't getting it from China. Tariffs will help us return the balance of products made in the U.S. instead of China. I'm all for them. I'm disgusted Apple got a waiver for their products, but I've had a hate on against Apple for a long time now.

If all these companies get a tariff waiver, there will be no financial incentive to develop American suppliers of the products they need, and we'll have learned exactly nothing from all this. :(
 

Grevlin

"Fly birdies!...fly!"
Administrator
#17
Gojo manufacturers that produces Purell needs to find or develop an American source for the one key ingredient, whatever it is, so they aren't getting it from China. Tariffs will help us return the balance of products made in the U.S. instead of China. I'm all for them. I'm disgusted Apple got a waiver for their products, but I've had a hate on against Apple for a long time now.

If all these companies get a tariff waiver, there will be no financial incentive to develop American suppliers of the products they need, and we'll have learned exactly nothing from all this. :(
The only thing saving Apple is their YUGE cash stash. They have a ridiculous amount of cash. Which means ridiculous cash-flow potential. So they can survive 1 maybe 2 major short-term incidents. But they are going to fold. And it will be a nuclear blast when they do.
 

Sentinel one

Man is a bad animal...
#18
My money is on Amazon friggin' owning pretty much everything when the dust settles.
Everything will be online, so you have to go to 5G and get all new gear and all cash
will be useless... black markets and barter will flourish. Europe, Germany and Japan
in particular survived after WW2 due to black markets and barter.
I was talking to a good friend yesterday, and his Mom and Dad escaped Hungary
in the late 50s. Anyone who has lived through or escaped a dictatorship has the
skillset to survive this.
 

HandLoad

Twinkle Me, LORD
Brass Subscriber
#19
Yep. Invest in Amazon, with their cashierless store tech.

Invest in Banks that support "Take a Pic" check depositing.

Invest in Robotic Hamburger/Taco/Felafel/whatever joints.

Invest in Doorstep Delivery Locker vendors.

Invest in Video Doctoring/Health Consultations

Surgical/Dental Robots

Greenbacks are DONE. "CREDITS" will rule.

It is a RADICALLY Different Future We face.
 

HandLoad

Twinkle Me, LORD
Brass Subscriber
#20
Divest Yourself of most Commercial Buildings (exception Warehouses and Factories)

Invest in UV Sterilizing Robots.

Invest in New Design Dwellings (esp. Apartments) that are amenable to Sterilization - sealed surfaces, floor drains? No-touch Door/drawer/appliance openers.
 
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