Dollar taking dive

[Bill B]

What are your thoughts? Is this a slo-mo SHTF or an aberration?
Anyway, take a look at the charts:
INO.com Markets - Chart for U.S $ INDEX (NYBOTX)

 

[misconfig]

This is scary stuff, the CEO of wally world is explaining how the 'core spenders' for Wal-Mart are going busted. Gas prices are getting astronomically high, plenty of things follow this lead.

If thing's don't change quickly many experts see a complete demise of our economic system.

 

[irishfan]

Honestly, I don't worry about this stuff at all. Every week you will see something else about gold and silver going up and the dollar down. Five years ago people thought the government would collapse but its still here. I prepare for two things and that is natural disaster and public unrest.

 

[Bill B]

This is scary stuff, the CEO of wally world is explaining how the 'core spenders' for Wal-Mart are going busted. Gas prices are getting astronomically high, plenty of things follow this lead.

If thing's don't change quickly many experts see a complete demise of our economic system.

Not doubting you, but can you point me to some articles about this?

 

[ThrottleJockey]

Honestly, I don't worry about this stuff at all. Every week you will see something else about gold and silver going up and the dollar down. Five years ago people thought the government would collapse but its still here. I prepare for two things and that is natural disaster and public unrest.

You kind of hit on a point I've been contemplating. Considering the relationship between gold and the dollar, isn't investing in and hoarding gold sort of like guaranteeing the value of the dollar to go down as the value of gold increases? And then when it peaks and everyone sells.........see where I'm going?

 

[rideac]

IMO collapse of our economy is inevitable. We've put it off many times, but we cant do it forever. We went to war with Iraq because Saddam wanted to price his oil in Euros(instead of the World's reserve currency the USD) because he saw all the fallacies with the dollar, so we went in built bases, and made an example out of him. That put it off a little longer. Then we had to bailout all of these insolvent companies and banks in 08 with taxpayer money and they're all still unprofitable losing businesses. Nothing has changed, we still have deficit spending every month and this year the national debt will have increased by roughly 1.2 trillion.

Do you see where im going with this? We cant do this forever. Its all going to come crashing down. 14.3 trillion dollar national debt and the printing presses are still running.

If we don't end the FED, we'll all be dead (except us gun owners, we'll last a little longer than most.)

 

[irishfan]

You kind of hit on a point I've been contemplating. Considering the relationship between gold and the dollar, isn't investing in and hoarding gold sort of like guaranteeing the value of the dollar to go down as the value of gold increases? And then when it peaks and everyone sells.........see where I'm going?

Yep! Also, I don't care what has happened in ancient times and so on. YOU CAN'T EAT GOLD OR SILVER. If I have food and water while you have $200,000 worth of silver then I will be happier then you in a long term crisis. Also, there is no way that I am giving up some of my stored food for your precious metal when my kids are starving. However, I will trade you some of my items you need for items I need.

 

[Barbecue]

Could it be that the birth certificate release is just a distraction for what's happening with the dollar?

 

[djl02]

Could it be that the birth certificate release is just a distraction for what's happening with the dollar?

Might be a distraction,but theres no hiding the collapse of the dollar.

 

[iwearcowboyboots]

Could it be that the birth certificate release is just a distraction for what's happening with the dollar?

The birth certificate release was no more a distraction than the 3 years people spent worrying about it. Apparently people want to get lost on silly ****, must not be anything good on TV I guess.

Fed chair talked yesterday in a first ever Q&A session about the trouble our economy faces. That was shadowed by the "big news" of the birth certificate. If you didn't catch Big Ben, don't worry. He said there won't be any inflation and that everything will be just fine as long as we keep our eyes closed and our fingers crossed because he has it all under control. Just in case though, he suggested that we provide burnt offering of a fat ram or bull on the 3rd Tuesday of each month.

 

[insidethebunker]

He said there won't be any inflation and that everything will be just fine as long as we keep our eyes closed and our fingers crossed because he has it all under control. Just in case though, he suggested that we provide burnt offering of a fat ram or bull on the 3rd Tuesday of each month.

 

[Hoosier49er]

Yep! Also, I don't care what has happened in ancient times and so on. YOU CAN'T EAT GOLD OR SILVER. If I have food and water while you have $200,000 worth of silver then I will be happier then you in a long term crisis. Also, there is no way that I am giving up some of my stored food for your precious metal when my kids are starving. However, I will trade you some of my items you need for items I need.

My thoughts exactly...

 

[djl02]

Maybe they have both

 

[Garb]

Might be a distraction,but theres no hiding the collapse of the dollar.

