Both. Anything but US cash. Buy things for barter. Get new shoes for yourself and family. ALL my grandparents went through the great depression and they said shoes were the #1 thing to have. Keep all old shoes. Kids shoes are like gold they don't have to be expensive. Soap. Warm cloths.
Basically, if you keep assets, the government is going to tax the piss out of capital gains. If you keep cash it will be devalued by lack of purchasing power and zero accruing of interest. Crypto is unstable and easily attacked. Gold and silver are tough to store.
There’s no good answer. We’re between a rock and a hard place of total economic anarchy and hyper inflation.
What I’ve done is made all moves to pay off any debt, including my mortgage, and buy land. I can’t claim to be wealthy by any stretch, but it’s my feeling that minimization is key to surviving this debacle by lowering or removing risk.
Maybe for the swing back (if there is one). Right now though? Survival. Ammo, medicine, alcohol, supplies, food, water filtration. You don’t have to go overboard but just add to your biweekly shopping list.
Best is stuff that makes stuff. This ranges from tools, ownership of a business that does resource extraction or manufacturing, land.
Second are things that have intrinsic value, hard to manufacture, and non-perishable. This ranges from butane for lighters, clothes, generators, to lumps of rare metal such as gold, silver (bubble right now, watch out!), etc.
Third is things like crypto, stocks in a large corporation, or inflation adjusted securities.
Ole Jay Powell, chairman of the US Federal Reserve Bank, made a point of going on sixty minutes recently, which I don’t think was a coincidence. Of course he spoke the quiet part out loud and said, and I’m paraphrasing wages is what cause inflation. Total BS, but this is the narrative of the globalists.
This forum is great though. The M2 money supply chart has shot up like a rocket. But sure let’s blame it on wages.
Yes, increased wages increase costs. So this causes inflation. But there will be crazy inflation if a bunch of billionaires decide to buy raw materials or stuff for new businesses as well. It could also happen with continuing increased stimulus.
The only thing that is keeping hyperinflation away is a bunch of corporations and billionaires keeping their money sitting in banks like it's a high score.
They said that people were still making so much money on unemployment that they couldn't fill vacant positions.
In my local town, there's HIRING signs everywhere. The mask mandate just got lifted and there's a lot of pent up demand, but not enough supply of services and labor.
I don't think we're heading into "hyperinflation" just yet; however, recent events are textbook examples of the negative consequences of inflation.
How many of you, for example, thought about making a big purchase with your stimmy checks? Maybe a house project you've been putting off until you had more money? Maybe a bathroom remodel or a new roof?
Now, how many of you are thinking, "I should get this project going quick, because everyone is going to be doing the same thing I'm doing, and I'm either not going to be able to find anyone that can do the work, or the quotes are going to be sky high."
That's inflation: hurry up and spend your money before it loses it's purchasing power.
Many many years ago when I was in college, we happened to live near the border where the drinking age was 18 instead of 21, so we would often go down to the bars. I got to witness first hand how hyper inflation ripped a society apart, and destroyed everything. Middle class, gone. Since all new money comes into the economy through government, freedom gone. Stable contracts and getting things on credit, gone. Millions of desperate families who turned to begging, or whoring. Family, morality, and culture gone. Charity and church, decimated. Farming, which relies on credit and stable interest rates, decimated. Factories which rely on stable financing, contracts, and interest rates, decimated. Banks, decimated. The only people who did well had investments and assets outside the country.
Maintenance for simple things like cleaning, painting, building repairs, auto repair, was pretty much tossed aside, and everything was left to fall apart, everything became dirty.
Most people I meet are stupidly surreal and have no idea what's coming, they even cheer the stimulus checks. I would strongly recommend that people petition their state government to re-monetize gold like their lives depend on it, because it probably does.
The irony is when the socialist fuck up our country....they will blame capitalism.
So where should we put our money to avoid the hyperinflation bug? Crypto? Gold?
Both. Anything but US cash. Buy things for barter. Get new shoes for yourself and family. ALL my grandparents went through the great depression and they said shoes were the #1 thing to have. Keep all old shoes. Kids shoes are like gold they don't have to be expensive. Soap. Warm cloths.
Shiiiit I have a ton of old Under Armour basketball shoes. Guess I'm set then.
Thx for the reply.
