Dollar Collapse Theory - Who Will You Believe?

[CessnaDriver]

I hope it does not... I fear it will.

Same here. I cannot even venture to guess if and when.
It would be the single most long term impactful disaster that most
people would ever experience in this nation.

[SDM44]

If the US economy goes down so goes the world. Its going to be ugly.

If this ever happens, where the US will drag everyone else down with them, is it safe to say that Gold and Silver will not be worth much?

I assume that if there ever was a global economic meltdown where the dollar everywhere was worthless, I'd expect "prep items" to hold value and could be used as currency.

Any opinions on this?

[Quinc]

I located problemchild's remote cabin. My plan is to go there and mooch.

[speedrrracer]

Greece should have distributed that gold among its people so they'd have something to help them through what is about to happen.

Assuming there's any truth to any of the numbers in this thread, distributing all the above-mentioned gold equally, with zero loss, at the highest possible prices, to all Greeks:

11 319 048 / 4 091 779.59 = 2.76628976 ounces per Greek, or around 5 grand

I am reminded of the axiom which speaks about giving a man a fish to eat, or teaching him to fish...

[Ripon83]

Gold/Silver Bubble

Someone wrote their time line theory of deflation then hyper inflation. In the deflation period gold and silver should decline (as they have recently) and in the hyper inflation period they will rock.

There will be a bubble point though where gold and silver peak in the hyper inflation mode. If you hold too long and we're in a post dollar world its likely the gold / silver will decline dramatically and not be worth much - compared to essentials (prepper items as you noted). You just have to know "when" is the right time to bail.

I don't speculate in metals - I keep some for SHTF. Recently when silver went over $40 I sold some and bought a gun I coveted for a long time and have no regrets. That walther ppk/s in 22 cost me $73 in silver (my cost). I wish I had a little more gold, but its not a big deal because when it peaks I'll probably be living a remote life in a BOL and hardly need anything - again.

If this ever happens, where the US will drag everyone else down with them, is it safe to say that Gold and Silver will not be worth much?

I assume that if there ever was a global economic meltdown where the dollar everywhere was worthless, I'd expect "prep items" to hold value and could be used as currency.

Any opinions on this?

[Chaparral]

Doesn't matter what I believe. Prepare for both deflation and hyperinflation.

To prepare optimally for one scenario could leave one utterly destitute in the other so hedge your bets.

[Ripon83]

That is hard

Hyper inflation does not scare me. I feel fine about my position in the world if that happens....deflation not so much. That actually scares me because its hard to prosper in and I fancy myself a trader who'd like to improve my position in a period of change - but with deflation its hard.

Doesn't matter what I believe. Prepare for both deflation and hyperinflation.

To prepare optimally for one scenario could leave one utterly destitute in the other so hedge your bets.

[Chaparral]

- but with deflation its hard.

I agree that it blows chunks.

Any future "investments" I make will likely be income generating, such as small rental properties that I can purchase for all cash or nearly so...

My investments "NOW" are a bigger grid-tie inverter to accomodate some evergreen string-ribbon panels I got on the cheap, an evacuated tube hot-water collector for the roof, the mountings and duct work and fans for a solar hot air collector I built...stuff like that which reduces my cost of living so that I can buy that US Optics scope give all my excess money to my wife for God knows what latest dog-show handling fees/entry fees/car repairs/veterinary emergency.

Everything else is just a speculation at this point and I don't like the odds.

[SigP510]

To OP - I'll get the scoop from Mike Ruppert

[Regal Eagle]

During the depression the government confiscated bulk gold. The only gold that was safe was jewelry and collectable circulated coins. The government also ordered banks closed during that period in U.S. history, the closures were called banking holidays. So the precedent is already set. The penalty for possession of prohibited gold during that period was $10,000 and up to 10 years in prison.

[Ripon83]

Not Again

My feeling - just a feeling - is that will never happen again. Impact = Revolution

During the depression the government confiscated bulk gold. The only gold that was safe was jewelry and collectable circulated coins. The government also ordered banks closed during that period in U.S. history, the closures were called banking holidays. So the precedent is already set. The penalty for possession of prohibited gold during that period was $10,000 and up to 10 years in prison.

[J Money]

During the depression the government confiscated bulk gold. The only gold that was safe was jewelry and collectable circulated coins. The government also ordered banks closed during that period in U.S. history, the closures were called banking holidays. So the precedent is already set. The penalty for possession of prohibited gold during that period was $10,000 and up to 10 years in prison.

Wow, considering inflation that fine would be huge today.

[glockman19]

During the depression the government confiscated bulk gold. The only gold that was safe was jewelry and collectable circulated coins. The government also ordered banks closed during that period in U.S. history, the closures were called banking holidays. So the precedent is already set. The penalty for possession of prohibited gold during that period was $10,000 and up to 10 years in prison.

My grandparents came here in September 1939...My grandfather was a jeweler...in order to get money out, (gold coins at the time), and into the US. he made them into jewelry.

Gold coins were used for everything from buttons, belt buckles, earings, rings, necklaces and bracelets...one was a belt adorned with 15th century 1oz. gold coins.

[NoHeavyHitter]

Russia has stated that if we (usa) or Israel bomb Iran they WILL step in and use Nukes.

Link please? Sorry - I just don't believe they'd do that because they know Israel is going to "do what they're gonna do" regardless..

[problemchild]

I located problemchild's remote cabin. My plan is to go there and mooch.

Watch out for green angel hair wires that go bump in the night.