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  1. #41
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by oberon View Post
    Maybe it's a good time to start stocking up on canned goods.
    Or start buying silver coins (the junk, not the numismatic stuff).
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  2. #42
    Oberon
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    Quote Originally Posted by Lateralus View Post
    Or start buying silver coins (the junk, not the numismatic stuff).
    Prices on silver and gold are already up.

  3. #43
    Senior Member Lateralus's Avatar
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    Silver bottomed out near $4/ounce a few years ago and recently peaked around $20. It was trading for around $12.50 today after recently dipping below $10. I suspect we won't see silver near $4 for a LONG, LONG time. Once inflation starts to kick in, silver and gold are going to skyrocket.

    The nice thing about silver is, unlike gold, you could use a silver coin to buy food. A gold coin is far too expensive to be used in food purchases.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  4. #44
    Oberon
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    Quote Originally Posted by Lateralus View Post
    Silver bottomed out near $4/ounce a few years ago and recently peaked around $20. It was trading for around $12.50 today after recently dipping below $10. I suspect we won't see silver near $4 for a LONG, LONG time. Once inflation starts to kick in, silver and gold are going to skyrocket.

    The nice thing about silver is, unlike gold, you could use a silver coin to buy food. A gold coin is far too expensive to be used in food purchases.
    Well, gold is for people who need to convert some serious money into a readily portable form. Silver is more for day-to-day use.

  5. #45
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by oberon View Post
    Well, gold is for people who need to convert some serious money into a readily portable form. Silver is more for day-to-day use.
    That's true. That's why I made my post in response to your comment about canned goods.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  6. #46
    Oberon
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    Quote Originally Posted by Lateralus View Post
    That's true. That's why I made my post in response to your comment about canned goods.
    I need to lay in a supply of lead ingots, too. I can always cast bullets if I have to.

  7. #47
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by oberon View Post
    I need to lay in a supply of lead ingots, too. I can always cast bullets if I have to.
    If the economy gets bad enough, bullets will become currency.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  8. #48
    Senior Member Misty_Mountain_Rose's Avatar
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    Quote Originally Posted by Eileen View Post
    On OKCupid, there's a question to the effect of "In a certain light, wouldn't nuclear war be exciting?" I have to answer yes, though that doesn't mean that I WANT nuclear war. I think I feel the same way about an economy collapse.

    Though truly - I am one of the lucky ones with a more-secure-than-most job. So it's easy for me not to worry too much in the short run.
    I think what they're talking about is more than 'job security'. When you're afraid to open your door or drive your car because someone is more than likely going to hold a gun to your head and demand what little gas is in your car or shoot you for a loaf of bread, there is no such thing as 'security'.

    I watched normal, 'good' people at the gas pumps this past summer when the gas shortage hit our area. Every where you went there was no gas to be found. At the one or two stations that still were not out, lines were around the block and if someone cut the line or tried to steal a pump people were angry and tense enough to do really stupid things.

    Situations like that create a survival mob mentality. In this event, your paper dollar will be worth exactly sh*t. You won't be able to GET to your job, and you won't be able to get a check cashed.

    Quote Originally Posted by reason View Post
    Greed is irrelevent.

    Suppose that people were paying back their debts easily. Suppose that homes were not over-priced. Suppose that the Federal Reserve and banking system did not artificially expand the credit supply. Suppose that Fannie Mae and Freddie Mac were sound. Suppose that there are no problems. If everything here were true, then all these transactions would have been mutually beneficial for all involved. Everyone would be wealthier and happier and secure. And guess what? The greed would still have been there.

    Greed is always there (why do you think people are trading at all?). It is usually tempered by fear--fear that debtors will default. But the U.S. Government--and governments around the world--alleviated or removed that fear by guaranteeing debt, suppressing interest rates, and penalising caution. In effect, they socialised the losses. It is like telling a gambler that any winnings are his to keep, but any losses are someone elses problem. What do you think that gambler will do?

    Greed may have been the motivation for these bad investments, but it would have also been the motivation if they were good investments. Greed is a common factor in both scenarios, and therefore, explains nothing.
    Very well put

    Quote Originally Posted by Lateralus View Post
    If the economy gets bad enough, bullets will become currency.
    We're on the same page Lateralus
    Embrace the possibilities.

  9. #49
    Glowy Goopy Goodness The_Liquid_Laser's Avatar
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    Quote Originally Posted by oberon View Post
    Our government has, in the last six months, hit up the Federal Reserve for over a trillion dollars in loans in an attempt to revive the economy. Not only have such efforts proven ineffective, the loans themselves represent a serious danger.
    $1 Trillion is actually small potatoes compared to the debts we've incurred during the past 8 years. That is why our dollar has become devalued. If our government continues to incur debts at this rate then we will see the dollar devalued under Obama just like it was under Bush. However I don't think you'll need to worry about $1 suddenly worth only 10 cents. You've got the right principals, but you aren't doing the math. The money won't be devalued to the extent you are suggesting.
    My wife and I made a game to teach kids about nutrition. Please try our game and vote for us to win. (Voting period: July 14 - August 14)
    http://www.revoltingvegetables.com

  10. #50
    Oberon
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    Now here's something interesting to consider: Here it Comes

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