Show me one post I've made in 3 years that shows I said to start digging up your backyard and stocking up on toilet paper and we can have an exchange. Till then, adios.
OT: Why is Warren Buffet always ahead of the game?
- Thread starter itseasyas1-2-3
- Start date
I had to take you off Ignore to even see what you posted.
Show me one post in the last 3 years where I told anyone what to do with their money?
I haven't and don't intend to, I simply post what I have done with my money and I've done well.
It may not work for you.
To be clear, I'm not telling you to do that, I'm just telling you what I'm doing.
People have pred been predicting financial Armageddon since I've been old enough to read. It may happen someday who knows...
There's literally hundreds of things that can happen this year. This time it's different. Hope you've got bitcoin.
I know you like busting his balls, but he isn't wrong to preach about being prepared. If the mortality rate for Covid was significantly worse, we could be living in bizzaro world right now. Personally, I am not expecting anything to happen, but I am trying to prep for the off chance something does happen. Covid showed us how fragile everything is.
And if my aunt had wheels she'd be a bicycle. I'm just telling you that I bury uranium in my yard just to get prepared. You do you, I'm not telling you what to do. Global meltdown. Fiat. Doge coin.
I am taking you off my list of people I am willing to give a roll of toilet paper to.
We are in a mega bubble for sure. This recession will separate the rich from the fake rich.
The funny thing about bitcoin is those who own it, like it and are glad they have some. Those that don't own bitcoin, for whatever reason, wish they would have bought some for 1K or 2K or 5K cause they'd sure like it now at 66K a pop.
The bad thing is, if events went south and we were hit by an EMP or someone decides to turn the internet off, then POOF those digital numbers on a computer screen just vanish into thin air.
Whereas you look at your bank statement, your stock portfolio, your 401K or your IRA and what do you see? Nothing but a bunch of digits on a computer screen.
So, only one thing can happen, but not the other?
Obviously I like to prepare for things that "could" happen. I knew when I started this thread I would get some incoming from a few guys, its all good. As I'm approaching 71, the last thing I'm concerned with is what a handful of guys on an internet message board think of of me or my methods.
All I have to say is 3 years ago when I joined this board:
Gold was 1,743.00 an ounce.
Today gold started at 2,759.00 an ounce.
Silver was 25.14 an ounce. Today it started at 35.04 an ounce.
Even Bitcoin was 42,600.00 and today it started at 67,375.00 each.
Even if bitcoin vanishes, my position is still as good as gold.
If money becomes nothing more than paper and gold becomes currency - it won’t have any more value than what someone is willing to trade for it. We would turn into a true barter economy at which time food and water and fuel would have true value and be exchanged for other goods and services of legitimate needs.
If this were to truly happen money would be used for fire and gold would be nothing but a a shiny rock. Anything not necessary for survival would be of little use.
If we’re investing in alternate strategies I would be investing in a small armory and then someone who stocked up on food but not guns/protection has now given me all his food.
I will probably invest some level in precious metals just for diversity not necessarily because of its value in a financial collapse. IMO
If this were to truly happen money would be used for fire and gold would be nothing but a a shiny rock. Anything not necessary for survival would be of little use.
If we’re investing in alternate strategies I would be investing in a small armory and then someone who stocked up on food but not guns/protection has now given me all his food.
I will probably invest some level in precious metals just for diversity not necessarily because of its value in a financial collapse. IMO
If this world goes to shit, would you be willing to trade some nice two ply for one of your guns? Chew on it. I don't need an answer now.
Having a clean ass will be the greatest sign of wealth in such an economy. I’ll be “Ol’ dingleberry RBigredmax” … with a lot of guns.
First of all, paper is currency and gold is money.
Please understand there are no 2 people on this site that are going to agree on much of anything other than Husker football. Despite my contrarian views, I do respect the way everyone conducts their own personal finance.
