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All this Dollar collapse speculation.

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I give it exactly 2 more years. We're holding on as long as we can but it looks like the house of cards has started falling. Question is, should I build up my credit card limit and max them out with fast cars & woman right before it happens OR just be an onlooker and see how bad it gets?

Throughout history hasn't it been the case that when/if one currency fails it is just replaced by another?

So... what if the USD along with all of the other world currencies follow the path of Zimbabwe and become virtually worthless, what will all you millionaires do? you still have the knowledge to build up wealth again when you can but you wouldn't be rich really anymore? what about all the hard working poor and middle class Americans, the ones on wellfare or the ones barely struggling to keep their businesses afloat?

There would be complete chaos in the US because people & businesses wouldn't be able to function and I don't think our government would allow that to happen. Lets see here, without the poor and working classes tax money would the government be able to function and be paid their outrages salaries? ...same for CEOs they get paid big money too all from the hard labor of the little guy.

Let's just SPECULATE and say the USD becomes completely worthless within the next 2-3 years and instead of us all having worthless money MR, Barack icantfindmyownbirthcertificate Obama decides to instate a new currency called... oh... I dunno... lets just call it some random name like the Amero and if that happens would the money everyone currently owns in USD be calculated over to the Amero or would everyone just start over from nothing? THIS IS ALL SPECULATORY of course.

What are your thoughts & Does anyone have any plans for what they are going to do if and when the USD does collapse?? ...Because for someone young who doesnt have a whole lot of money saved up yet im trying to consider my options.
 
I'm heavy into pork bellies.

It doesn't matter if you are rich or poor...
buy in US$, Euros, Pesos, Lira, Yen or Ameros...
deliver newspapers, or run the free world...
I don't care who you are...

EVERYONE loves a cool pitcher of Pork Belly Julip.

(I think it is the mint sprig that "does it".)
 
The powers that be learned to not let the trillions of dollars get into consumers hands. The big banks have it all. Banks aren't fractional reserve lending to multiply money supply available to business.

Fortunately for us, the rest of the world is in worse shape than the US. Most of them cannot print money. We are in effect being chased by a bear but we are able to outrun our buddies, buying time. The dollar would have a better chance of falling if there was a better alternative to store wealth, whether that is other currencies, basket of currencies, precious metals, or seeds, bullets, guns, barrels of oil and a doomstead.

It's a confidence game. The fed/treasury is trying to keep up treasury funding so our "elected elite" spendaholics continue to get new credit cards to max out and on the other hand they have to maintain the confidence of the fleeced public not to make a run on the markets/banks. The banks are more than happy to oblige as they make an easy spread. A very tight line to walk these days.

The big banks are getting free money and taking down treasurys (a carry trade) then turning around with repo agreements getting cash on those treasuries and inflating the market. It's all interlinked and any glitch can trigger an avalanche. With all those interrelations its tough for funds to even know their risk exposure.

Meanwhile look at what rate you can get for your savings? Guess who is getting paid ahead of you? Who gets to pay back those trillions in new debt issued by your govt and the fed?

Yesterday was no fat finger incident.
 
For the first while, money will still hold a lot of value. There will be a lot of people that have faith that their little cotton tickets still mean something.

I really don't suggest just racking up debt while speculating that the economy is going to collapse and make your debt all better. That's about the same as going "Well, I -can- just file for bankruptcy..."

If you're that worried about collapse there is plenty you can do to be prepared for it. Learn to grow your own food for one. There are at least some plants you can grow inside your house, so it doesn't matter if you have no property to grow them on. There is also a technique called espalier, where you train trees and shrubs to grow flat against a wall or fence. These plants still produce fruit. Growing an Espalier fruit tree

You should have several months to a years supply of spare food with a little excess. This is good practice in general, but imperative if your money is going to be worth less than the dirt you stand on.
Dried foods tend to last half a year, canned forever, frozen food for "a very long time" but we all hate freezerburn. This website has all the information you need, either directly or through links about freezing, canning, growing, pickling and drying food. Invaluable knowledge for surviving tough times. Fruits and Vegetables

Now, finally... There are many, many people who are hoarding the coins that still have valuable metal in them. Old copper pennies are the poor mans gold reserve, nickels that are either made of nickel or coprenickle*, or even the old gold and silver coins. Some of these people are just waiting for a lift in the penny melting ban, while others speculate on a collapse and believe there will be value in non-fiat money when it happens.

Wise man once said, "If you don't hold it, you don't own it." and that will be true in the case of an economic collapse.

Survival is the easy part, and there's always room for a barter system for nice things like blankets and toilet paper. What I'd be most worried about is looters, abusers, and military invasion. (Possibly even your own countries so they can 'redistribute your excess to those less fortunate'.) If your country is looking bad, and there's another country that looks fine, you might just be better off going there until 'things settle down'. Before a true collapse, so you don't find every flight locked out and every ship that's gonna sail, gone.

That being said, you can always take an assessment of your skills and know what you would have to contribute to other peoples well being during that kind of crisis. If you can entertain, make wine, case bullets, teach children, cook hotdogs from tinfoil, coathangers and pop bottles... You are in a good position to sell yourself on the street. Er..

For the most part this is just an everyman strategy that's highly suitable for people who only have maybe a few thousand, tens or thousands, or maybe even hundreds of thousands... But it's all tied up in their home banks or stuffed in their mattresses and at complete risk of being useless.

Bonus idea: Sell your economically worthless money to foreigners for the historic value! :thumbsup:

*Copper nickel alloy. I may be off on the name and or the spelling.
 
At B&P in February Runum taught us all that all of this stuff has happened before. The headlines are similar. People freaking out about a world where no one has food and cars will sit still because there is no more gasoline. There will be riots and looting and the only way to stay alive will be to loot, kill, steal, and horde everything you can!

Well... the sun is going to come up tomorrow guys. Instead of complaing about any of this why not just modify your plan? Case and point - if you hate the dollar so much why not try to sell your product in our countries to earn in a stronger currency?

I know it is frustrating but we are here to think of solutions, not problems. We all have enough problems as it is.

As cool (and interesting) as FDJustin's post is, you will not starve I promise. It's like someone who builds a bomb shelter and sits in it all day because they know Russia is going to bomb us... or Iraq... or Afghanistan, or North Korea, whatever.

Before you sell all of your possessions and take on survival training in the woods, why don't we google past events such as recessions and depressions?

I'm just as guilty as the next guy thinking 'worst case scenario' sometimes, but I have to remind myself also "The sun will come up tomorrow."
 
Well, the Sun is our risen Savior! If it didn't come up in the blue mists of Dawn, we'd all be dead!

If you think in terms of Capital Goods (Assets creating Assets) and Products (Solutions). I believe you'll be alright.

I only made this thread because I wanted to know WHAT other people's projections were. I heard a lot about this for a long time, I just didn't know it was so close to the fore.
 
As cool (and interesting) as FDJustin's post is, you will not starve I promise. It's like someone who builds a bomb shelter and sits in it all day because they know Russia is going to bomb us... or Iraq... or Afghanistan, or North Korea, whatever.

I was trying so hard to come off as less extreme than that, too! :p
Oh well, I'll take that imagery if it also comes with cool (and interesting).
 

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