Worried about my money becoming WORTHLESS due to fed!

Discussion in 'The Okie Corral' started by u4ea, Oct 20, 2010.

  1. u4ea

    u4ea

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    I work extremely hard. I have a young daughter and a family that depends on me. I make 75% of the income in my 3 person family. Enough of the sob story, though. I have been saving and saving for 3 years now. I am worried that the economy will completely crumble, and my money won't be worth the paper it is printed on. What should I do? I know a guy who has 100k in CASH in his home safe, and he is looking furiously for ways to "save" his investment after the dollar crumbles. I don't have even close to 100k, but I wouldn't want to lose what I have worked my ass off to afford. I wish the fed would stop printing money out of thin air. It almost makes me wonder what I am working for. I missed the gold boat, so I don't know what to do to ensure the stability of my family, and to not be sitting on money that is not worth crap. Thoughts?
     
  2. voyager4520

    voyager4520

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    It'll lose value over time, but if it crumbles in such a short time so will the rest of industrialized society and the only things of value will be food, water, medical supplies, and the weapons to defend yourself and your supplies.

    Not much you can do really. You'd lose probably the same amount of money by investing in material goods like physical precious metals or guns. Only things you can really do are hope and vote.

    Land might be the only thing that really maintains value, until a bunch of developments crop up around it and the local water rights get sold halfway across the country or even the continent.
     
    Last edited: Oct 20, 2010

  3. u4ea

    u4ea

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    Isn't it the opposite? If the dollar crumbles and is replaced by something else, won't diamonds and gold always have a value, no matter the currency in use?
     
  4. cowboy1964

    cowboy1964

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    This is why gold and silver are skyrocketing. Just dollar cost average into those. Don't put everything you have into them but 10-20% of your portfolio would be very prudent. Silver especially is outpacing even gold lately. Hey if it drops, it drops but which is more likely over the next few years: gold/silver will continue to slowly (or drastically) rise or they will collapse? I know which one I think will happen.

    Find a good online dealer that doesn't overcharge. Ebay is also a good source and you can get decent deals if you spend some time and bid smartly. I've never had a problem with Ebay transactions. I keep them small so if anything does go wrong it's not a whole lot of money to pursue. Buy one or two silver American Eagles every week. Soon you will have nice little SHTF piggy bank. I recommend keeping larger amounts in a safety deposit box but there are those who will say that is a bad idea as banks could deny access in a collapse.
     
    Last edited: Oct 20, 2010
  5. voyager4520

    voyager4520

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    Currency is only worth the work being done at the time the currency changes hands. Our economy depends heavily on money always changing hands, every minute of every day. If that cash flow stops for even one day the results would be catastrophic.
     
  6. u4ea

    u4ea

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    I am just worried about my future. I am not a financial guru, just a blue collar worker who works long and hard for his family and doesn't want it taken away by the corrupt gov't.
     
  7. BobbyS

    BobbyS Truth always sounds like lies to a sinner

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    If what you say happens, it will be Mad Max time.
     
  8. MadeInAmerica

    MadeInAmerica

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    That's why I invest in lead.
     
  9. marlinfan

    marlinfan

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    I keep about 10% of my savings account in physical silver and gold. I just buy a little bit every payday, but it's getting more expensive now. Gone are the days when a $20 bill brought home 3oz of silver, or $100 bill got a 1/10th oz gold eagle and and ounce of silver....meh, if the dollar does crash every other currency will bite the dust too so everyone will be starting over.
     
  10. Matthew Courtney

    Matthew Courtney Instructor #298

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    Everyone should diversify their assets... some in cash, some in real estate, some in commodities, some in the means of production of things people cannot do without....

    Phillip Morris
    Ambev (Budweiser)
    Merck
    ADM
    Exxon Mobil
     
  11. Cody Jarrett

    Cody Jarrett

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    I share the same concerns. I've been buying vacant wooded land. It may not appreciate in value but it's tangible and I can go out and take a pee on MY asset.