If the supply chain is severely disrupted, as it could be, remember the stores have only 3 days food in there. Some people think little elves are making bread and butchering cows in the backroom, that product all has to be shipped in. The first real crisis could be that credit freezed and everything in this country runs on credit.
There are probably 8-10 credit transactions that take place between when a farmer plants the wheat to the time it shows up on the grocery shelf.
In an upside down economy during a real financial crisis, bartering will be a way for many to get by. You gonna try to buy a dozen eggs from a farmer with a dollar bill? Good luck with that. You want to give him a couple pre 1964 dimes that he knows are worth about 22 1/2 times their face amount, and you have yourself a deal.
Very simply gold has been recognized as real money for thousands of years. Its not like you're gonna buy food from your neighbor, but you want to go a source like a couple of my farmer friends and they can hook you up with just about anything you need.
Regarding strategy, I have that covered. I don't wake up everyday expecting the country to be in total turmoil, but if it does, then I can feel I'm prepared.
I go forward with this idea:
The very best scenario for you, myself and others is that I'm wrong. Okay?
The very worst scenario for all of us, is that I'm right.
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if buffet was all that he would have us 22 players and a kicker before sat
In 1958 for a few years I grew up on a farm with no plumbing and and outdoor toilet.
I had my fill of wiping my behind on corn cobs, Sears catalogs, etc. Rest assured, I do keep a couple of extra rolls of tp around, just in case.
My nephew warned me of this and I bought a toilet paper factory 15 years ago. The only toilet paper you'll get is the TP I supply. XRP!
You could say that about anything speculative, including real estate. People that don't own a house, wish they would have bought 2-5-10 years ago. No, in a global catastrophe the likes of people describe on here, both your stock portfolio and bitcoin will be equally worthless. People are putting money in stocks thinking it's good for the zombie apocalypse though, that's the difference.
When you start to peel layers of the onion back, we will all find we are living in interesting times.
My TP is going to be my currency, but my family and I will be using hard copy NVDA stock certs.
I find this economic forecasting stuff interesting, but I will say this much:
Inflationary pressures:
1) the federal debt is way too big.. the government must inflate the currency to effectively cut the value of the debt being repaid.
2) port workers (I think the longshoremen union, just got a 60% pay raise over 6 years type thing (10% per year) and another big union got a 30% over 3 year contract. These are for unskilled laborers that work the ports.. also inflationary.
3) Government spending (regardless of party) is out of control.. also inflationary
4) Federal Reerve is lowering interest rates now.. some believe there is likely to be another bout of inflation (I think so as well)
Deflationary pressures:
1) Population decline. Less people, less things and services are needed.. this is the whole reason for the illegals entering the country in my opinion.
2) Deflation coming from Technology. AI is going to absolutely wipe out jobs globally. When more people have less money to spend, it causes prices to go down.
3) China is also exporting deflation, lowering prices further and further on goods, in an attempt to keep some of it's manufacturing going. These goods and services are costing less and less and look more and more attractive to businesses that didn't learn their lesson last time around.
In the end, what is going to win? I don't know but let's say the AI jobless thing plays out, they will have to give money to these people or you will have people robbing people at every turn or people starving.. so you end up printing the money and having some sort of UBI, which is inflationary too.
So I'm betting on more inflation, but nothing moves in a straight line.
Inflationary pressures:
1) the federal debt is way too big.. the government must inflate the currency to effectively cut the value of the debt being repaid.
2) port workers (I think the longshoremen union, just got a 60% pay raise over 6 years type thing (10% per year) and another big union got a 30% over 3 year contract. These are for unskilled laborers that work the ports.. also inflationary.
3) Government spending (regardless of party) is out of control.. also inflationary
4) Federal Reerve is lowering interest rates now.. some believe there is likely to be another bout of inflation (I think so as well)
Deflationary pressures:
1) Population decline. Less people, less things and services are needed.. this is the whole reason for the illegals entering the country in my opinion.
