What Are You Doing To Prepare For The Coming Financial Crisis?

[Hafar1014]

When the price of gold and silver are increasing at their current rate, you KNOW that the dollar is rapidly losing value.

At 74 ... you likely don't have much to worry about. It's the younger generation who are about to enter the economic crises of their lifetime. It was fairly easy for you to buy a house decades ago. Today's fledgling couples don't make enough to even pay a down payment on a new house. The price of new vehicles is out of range for most young people. And we all know what fuel costs these days. The price of insurance continues to climb. Low quality hamburger is nearing $8.00 per pound while the good quality beef is over $10.00 per pound.

It's always wise to prepare for the worst. If you didn't need to? You still have your preps. But if you DO need to and you're not prepared ... life can get very, very tough.

Silver price is driven by increased semiconductor production so it has market value. So does gold

 

[Hafar1014]

For those of you that have lived through the last few market crashes , where we paid off the perps.....

Revaluation is on the table, along with an entire AI revolution to grease it's ride

why?

because there comes a point where the fed just can't 'print us out' anymore

and this is where the magic math comes into play.....

As to you gold & silver bugs, what happens if the gub'mit pulls an FDR? , which is exactly what will happen if our medium of exchange is entirely digital

~S~

Democrats hope for as market crash so they can blame Trump. It isnt going to happen

 

[1srelluc]

I'm in a very secure location but you're right -- it would be unwise to let the locals know what you have (though I do live in a very low crime area with lots of other preppers).

LOL....If you are a "prepper" then your "arsenal" needs upgrading.

How's your ammo fort?

 

[SaxonJackson]

Silver price is driven by increased semiconductor production so it has market value. So does gold

And ... the power of the dollar is diminishing. As the price of goods increase, wages aren't keeping up and job loss is on the rise. You can't just print money like it grows on trees and expect its value to remain high. It's back to the basic principle of supply and demand. With America nearly $40 Trillion in debt, other nations are beginning to question whether they want to hold US Treasury Bonds which are backed by "full faith and credit."

Full faith and credit? America has created the current crisis! Why would other nations trust America at this point?

 

[1srelluc]

Full faith and credit? Why would other nations trust America at this point?

Because they are even worse off.

 

[Hafar1014]

And ... the power of the dollar is diminishing. As the price of goods increase, wages aren't keeping up and job loss is on the rise. You can't just print money like it grows on trees and expect its value to remain high. It's back to the basic principle of supply and demand. With America nearly $40 Trillion in debt, other nations are beginning to question whether they want to hold US Treasury Bonds which are backed by "full faith and credit."

Full faith and credit? America has created the current crisis! Why would other nations trust America at this point?

The economy is strong long term looks good. Dont live in the moment you have to play the long game. Manufacturing is leaving Europe and coming here. The crisis is in socialist nations who are collapsing. The crisis is in democrat states that are collapsing.

 

[Care4all]

I've purchased some copper and gold and a decent amount of silver but you can't eat silver (though I've heard that it many have some medicinal value ... hahaha). A few Goldbacks for trade and barter or just for the gold value.

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Also stock things people will need and want....that you can barter with.....Salt, sugar, chocolate, wine, flour and yeast for bread....maybe? Stock, prescriptions, over the counter medicines and first aid items that you won't be getting from China or India.

Buy a propane or butane stove and bottled gas to cook or boil water or figure out how you will cook those meats in the freezer.

And for goodness sake, find a means for water that is not municipal, or keep stocking up on water!

 

[SaxonJackson]

Also stock things people will need and want....that you can barter with.....Salt, sugar, chocolate, wine, flour and yeast for bread....maybe? Stock, prescriptions, over the counter medicines and first aid items that you won't be getting from China or India.

Buy a propane or butane stove and bottled gas to cook or boil water or figure out how you will cook those meats in the freezer.

And for goodness sake, find a means for water that is not municipal, or keep stocking up on water!

All great ideas and practices that I'm implemented. Here's a thread I recently started. I have more pics to add as time permits:

Thread 'Collections Or Hobbies'

Sunday at 11:12 AM

I've seen a couple of knife threads lately. I decided to share my knife collection. I apologize for the poor picture quality. After three attempts, I was unable to get crystal clear shots. I'm not sure what's wrong with my camera. I even tried to edit them in Windows but to no avail. Anyway ... it is what it is. I know it isn't much but you have to start somewhere:

There is a mix of cheapo knives...

• SaxonJackson

• 
• 
• 

I'll use knives and silver for barter. My freeze dried foods and back up generators are for literal survival.

 

[Thinker101]

When the wife and I retired (within 6 months of each other) she was concerned. We went to a financial planner who laid out the plan going forward.

She said "what if things go bad". I mentioned that if things go so bad that we were unable to pay our bills and for the things we need, it would be because the political class had screwed up so badly that any societal agreements were negated and I would have no issues in stealing what we needed.

