Off Season: Financial Discussion

[Topcat]

I thought about buying Bitcoin about 10 years ago. But from my research, if my harddrive crashed, the key to my account went with it.

No thanks, I'll stick with gold & silver. Plus I like to get it out every once in a while and relive my days as a 12th level dwarf.

Silver makes a lot of sense, along with real estate and any other investment with tangible assets, along with your own personal tangible assets. I'm afraid a crash is coming, and it's going to be a big one, folks. The 800-lb. gorilla in the room is the over $2.5 QUADRILLION total worldwide debt, much of it derivative exposure. Did you hear of the U.S. bailing out Germany's Deutchebank a few months ago to the tune of $360 billion, to prevent it from crashing? And even AFTER the bailout, the bank still has a $49 TRILLION derivative exposure. And they're not alone: Goldman Sachs, $42 trillion in derivatives; Morgan Stanley, $32 tril; Merrill Lynch, $31 tril. And there are many more. When the entire system finally crashes, and it will, all those without any tangible assets will run to the banks and try to pull out their money. Good luck.

[dmac_bolt]

Silver makes a lot of sense, along with real estate and any other investment with tangible assets, along with your own personal tangible assets. I'm afraid a crash is coming, and it's going to be a big one, folks. The 800-lb. gorilla in the room is the over $2.5 QUADRILLION total worldwide debt, much of it derivative exposure. Did you hear of the U.S. bailing out Germany's Deutchebank a few months ago to the tune of $360 billion, to prevent it from crashing? And even AFTER the bailout, the bank still has a $49 TRILLION derivative exposure. And they're not alone: Goldman Sachs, $42 trillion in derivatives; Morgan Stanley, $32 tril; Merrill Lynch, $31 tril. And there are many more. When the entire system finally crashes, and it will, all those without any tangible assets will run to the banks and try to pull out their money. Good luck.

silver is sort of a heavy load vs valuation. if you have to pile it all up and carry it around from shanty town to shanty town post-apocalypse, you'll need a bigger suburban.

[like54ninjas]

Post apocalyptic world would have no value of currency other than barter of goods/services. Tangible assets like water, food, energy, salt, etc would become invaluable.

The strong will oppress the weak.

Shit we are already there!

[Topcat]

Post apocalyptic world would have no value of currency other than barter of goods/services. Tangible assets like water, food, energy, salt, etc would become invaluable.

The strong will oppress the weak.

Shit we are already there!

Agree Ninja...I said a COMBINATION of silver (not exclusively silver) AND tangible assets, especially non-perishable and canned food...these are the most important items to have...civil unrest will increase...and when the economic collapse happens, everything will accelerate...I highly recommend reading "The Road to Ruin" by James Rickards, not some nutcase, but a highly respected economist who was an advisor to the Pentagon and some top investment firms. Rickards describes how the top financial and political people actually have a plan to reset the whole economy to a different monetary system, to be controlled by the IMF...this reset is called "Ice-Nine." The plan is to declare a bank holiday, freeze all accounts for a few days, maybe a week (even ATM's), and switch from dollars to the new currency...all deposits in dollars will be paid to investors with probably pennies on the dollar with new IMF money...get most of your money out of the bank now before the reset happens...and buy tangible assets...a VARIETY of tangible assets...before the crisis hits and those goods become scarce, unavailable, or inflated to Weimar Republic levels...Venezuela meets U.S...

[like54ninjas]

We've invested in land, multiple states & 1 foreign country, with multiple water resources on each property with most including mineral rights.
Assests like gold, silver, platinum, precious/semi-precious gems with will be strong currencies. That's if you have the physical assets not the market equivalent.

Power will be huge. Our property in Colorado, where we break ground next year on our retirement home/ranch/compound, will have a solar/wind power plant, internal water filtration system, and a buried 12 month power cell.

[Topcat]

We've invested in land, multiple states & 1 foreign country, with multiple water resources on each property with most including mineral rights.
Assests like gold, silver, platinum, precious/semi-precious gems with will be strong currencies. That's if you have the physical assets not the market equivalent.

Power will be huge. Our property in Colorado, where we break ground next year on our retirement home/ranch/compound, will have a solar/wind power plant, internal water filtration system, and a buried 12 month power cell.

I'm impressed, Ninja. Most people are totally oblivious or in denial about the idea of prepping for some future emergency. But, after the California fires, coastal hurricanes, and Midwest floods, a lot of those former scoffers are suddenly getting Prepper Fever...

[Boltsfan70]

I bought bitcoin at the wrong time. I have been sitting on it

[Xenos]

So anyone here read those finance blogs like Mr Money Mustache?

[Xenos]

Honestly this Freakonomics broadcast sums up my guidelines for being financially independent.

http://freakonomics.com/podcast/everything-always-wanted-know-money-afraid-ask/

[foreigner]

Bitcoin and all that shiat is what is going to cause the next economic crisis... It has the great depression and 2008 crisis signs written all over (Overvalued stuff that is worth nothing when everybody tries to cash it).

[Topcat]

Bitcoin and all that shiat is what is going to cause the next economic crisis... It has the great depression and 2008 crisis signs written all over (Overvalued stuff that is worth nothing when everybody tries to cash it).

The coming economic crash will most probably be a combination of cryptocurrency collapse, plus the $1.4+ million derivative exposure the banks currently have, plus the combined national debts of many countries. Stock up now on tangible goods--food, meds, other supplies, before hyperinflation kicks in, and later, scarcity or total unavailability of these goods.

[Fleet]

Alright. So i just put in some work in this thread. I dont want a bunch of off topic threads on the main forum. And i think you guys tried to move this discussion into a new thread but its pointless if those climate posts are still in the thread about finance. I have moved all the global warming stuff from this thread and into the climate thread on the OT forum.

So go there and talk about it there.