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Old 01-04-2012, 10:46 AM   #91
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If and when a bank holiday happens, simply having cash at the house instead of the bank will do nothing. When the banks reopen your dollar will be devalued by 40%. The only way to protect your assets is to convert them into goods that you can use or barter.

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Old 01-04-2012, 05:11 PM   #92
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very interesting read on what he predicts sounds like it could happen

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Old 01-04-2012, 08:32 PM   #93
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A little cash on hand could be a lifesaver for short term emergencies if the banks, electricity, etc. are down. I certainly wouldn't hide large amounts in my mattress, though- if the house burns down, you will be lucky to find much of anything and you certainly won't find any cash. (Trust me, I have been there, and I'm glad I didn't have much cash in the house.) Downsouth has a good point, too...if there is hyperinflation, it won't matter as much where your money is because it will not be worth much. In my opinion, you can't put your trust in money anyway. In a true SHTF situation, food; water purification; shelter; guns; and ammo will be much more desirable than paper or even precious metals. And even those could be lost, ruined, or taken away in a moment. Being as prepared as you reasonably can is important, and skills, knowledge, innovation, relationships with others, and adaptation will be valuable assets as well.

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Old 01-04-2012, 09:37 PM   #94
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Quote:
Originally Posted by shadamai View Post
A little cash on hand could be a lifesaver for short term emergencies if the banks, electricity, etc. are down. I certainly wouldn't hide large amounts in my mattress, though- if the house burns down, you will be lucky to find much of anything and you certainly won't find any cash. (Trust me, I have been there, and I'm glad I didn't have much cash in the house.) Downsouth has a good point, too...if there is hyperinflation, it won't matter as much where your money is because it will not be worth much. In my opinion, you can't put your trust in money anyway. In a true SHTF situation, food; water purification; shelter; guns; and ammo will be much more desirable than paper or even precious metals. And even those could be lost, ruined, or taken away in a moment. Being as prepared as you reasonably can is important, and skills, knowledge, innovation, relationships with others, and adaptation will be valuable assets as well.
I agree that having $500 to $1000 cash on hand all the time is a good idea in case of a local catastrophe. But for a major national financial crash, the cash is only paper. It would be worthless. Just like the Euro will be worthless soon as well.
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Old 01-04-2012, 09:42 PM   #95
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Originally Posted by shadamai View Post
A little cash on hand could be a lifesaver for short term emergencies if the banks, electricity, etc. are down. I certainly wouldn't hide large amounts in my mattress, though- if the house burns down, you will be lucky to find much of anything and you certainly won't find any cash. (Trust me, I have been there, and I'm glad I didn't have much cash in the house.) Downsouth has a good point, too...if there is hyperinflation, it won't matter as much where your money is because it will not be worth much. In my opinion, you can't put your trust in money anyway. In a true SHTF situation, food; water purification; shelter; guns; and ammo will be much more desirable than paper or even precious metals. And even those could be lost, ruined, or taken away in a moment. Being as prepared as you reasonably can is important, and skills, knowledge, innovation, relationships with others, and adaptation will be valuable assets as well.
While I agree with everything you say here, and has been said in this post, you all should be aware that for some time things will retain their value as the economy crumbles (if in deed it does). People have been conditioned to see things, including money as a legitimate means of barter (which could actually be the case...RIGHT NOW), that money will hold value to a degree... think about it, right now money isn't backed by anything, it's technically worth less than the paper it isn't printed on. Most rational people know this, most rational people also know that right now, factoring in inflation, and the uncertainty of the economy, guns, ammo, food, land, and precious metals will have a grater degree of value, unless the economy rebounds 180 and we have amazing growth. Instead, those rational people are holding onto their money...they're conditioned to save, right now a worthless item is retaining it's value, as will other useless items.
Consider the financial situation worsening, you could probably trade useless items such as a Rolex, for useful items (for example a rifle and ammo). Many people will trade because in their mind, they're getting a $10,000 item for $1,000.
At least initially, psychology will play a far greater deal than most think, and it has in most societal collapses.
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Old 01-04-2012, 10:11 PM   #96
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Well I don't have a rolex, hav'nt wanted one and won't be trading for one in a shtf scenerio. My thinking is 22 shells for trade bait. Can't be reloaded like other calibers.
Coffee, cigs, alcohol could bring a premium at the right time. Can openers would be a handy thing to have some of. Gold standard may be non-hybrid garden seeds.