Mistake number 1, going to a financial planner AFTER retirement. But not to worry, you've already identified who to blame if things don't go well.

 

[Cellblock2429]

When the price of gold and silver are increasing at their current rate, you KNOW that the dollar is rapidly losing value.

At 74 ... you likely don't have much to worry about. It's the younger generation who are about to enter the economic crises of their lifetime. It was fairly easy for you to buy a house decades ago. Today's fledgling couples don't make enough to even pay a down payment on a new house. The price of new vehicles is out of range for most young people. And we all know what fuel costs these days. The price of insurance continues to climb. Low quality hamburger is nearing $8.00 per pound while the good quality beef is over $10.00 per pound.

It's always wise to prepare for the worst. If you didn't need to? You still have your preps. But if you DO need to and you're not prepared ... life can get very, very tough.

/---/ Like I say. You guys have been preaching gloom and doom for decades. Relax.

 

[pknopp]

Mistake number 1, going to a financial planner AFTER retirement. But not to worry, you've already identified who to blame if things don't go well.

LOL. I retired at 58.

I only went then to appease the wife.

 

[sparky]

Also stock things people will need and want....that you can barter with.....Salt, sugar, chocolate, wine, flour and yeast for bread....maybe?

~S~

 

[my2¢]

Being debt-free is wonderful. If I was younger and still in the work force, preparing for AI in relation to job security would be my emphasis ahead of investments. This is especially relevant with the new Fed chairman's push for productivity increases through AI as means of lowering inflation rather than interest rate increases.

 

[Dekster]

I have sold off all the property I plan to as of a couple weeks ago which, after the last round of taxes, is enough to get the kiddies through basket-weaving degrees and probably enough to retire on if we have no major medical needs before we get to medicare. Out of debt; retirements doing okay. Keep a much larger than we need garden just out of habit. Have a generator. Have plenty of trees that can be cut if need be. Short of being a prepper, we can get through a major downturn as long as the banks don't fail and money becomes worthless. If they do fail, well I hope I die in the first waive. Screw Grizzly Adams crap. I am lazy.

 

[merlin777]

This thread is for folks who are seriously preparing for the inevitable and quickly approaching mega-recession or depression. I'm truly interested in hearing from the wise folks in the forum and what you believe is the best plan of attack, so to speak.

I'm trying to prepare in as many ways as possible because I don't really know exactly what things are going to look like. I'm 100% debt free which was my starting point and first goal. I invested in a Harvest Right food freeze dryer and have been freeze drying food as much as possible. I bought a second freezer and am filling it with meat as quickly as possible. I'm still buying silver as often as possible even though the price is more than double what it was just a year ago.

I'm still putting money into savings and a 401k but I'm beginning to wonder if that's a wise thing to do. If the markets crash and if the dollar continues losing it's buying power, I may actually be throwing money away. What do you think?

Clayton of Redacted has some important news on the subject:

Navigating compliance and tax regulations can be incredibly overwhelming for small business owners. Staying proactive with documentation and consulting professionals early on is the best way to prevent costly mistakes.

 

[marvin martian]

Don't be flashin that shit around too much.
Remember when the SHTF, everybody is gonna be lookin for an angle.
Don't make your shit,theirs.

Yup, pknopp already said he'd be out robbing people. Though, he's already been doing that for years with his support for DemoKKKrat policies.

 

[Gabe Lackmann]

Yup, pknopp already said he'd be out robbing people. Though, he's already been doing that for years with his support for DemoKKKrat policies.

I'm a lover, not a fighter.

 

[Hafar1014]

The crisis was over when Biden was removed and Trump tool over. If you live in a democrat city the crisis will be in that city or state

 

[Votto]

This thread is for folks who are seriously preparing for the inevitable and quickly approaching mega-recession or depression. I'm truly interested in hearing from the wise folks in the forum and what you believe is the best plan of attack, so to speak.

I'm trying to prepare in as many ways as possible because I don't really know exactly what things are going to look like. I'm 100% debt free which was my starting point and first goal. I invested in a Harvest Right food freeze dryer and have been freeze drying food as much as possible. I bought a second freezer and am filling it with meat as quickly as possible. I'm still buying silver as often as possible even though the price is more than double what it was just a year ago.

I'm still putting money into savings and a 401k but I'm beginning to wonder if that's a wise thing to do. If the markets crash and if the dollar continues losing it's buying power, I may actually be throwing money away. What do you think?

Clayton of Redacted has some important news on the subject:

The thing is, you spend all your time hording food supplies and money until a group of people come along and kills you and takes everything from you cuz they want to survive as well.

Or you are able to hide by in large from such people who are bound to show up.

So, you are essentially planning to hide till you die I reckon.

 

[sparky]

Democrats hope for as market crash so they can blame Trump. It isnt going to happen

well that's a given Hafar

it's always a blame game among pols who will never and a day assume a modicum of responsibility

that said, i'm on the bottom rung of society , which has an advantage cuz i've not far to fall

~S~