Assuming we cripple the fed and end up on a gold standard again, how do you view the transition occurring?
Mu h discussion about ending debt, taxes.....etc, but how does joe bob with a mortgage, car payment and credit card with a few grand under his pillow make out and square up?
I have a feeling that there will be a lot of desperate people... and many of them will put others in life/death situations. Be mentally prepared for this
I live rural and we are very 2a supportive. We bridge ranch and farm country with lots of deer and elk should it get rough.....and the silos have enough wheat to make bread forever.
The financial system is heading for collapse, world-wide. The economy will survive however; they are two different things. Your national currency, too, will survive. For a while.
In the U.S., the current spat of big inflation is pushing us toward a psychological tipping point: as times get tougher, folks are going to spend less, and start hoarding cash. This is the onset of deflation, that is, a loss of velocity in the flow of currency, and the resulting destruction of demand. People will hoard more, prices will fall, businesses, unable to make a profit will shutter, unemployment will climb.
At this point, Keynesians will do more of what Keynesians do, which is to print currency. Lots of it. This will gradually impart velocity to the circulation of currency. As people begin to feel more confident, hoarded cash comes out of hiding and joins the economy. In response, prices start moving upward, but they don't stop -- the amount of cash sitting on the sidelines, combined with the overreaction of the Fed sets off hyper inflation. Not too long after this, all faith in the currency is lost -- the financial system collapses.
In this time, barter will emerge as a viable means of procurement, regions will start producing local forms of currency, or even money. Utah and New Hampshire already have bills with embedded gold. It is legal tender in Utah, don't know about NH. Folks will spend coins with high silver content -- a pre '65 quarter will buy a lot -- and even pure silver and gold.
That's as far as I've gone. Not sure how we crawl out of this. The take away is that this doesn't happen overnight. Trump's EO for the repossession of assets of the many traitors in this movie gives hope for a soft landing, provide Devolution is a thing.
According to one site I found, those of us who are retirees are about 17% of the population of the US. Many of us have small or no pensions and, along with many of those who do have pensions, depend on savings to get by. Most have already paid off their mortgages and have little or no debt. Any way I look at the kind of financial disasters being predicted on here every day, we would face a catastrophe beyond description. And stop with the buy precious metals. We can't spend the savings we live on on gobs of silver and gold.
Bottom line - those of you younger ones figuring out how to survive this should probably be adding in how to make sure your parents and grandparents don't starve and lose their homes because they can't afford taxes. Remember Scarlett O'Hara making a dress out of draperies to go finagle money out of Rhett Butler to pay taxes and save their home? Did you know Margaret Mitchell based that book on family members' real experiences during the Civil War and Reconstruction?
Fortunately I fit the control group you described. I do wonder what debt and assets become in the reset. My plan has been to be hea y on important tangible items.
Same here.
I got myself out of revolving debt. I only owe on my home and car. I pay off my incidentals charges every month.
Invested majority of savings on PM and hard assets.
If the non fed banks are prepared, it should transition smoothly. Redeem old federal notes for new currency, allowing us to use the old bills and allowing time for the transition should go smoothly. Some refer to this as NESARA. Seems more likely it is happening world wide.
It doesn't get back to normal now, the world will be utterly changed, changed for the better, God willing.
The planet itself will be changed utterly, massive tectonic events will occur and land will be submerged by the sea. There will be cures for all sorts of afflictions that have dogged humanity and the cabal will be gone forever.
There is going to be a convergence of everything, this will happen like a lightning bolt, completely unexpected. All of a sudden everything will reverse in a Deus Ex Machina. Something huge is on its way.
I was wondering. All the money we print is paid to the Fed Reserve. Do we owe anything to anyone? Serious question as it seems we would need to step away from it, declare we owe nothing and find another form of currency backing.
There will be some turmoil swapping to gold, but Im not sute how it will be valued. Will it be valued on actual cash in circulation?
I think the simple method is keep as much cash on hand and out of the banks as possible. Convert to commodities where feasible and hold till the dust settles.
If you do invest Id suggest things that the US controls a large market share of. And companies that are US owned.
Let's do a thought experiment.
Imagine all the money that the government spends, imagine how much it has spent over the course of history, imagine all the money NGOs get, imagine all the money charities get.
All that money is OURS.
It was all spent without our knowledge on programs we would never have approved of and given to people we would never have agreed with.
Imagine the immensity of that number. It was all STOLEN from the American people.
People who for generations broke their backs toiling away just to live a simple life. Just to feed their families, drive to work, earn a living, die on a beach in WWII.
STOLEN.
That should make you very angry.