Thrive During Global Depression?

[Forza]

Robert Kiyosaki mentioned that if one of the rich countries of the world goes bankrupt, the world economy will fall with it. How can you survive and thrive when the world economy crumbles? Only with no frills products like sugar, toilet paper, oil, electricity, water, etc?

 

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[GlobalWealth]

buy gold, guns, ammo, seeds and bread

 

[Forza]

So what you're trying to say is, you won't thrive financially....?

 

[GlobalWealth]

So what you're trying to say is, you won't thrive financially....?

What do you consider 'thriving'? Is it cash in your bank account? If the world financial markets completely collapse, what good does money do anyway? Remember, money is a tool. Money is not green paper. Money is not the number of zeros in my bank account. Money is the medium of exchange I use for trade and it is the store of my wealth. If you need ammo and I need milk, we can trade. In the absence of green money or bank account zeros, this is how the world works. Barter. Money only makes barter easy. If I have lots of gold, guns and ammo, I AM thriving financially because this has become my money.

go find the book "The History of Money" by Jack Weatherford (I think that was the author). very interesting read.

 

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[EastWind]

how did people do it back in the day?
LIVE OFF THE LAND!

 

[Forza]

If the world financial markets completely collapse, I guess we'll fall back to the gold standard. Is everyone here looking at buying gold, and how would you protect it from theft? Would you even be able to get hold of the gold you bought after the collapse?

 

[GlobalWealth]

If the world financial markets completely collapse, I guess we'll fall back to the gold standard. Is everyone here looking at buying gold, and how would you protect it from theft? Would you even be able to get hold of the gold you bought after the collapse?

The reality is we should never have left the gold standard. My feeling is historians will look at the 20th century as the century of government fraud with the proliferation of fiat money. Gold has survived as money for thousands of years. it still can be used as money. Right now gold is trading a bit over $1100/oz. If I wanted to do business with you and offered to pay you in gold, would you take it? I know I would. I would even discount my services for anyone willing to pay in gold, as I'm sure many people would.

Gold storage is another issue altogether. This would depend on if we really did fall into complete financial collapse of fiat currency. If that were the case, you would need to have physical possession of your gold because this is what you would use for trade. Just like now, you don't walk around with $10,000 in your pocket (unless you are going to vegas) and you wouldn't walk around with that much gold in your pocket either. Keep in your pocket what you need and hide the rest. But instead of hiding it in your BofA checking account, you would probably bury it in your back yard. I know this seems primative, but would you really trust your gold coins to a bank?

it would be easy to get gold if there were a collapse because the world would revert to a gold standard. you would need to provide a product or service people need and are willing to pay for and they would give you gold in exchange. and then you would exchange your gold for the things you need.

 

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[LondonLife]

A hut in the mountains, a shit load of security, a minefeild, a stockpile of petrol, canned goods, and a big a$$ gun...

Sitting on a ton of gold until markets stabalise.

*flicks through the classifieds for appropriate mountain retreats*

 

[throttleforward]

I believe a fiat currency is only as good as the weapons of the country printing the currency. I honestly think that we moved from the gold standard to the military standard (the ability to discriminatly kill globally).
I might be mistaken, but I believe that in recent history the only time that a fiat currency has collapsed completely in a first world nation is after their military was rendered impotent (or was never very powerful to begin with).

 

[GlobalWealth]

*flicks through the classifieds for appropriate mountain retreats*

:great:

 

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[GlobalWealth]

I believe a fiat currency is only as good as the weapons of the country printing the currency. I honestly think that we moved from the gold standard to the military standard (the ability to discriminatly kill globally).
I might be mistaken, but I believe that in recent history the only time that a fiat currency has collapsed completely in a first world nation is after their military was rendered impotent (or was never very powerful to begin with).

every fiat currency that has ever existed has collapsed. it has been tried many times, but the 20th century could be considered the 'fiat currency century' as every major government centralized banking and fired up the printing presses. when a government controls the money supply, they abuse it and it always leads to inflation. inflation can simply be defined as when the government prints more currency that the value of 'stuff' that exists which in turn leads to the 'stuff' increasing in cost to catch up with the amount of currency.

there are many, many examples of currency collapse, most recently Argentina in 2002. there was Russia in 1998. Mexico 1994. Asia 1997. Germany post WW2. And these are just a few that I could think of off the top of my head.

Keep in mind that the US increased the money supply in 2009 by over 100%. yes, over 100%!!! this has never happened in the US. it has only happened a few times ever in history and each time it led to a complete currency crisis. as the cliche goes, 'those that ignore history are destined to repeat it'.

 

[Cat Man Du]

A hut in the mountains, a shit load of security, a minefeild, a stockpile of petrol, canned goods, and a big a$$ gun...

Sitting on a ton of gold until markets stabalise.

*flicks through the classifieds for appropriate mountain retreats*

:fireworks::fireworks::fireworks:

 

[CommonCents]

Hide your gold really well

On April 5, 1933, newly inaugurated President Roosevelt issued Executive Order 6102, which prohibited the “hoarding” of gold by U.S. citizens. Americans were required to turn their gold holdings over to the federal government at the prevailing price of $20.67 per ounce.

Pursuant to Roosevelt’s executive order, anyone caught violating the law was subject to a federal felony conviction, 10 years’ confinement in a federal penitentiary, and a $10,000 fine. Soon after the confiscation, U.S. officials announced that the government would sell its gold in international markets for $35 an ounce, thereby devaluing the dollar by almost 70 percent and immediately “earning” a potential profit of almost $15 an ounce on the gold it had confiscated.

"Two months later, Congress enacted legislation nullifying gold clauses in both government and private contracts, thereby requiring creditors in such contracts to accept devalued paper money in payment of such contractual obligations, even though the contract itself stipulated payment tied to gold.

Reflect for a moment on the significance of what Roosevelt did. Gold coins and gold bullion were private property, just like a person’s automobile, clothing, home, and food. On the mere command of the president of the United States, federal authorities simply confiscated gold holdings that were the private property of the American people and made it a grave federal offense to own such property in the future."

 

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[Rem]

I would strive for power and if done right wealth will follow. Determine what it is most people in a global financial downturn need, and then have it in abundance so you can offer it. If people are broke and need it, you can provide it for a return of their time or commitment to you.

Get people to rely on you for their every day life. Then you can gain power. You may not have tons of money since people may not be able to pay you the money, but you have the power and they are in your debt.

 

[Cat Man Du]

I would strive for power and if done right wealth will follow. Determine what it is most people in a global financial downturn need, and then have it in abundance so you can offer it. If people are broke and need it, you can provide it for a return of their time or commitment to you.

Get people to rely on you for their every day life. Then you can gain power. You may not have tons of money since people may not be able to pay you the money, but you have the power and they are in your debt.

All of the commune leaders...aka Jim Jones..........did this and became QUITE rich.

 

[maximus20895]

This recession made quite a few people VERY rich in the stock market. I love recessions in terms of this.

 

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