2) Deflation coming from Technology. AI is going to absolutely wipe out jobs globally. When more people have less money to spend, it causes prices to go down.
3) China is also exporting deflation, lowering prices further and further on goods, in an attempt to keep some of it's manufacturing going. These goods and services are costing less and less and look more and more attractive to businesses that didn't learn their lesson last time around.
In the end, what is going to win? I don't know but let's say the AI jobless thing plays out, they will have to give money to these people or you will have people robbing people at every turn or people starving.. so you end up printing the money and having some sort of UBI, which is inflationary too.
So I'm betting on more inflation, but nothing moves in a straight line.
Yeah most people fall into inflationary or deflationary recession. I’m camp deflation.
Government spent like crazy to save housing back in ‘08-‘12 and that didn’t do anything.. we still had a ton of deflation.
I’ll trade my my wife for anything if this goes bad.
You guys only THINK you and Buffett are willing to do what it takes!
You guys only THINK you and Buffett are willing to do what it takes!
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Good stuff Nikki.
I'm gonna jump all over the place in this response, LOL.
My view is we are not so far away from hyperinflation on the things we need, and stagflation on the things we own. The economy is very weak, and the deficit at 35 Trillion which requires borrowing 1 Trillion every 100 days just to pay the interest. No way that can end well.
The influx of illegals I think is a pea and shell approach. The real reason for many of the illegals is much more nefarious in nature.
When the BRICS+ countries get up and running, it is going to make it very difficult for us to get the things we need because they are no longer going to accept the USD for trade settlement. In their basket of trade settlements of gold, oil and other commodities they will no longer accept the Dollar, they want something real for something real in return.
If they are, and they've said they are, going to use between 20% and 40% gold to back their trades, then the price of gold, by necessity, will need to increase 2X to 4X at 20%. If it's 40% then the gold price, by necessity, will have to increase 6X to 8X's in price. Russia's top leader has openly said in speeches their country will include physical silver in thei basket of reserves backing the "unit."
By having him state that, it is a indirect/direct assault on the LBMA and COMEX exchanges to shrink and consume the silver available. With China and India buying in massive amounts, the real numbers show, there is a defined date the supply could be exhausted. People think silver is simply an industrial metal, but its also money, and almost as importantly, it is a strategic metal. China, India, Tesla, etc can't make solar panels, batteries, tv's, computers, and almost all military intelligent weapons which require phsical silver to operate.
There is a lot more, but I need to hit the pause button so this doesn't get too long winded.
I'm not editing this, so there could be typos, spacing/column issues, etc.
When all the accepted and invited countries join the BRICS+ group, it will be nearly 70% of the world population that will not accept any USD as trade settlement.
I very much agree with your deflation model but I'm considering aspects that lead to stagflation. At a point, we are likely to have a gigantic loss in the value of homes nationwide. I've already factored that in, since I wasn't planning on selling anyway.
**Edited. I typoed was and meant not planning on selling.
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I have an older model, so I'm not in the market unless things get really bad.
I was 5-6-7 years old, so it was strictly for business.
My favorite line from the crypto queers… “When the dollar implodes, banking systems go belly up and society as we know collapses what are you going to do?”
Well… I sure as shit won’t be buying stuff with magical internet money and you won’t be either.
If "the worst happens", we won't need to worry about money or digital things. If the worst happens you think you are going to have keep making your mortgage payment??
Gold only holds value if other people want it...if "the worst happens" there will be no market that tells you how much gold is worth...it will be as valuable as a sandwich or a handjob.
Gold only holds value if other people want it...if "the worst happens" there will be no market that tells you how much gold is worth...it will be as valuable as a sandwich or a handjob.
THIS!
This weird idea that all digital stuff will be wiped out but somehow we will still be using bitcoins...
Facebook marketplace has already shown me who the fake rich people are. A lot of nice toys for sale.