I think people will quickly detach detach themselves from a currentcy that is so devalued to the point wheelbarrels carry it instead of wallets

http://www.joelscoins.com/exhibger2.htm

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Old 01-04-2012, 10:37 PM   #97
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Here is my prediction for two years from now:

Romney will be the President, the congress will not have changed a damn bit. (Still a bunch of idiots) We will have picked some other third world country to exercise our troops and support our defense industry. The economy will have gotten a bit better, the rich a little richer and the poor a little poorer and the middle class still anxious as hell. The banks will have forclosed another million homes. Gasoline will hit $5.00 per gallon for the first time. We will spend more time watching football than the news, and we will all be here discussing some gloom and doom that is just around the corner, and talking about 1911s VS Glocks.

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Old 01-05-2012, 01:43 AM   #98
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Here is my prediction for two years from now:

Romney will be the President, the congress will not have changed a damn bit. (Still a bunch of idiots) We will have picked some other third world country to exercise our troops and support our defense industry. The economy will have gotten a bit better, the rich a little richer and the poor a little poorer and the middle class still anxious as hell. The banks will have forclosed another million homes. Gasoline will hit $5.00 per gallon for the first time. We will spend more time watching football than the news, and we will all be here discussing some gloom and doom that is just around the corner, and talking about 1911s VS Glocks.
I agree with all the above, except that I bet Pres O will be president again. That's prediction #1.

The next most likely war will be with Iran, but it will be an air and sea war without any boots on the ground. So the Army will not be involved, but the Navy and Air Force will be. That's prediction #2.

On everything else I completely agree with Chainfire above.

With gasoline pushing $5 per gallon again, it is possible that I might even buy a motorcycle again, too. I have not had one in awhile. But with 70 mgp they are starting to look really good again.

And on the 1911A1 vs Glock debate, I am firmly in the 1911A1 camp. I wore an A1 for 4 years, so you could say it and I are "joined at the hip."

But anyone who wants a Glock, that's fine with me.

The point is that no one knows when the big armageddon will happen, although it is unlikely but possible it could be soon.
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Old 01-05-2012, 01:47 AM   #99
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Quote:
Originally Posted by Shoobee

I agree with all the above, except that I bet Pres O will be president again. That's prediction #1.

The next most likely war will be with Iran, but it will be an air and sea war without any boots on the ground. So the Army will not be involved, but the Navy and Air Force will be. That's prediction #2.

On everything else I completely agree with Chainfire above.

And on the 1911A1 vs Glock debate, I am firmly in the 1911A1 camp. I wore an A1 for 4 years, so you could say it and I are "joined at the hip."

But anyone who wants a Glock, that's fine with me.
God I hope not 1911 is king and I promise you if we go to war with Iran we will have boots on the ground. And I'll be there. Im actually hoping for it.
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Old 01-05-2012, 01:49 AM   #100
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Quote:
Originally Posted by downsouth View Post
Well I don't have a rolex, hav'nt wanted one and won't be trading for one in a shtf scenerio. My thinking is 22 shells for trade bait. Can't be reloaded like other calibers.
Coffee, cigs, alcohol could bring a premium at the right time. Can openers would be a handy thing to have some of. Gold standard may be non-hybrid garden seeds.

I think people will quickly detach detach themselves from a currentcy that is so devalued to the point wheelbarrels carry it instead of wallets

A look at German inflation 1914-1924
You can get a pocket can opener at any sporting goods store. I keep one in my glove box and one on my key ring. It comes in handy a lot.
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