Basically, if you keep assets, the government is going to tax the piss out of capital gains. If you keep cash it will be devalued by lack of purchasing power and zero accruing of interest. Crypto is unstable and easily attacked. Gold and silver are tough to store.
There’s no good answer. We’re between a rock and a hard place of total economic anarchy and hyper inflation.
What I’ve done is made all moves to pay off any debt, including my mortgage, and buy land. I can’t claim to be wealthy by any stretch, but it’s my feeling that minimization is key to surviving this debacle by lowering or removing risk.
Ammo it is then!
The best investment is paying off debt.
Not necessarily.
If you expect the dollar to devalue, then debt is actually good.
Buy appreciating assets with debt, and pay the debt off at a later date when the dollars (amount owed) is worth less.
Debt right now is good if you have a safe, reliable future income stream or secure job.
sold all my rental property.
Good news, revolution usually follows economic collapse.
Eh they can tax capital gains all they want. When it's cheaper to move my entire extended family to move another country I'll do that.
Maybe for the swing back (if there is one). Right now though? Survival. Ammo, medicine, alcohol, supplies, food, water filtration. You don’t have to go overboard but just add to your biweekly shopping list.
silver ASAP and as much as you can
Best is stuff that makes stuff. This ranges from tools, ownership of a business that does resource extraction or manufacturing, land.
Second are things that have intrinsic value, hard to manufacture, and non-perishable. This ranges from butane for lighters, clothes, generators, to lumps of rare metal such as gold, silver (bubble right now, watch out!), etc.
Third is things like crypto, stocks in a large corporation, or inflation adjusted securities.
Ole Jay Powell, chairman of the US Federal Reserve Bank, made a point of going on sixty minutes recently, which I don’t think was a coincidence. Of course he spoke the quiet part out loud and said, and I’m paraphrasing wages is what cause inflation. Total BS, but this is the narrative of the globalists.
This forum is great though. The M2 money supply chart has shot up like a rocket. But sure let’s blame it on wages.
porque no los dos?
Yes, increased wages increase costs. So this causes inflation. But there will be crazy inflation if a bunch of billionaires decide to buy raw materials or stuff for new businesses as well. It could also happen with continuing increased stimulus.
The only thing that is keeping hyperinflation away is a bunch of corporations and billionaires keeping their money sitting in banks like it's a high score.
I talked to a manager the other day.
They said that people were still making so much money on unemployment that they couldn't fill vacant positions.
In my local town, there's HIRING signs everywhere. The mask mandate just got lifted and there's a lot of pent up demand, but not enough supply of services and labor.
Best bet is to turn your money into useful items like food ammo clothes etc before the USD os worthless.
Thats what I'm doing anyway, inflation has already started and I believe hyperinflation is guaranteed.
The Fed is lying to our faces as we watch prices rise dramatically, they will continue to blame everything but their money printer. Just watch
I don't think we're heading into "hyperinflation" just yet; however, recent events are textbook examples of the negative consequences of inflation.
How many of you, for example, thought about making a big purchase with your stimmy checks? Maybe a house project you've been putting off until you had more money? Maybe a bathroom remodel or a new roof?
Now, how many of you are thinking, "I should get this project going quick, because everyone is going to be doing the same thing I'm doing, and I'm either not going to be able to find anyone that can do the work, or the quotes are going to be sky high."
That's inflation: hurry up and spend your money before it loses it's purchasing power.
Many many years ago when I was in college, we happened to live near the border where the drinking age was 18 instead of 21, so we would often go down to the bars. I got to witness first hand how hyper inflation ripped a society apart, and destroyed everything. Middle class, gone. Since all new money comes into the economy through government, freedom gone. Stable contracts and getting things on credit, gone. Millions of desperate families who turned to begging, or whoring. Family, morality, and culture gone. Charity and church, decimated. Farming, which relies on credit and stable interest rates, decimated. Factories which rely on stable financing, contracts, and interest rates, decimated. Banks, decimated. The only people who did well had investments and assets outside the country.
Maintenance for simple things like cleaning, painting, building repairs, auto repair, was pretty much tossed aside, and everything was left to fall apart, everything became dirty.
Most people I meet are stupidly surreal and have no idea what's coming, they even cheer the stimulus checks. I would strongly recommend that people petition their state government to re-monetize gold like their lives depend on it, because it probably does.