Basically don't have debt, and don't expect to keep your fiat money.
The wealthy are dumping money.
- Thread starter GOPerfect
- Start date
Basically don't have debt, and don't expect to keep your fiat money.
livingston
20×102mm Vulcan
Work to get out of debt and have some cash on hand (in your home ) to pay your taxes for a few years. If one thinks the crash is around the corner.
Where do you recommend buying silver and gold?
spat
.950 JDJ
Lead and Gold.
And when the inevitable confiscation order for both comes in, remember what boating accident you lost them in....
spat
.950 JDJ
Stocks generally do better than gold. If the market survives, and you can wait out the down turns, they are the best.
Gold does pretty good long term too though, and barring outright theft by your government (it may happen again here if things go south) it will weather a downturn better.
Who here wouldn't like to be sitting on gold you bought in the 90's for $50k ?
Robin
.577 Tyrannosaur.
What is on the horizon is without precedent, new to us all.
Robin
Robin
repete
.338 Win Mag
Just about ANY physical object that will not go down in value and may go up. I've been looking at a backhoe, don't really need it but it would be nice to have and depending on how good of a deal I get it will be a money maker or at minimum maintain it's value. And as far as gold/silver it hurts to buy at todays price's but who knows, we may look back a year from now and say " sure wish I bought more in 2020!"
I'm sitting here after a long day of working having a beer trying to mentally analyze some issues in my family right now and the world in general.
I'm starting to get some crazy ideas.
I'm trolling zillow right now looking at properties in middle and east TN.
Im sitting here daydreaming about selling my house, cashing in my 401k (yes I know it will get taxed to hell) saying to hell with it all and buying a small homestead in TN that I could either buy outright or very close to it. I'm looking into it and there are a fair amount of places with rural areas and high speed internet so if I had to get a remote job I'm sure I could. It wouldn't pay what I make now but that's the point of trying to have no mortgage or a very cheap mortgage it wouldn't matter.
With IMO the country and world going to shit and uncertainty what's going to happen to the economy cashing out a "sure thing" now and getting something tangible is becoming more enticing. Like it's subconsciously pulling at me in ways I can't understand.
Which is why I'm becoming increasingly worried about my stock market investments and 401k...
Karpteach
6.5 Creedmoor
I took my 414 out if the stock market and have it in a fixed rate. I'm worried that the market is gonna tank.
spat
.950 JDJ
If the currency tanks too that won't help.
And with the "stimulus" and lockdowns, how can it not tank ?
repete
.338 Win Mag
You forgot walnut and blued steel along with lead and brass.
No "I" haven't!
Robin
.577 Tyrannosaur.
With little or even no investment you can start gathering parts right now to have in place when you need it. People will always need and find a way to finance a jug of whiskey.
Robin
ecosystem3
.40 S&W
Toss the first 1/3, keep the middle 1/3, add the last 1/3 to the next batch.
Chicken Shoot
.45 acp
Remember when Walmart refused to sell seeds and had them roped off in early 2020?? Yeah .... seeds will be a hot commodity soon enough. If the leftist POS major corp's are showing that they won't sell them, that means you NEED them!!! Kinda like Walmart refuses to sell certain firearms ..... you need those too!!
Blimey
.450/400 Nitro Ex
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Karpteach
6.5 Creedmoor
I’m coming to the end of my career. I don’t have time to wait for another up market. Better safe than broke.Are You Making These Money-Losing Investment Moves?
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Blimey
.450/400 Nitro Ex
But I bet you retire with many, many years of stock market gains left in it. Everybody will agree to take some money off the table through fixed income, bonds whatever, but keep some in stocks
BerettaGuy
.308 Win
We have a generation or two and maybe even three that thinks nothing throwing a package of strawberries in their cart in January here in New York. They don't have a clue on what it takes to grow strawberries, or when they are in season. Fruits and Vegetables have seasons and it wasn't too long ago that they were not available year-round. We today have it better than any king or queen that ever lived, ever and we don't have to hire armies and deal with plots to overthrow us. We are cool in the hot summer and warm in the cold winter. OUr poor drive cars and can also use public aid money to buy fresh strawberries in winter. When things go south. When the trucks stop running and a gallon of gas cost 15.00 and bread cost 25. That last thing we need to worry about is what the rich people did with their money. Worry about what the people in power are going to do you. After every other communist takeover, there was a purge using the poor and the "workers" to take everything from everybody, because in a communist state, everything belongs to the state. Get ready for it. What will a generation or two or maybe even three do when they are used to strawberries in winter and promised strawberries in winter again if they do this or that?
I have been doing the same. I started a thread a while back in regards to my stock investments. I have a lot of money socked away, I am on the verge of wanting to get away from it all.
www.landsofamerica.com great place to land/ property shop.
holdover
.475 A&M Magnum
Gold Silver. Gold and silver have always held their value against a falling currency. So if you had 10K in cash and 10K in gold when the dollar loses say 10% of its value due to inflation. Your now now holding 9k in cash, but still retain your 10K in gold .Precious metals retain their value against a falling currency.Again , if your holding 50K in dollars and the dollar loses 3-4 percent per year over a few years, your 50K value is being stolen through inflation, its now worth around 40K .
the price of gold in 2000 was $272 today its 1800. 2005 the price of gold was $513.00 in 2010 the price was $1400.
Its not so much that gold has increased in value but that the dollar has lost value . Long term saving in gold will maintain its value where as long term saving in dollars will lose value.
You can definitely make money in Precious metals during the spikes and drops of price change , I expect a price spike in silver to hit 38-40 this year where Im going to sell off some metals if it does because I expect the price to settle back down to the high 20's or low 30S and keep the change. If it doesn't drop , I still made a good profit on my buy at 15 an oz and might buy another metal to retain value .
the thing with gold and silver is that they dont spike and drop often enough for investment only , unless your playing the game with millions .
one of the reasons they hold thier value is because there is a limited amount and always a demand . Ask your self why the central banks around the world hold gold and silver? Because it retains value.
holdover
.475 A&M Magnum
One thing for sure is that the dollar is going to drop in value. Without a doubt the value of your money this year will be less than next year. the Fed already said it is going to allow 2% inflation this year, which means 4-5 % minimum ,and I anticipate it being even worse the year after due to the colossal printing of money, which is basically counterfeit. So Without question, the price of precious metals along with guns ammo food are going to rise this year. With civil unrest and riots and inflation, and demand , the price of guns and ammo should rise sharply.
Doc8404
.450/400 Nitro Ex
I’m riding it out. At 46 and 11-14 years away from retirement, I hope to have time.