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This subject scares the heck out of me!
From Newsmax
The value of our currency is not based upon anything of intrensic value, but rather on the full faith and confidence of the Federal Government, and our economic ability.
Social Security and other entitlements currently represent an 8.7 trillion dollar unfunded liability. http://www.whitehouse.gov/infocus/social-security/
American businesses are currently under investigation for deliberately mis-reporting income, and other financial frauds, as never before in our history.
Our trade deficits are at record all time highs. As a nation, we purchase far more than we sell to outside countries.
What will happen to the value of our money, and inflation, when it becomes widely accepted that the country is broke, and hopelessly in debt?
Serious informed comments will be appreciated.
A serious answer. Dead serious.
At your FIRST opportunity, convert about a fifth of your personal worth into hard cash.
Hard cash is not dollar bills and quarters. It is pre-1964 silver currency, and gold. You can buy what is called "junk silver" by the "bag". These are US silver coins. They are sold at very nearly silver value/weight, with the premium being added by the fact that they are easily recognized worldwide as silver.
If you are a *****in' gambler, you could mortgage yer house, car, and wife, buy a buncha junk silver... and then when the balloon goes up, pay off your mortgage, get yer car and wife back -- for one thousandth part or less of what you got for them.
In Germany, (1922) people bought houses, then paid for them at a ten-thousandth of a cent on the dollar a month later.
Timing, for this kind of thinking, requires a bona fide time machine.
For serious planning, though, do Paragraph 2.
The value of our currency is not based upon anything of intrensic value, but rather on the full faith and confidence of the Federal Government, and our economic ability.
Social Security and other entitlements currently represent an 8.7 trillion dollar unfunded liability. http://www.whitehouse.gov/infocus/social-security/
American businesses are currently under investigation for deliberately mis-reporting income, and other financial frauds, as never before in our history.
Our trade deficits are at record all time highs. As a nation, we purchase far more than we sell to outside countries.
What will happen to the value of our money, and inflation, when it becomes widely accepted that the country is broke, and hopelessly in debt?
Serious informed comments will be appreciated.
A serious answer. Dead serious.
At your FIRST opportunity, convert about a fifth of your personal worth into hard cash.
Hard cash is not dollar bills and quarters. It is pre-1964 silver currency, and gold. You can buy what is called "junk silver" by the "bag". These are US silver coins. They are sold at very nearly silver value/weight, with the premium being added by the fact that they are easily recognized worldwide as silver.
If you are a *****in' gambler, you could mortgage yer house, car, and wife, buy a buncha junk silver... and then when the balloon goes up, pay off your mortgage, get yer car and wife back -- for one thousandth part or less of what you got for them.
In Germany, (1922) people bought houses, then paid for them at a ten-thousandth of a cent on the dollar a month later.
Timing, for this kind of thinking, requires a bona fide time machine.
For serious planning, though, do Paragraph 2.
.
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