PLAN for the worst, Hope for the Best

Quote from nkhoi:

find the best match scenario.
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Thanks for the chart....most of the people who seem to have a good grasp of this collapse seem to think the dollar will devalue substantially.

If we have the dollar devaluing a lot ( >50%), would it be prudent to be buying govt bonds? It looks like the only time the bonds did not go up in value was during the stagflation era.

I do wish they had shown how the assets did during the depression era. Do you know how they did by any chance?

Gold looks to be a good bet if we have any type of inflation.
 
Quote from jjftw:

credit

there was almost no credit at all, everything had to be paid in cash, groceries, gas and small items were priced in local currency, homes, cars and anything of high value was priced in usdollars

at one point the interest charged for loans was 1 percent a day, i know most of you won't believe or understand this number but its true, 1 percent per each day and after 1 month the percentage charged is on compunded amount not on the original amount, but what's more outrageous, is the loan had to be 200 % collaterized, and only in gold, car or a house, means you had to give 200 dollars worth of gold to receive 100 dollars in a loan on which you have to pay 1 percent interest in a day

this is crazy now but back in a day my uncle took a couple of thousand dollars loan from a local mafia guy to buy some shoes in my country and sell it in russia, and due to interest he ended up losing the parents home and all the valuables like jewelry that my grandparents had left him
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My wife also grew up in the Soviet Union. After the collpase the Mafia moved in. She said the Chechens were the worst and most brutal. Their signature was beheading their enemies. She knew someone who got on their wrong side and his headless body was found in his car.
 
Quote from tradingbug:

Thanks for the chart....most of the people who seem to have a good grasp of this collapse seem to think the dollar will devalue substantially.

If we have the dollar devaluing a lot ( >50%), would it be prudent to be buying govt bonds? It looks like the only time the bonds did not go up in value was during the stagflation era.

I do wish they had shown how the assets did during the depression era. Do you know how they did by any chance?

Gold looks to be a good bet if we have any type of inflation.
More...

If things go to shit, you don't want to be holding paper, promises of paper, or paper receipts of anything.

You want to be holding physical gold and silver coin in small denominations to facilitate trade.
 
Quote from achilles28:

If things go to shit, you don't want to be holding paper, promises of paper, or paper receipts of anything.

You want to be holding physical gold and silver coin in small denominations to facilitate trade.
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What about investing in gold through ETFs or futures(paper gold).....not particularly holding physical gold?

If I cant hold paper gold and get paid out on it....wtf?
 
No, because in the worst-case scenario they'll be heavy default in gold delivery and gold will jump 1000$, overnight.

Comex doesn't guarantee counterparty delivery on contracts.

There's rumors gold miners plan a run on the COMEX next month. Lets wait and see.

Do some research on Futures volume to actual physical stock of the underlying.

Only 10 to 20% of the underlying could get filled if all open interest took delivery....

Its a paper market.
 
Quote from achilles28:

Sprawling mono-crop Mega Farms don't provide self-sufficiency. Small family farms do.

Thats what got many people through the great depression. They lived on farms, or on large property where they grew or raised, part or all of their food.
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As romantic as you're trying to make it all sound the fact is that a lot of farmland was lost during the Great Depression, about 100K acres worth, AKA the Dust Bowl.
 
Quote from luckybastard:

Exactly. Argentina went bankrupt in 2002 and what happened ? Life went on. Of course standards of living dropped, but there was no 'war zone' where you had to defend your own food with riot guns :)

Argentina was a HELL hole. Where do you get your bad information? Someone here on ET linked to someone who was writing from within Argentina about how horrid it was. Guns, bullet proof vests, not waiting at stoplights because of carjackings. Among many other things, children were not allowed to play outside, due to fear of snatchings.
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Quote from jprad:

As romantic as you're trying to make it all sound the fact is that a lot of farmland was lost during the Great Depression, about 100K acres worth, AKA the Dust Bowl.
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According to NPR, 30% of the population in 1920 were farmers and 60% lived rural.

Today, less than 2% of the population farms and less than 20% live rural.

The Dust Bowl has nothing to do with it.

Contemporary society is far less equipped to survive a food crisis, then our predecessors.

Its a relative comparison. Just because one circumstance is more favorable than another, doesn't imply either circumstance is "Good".

LOL
 
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