Don't tell the mainstream media that.

 

[88E30M50]

A very good site that has a decent discussion on the dollar crash is Chris Martenson - Information on the global economy, environment, and our energy challenges. Real estate, oil, community, homes, money. - Chris Martenson, ChrisMartenson.com. I'm one of the folks that does think the dollar is crashing and when it does, you'll get the public unrest that we prepare for. I don't know if it's going down this week or even this year, but it's going down. My guess is that we have a couple of months but who knows. When it happens, it will happen pretty quickly. We'll see what happens if the fed turns the printing presses off in June like they are supposed to.

There is a bit of time to prepare though, but not much. The big question is, what to prepare for. Everyone should have a minimum of two weeks of food and water available, as well as a bit of cash. When it does crash, there may be a lot of panic buying and supplies might get short in stores.

Gold does have a purpose right now. Sure, it's not the best thing to have if you need to buy stuff with it, but it is a darn good way to try to protect your savings. If you have a retirement account with $100k in it, you can either move it to gold or silver if possible, or chance watching it evaporate with the value of the dollar. Gold has been very good at keeping a consistent value over time. In 1900, a $20 1 ounce gold coin could buy a nicely fitted, high quality suit. Today, that same 1 ounce gold coin can still buy a nicely fitted high quality suit.

If you are looking for precious metals to use for bartering, silver is a better bet. Pre-1964 silver coins will still be worth something while today's coins become scrap metal.

I recommend preparing. Prepare for a natural disaster. Prepare for public unrest. And, prepare for a day when there's not a Wally World across town with everything you need available for a few bucks.

 

[ATOMonkey]

Depends on what happens to our status as world reserve currency. If they decide to use the funny money as world reserve then we are BONED.

 

[cosermann]

The U.S. is like a freight train or a large ship. It won't stop or turn on a dime, but it's definitely changing direction.

Without significant, systemic changes we have some huge problems. It will just take us longer to get there than a smaller country/economy.

 

[Iroquois]

Had this type of discussion years ago with heavy stock market guy. I told him I wasn't buying gold, I was investing in brass, lead, and blue steel...he just nodded...
I agree with the idea of storing food. Also buy soap,bleach,T.P.etc. Maybe a weeks worth of gas {with sta-bil in it].

 

[jsharmon7]

Decline of the dollar, spike in precious metal prices, debt ceilings...very scary stuff. I'm sure Pearl Harbor, the Cuban missile crisis, Y2K, etc. were all very scary as well. Every generation seems to have its "oh noes" moment. There's not a whole lot I can do about it so I don't see much reason to worry myself sick about it. It will/won't fail whether I worry about it or not. Ambivalence? Well, yes and no.

 

[Stschil]

The U.S. is like a freight train or a large ship. It won't stop or turn on a dime, but it's definitely changing direction.

Without significant, systemic changes we have some huge problems. It will just take us longer to get there than a smaller country/economy.

Changing direction? I beg to differ. That course changed a very long time ago. Like a bullet leaving the muzzle, the ballistic curve has peaked and we are no longer in control. Gravity is pulling us down until impact.

I personally don't believe there is any way to turn this around without some level of a collapse. Maybe not a total meltdown, but there will, without a doubt, be much suffering when it does. Preparations are the only sensible thing to do at this point.

As far as precious metals are concerned, they should be a part of your preps, but not for the reason that most people think. Gold and Silver are a means to protect your savings so that you will have some initial buying power in the days just preceeding and just after the meltdown, not to use to buy your way to survival because you didn't cache supplies, food, ammo, water, etc. What many people don't realize is their 401K's and IRA's won't just be worth less because of hyperinflation, they will be GONE! The government does not consider the funds in those accounts the property of the person that put them there because they have not yet taxed it. You don't own it until Uncle Sammy gets his due. In a dollar collapse situation, just wave them goodbye.

Also, follow this scenario: You've put countless hours and money into your food supply, ammo, energy alternatives, etc only to be forced from your home by the banks who own your mortgage. History shows there were a great many people displaced after the Stock market crash in '29 because the banks called the notes in an attempt to stave off their insolvencies. Banks are debtors too and their loans were called. The ball started rolling down hill from there. Foreclosures were eventually halted, but it didn't do the displaced people any good at that point.
Here is where those precious metals come in to play. With hyperinflationary prices, your Silver and Gold have inflated in value as well, however, your mortgage hasn't. Use these to pay off those debts before the banker man comes a knockin and tells you to vacate.