[deMolay]

Rumour has it that Thursday and Friday will be very bad. A devaluation of the Greenback is underway I think. Barrons

Edit: Converted [url] to hyperlink.-FL

[ReverseEngineer]

$this->bbcode_second_pass_quote('deMolay', 'R')umour has it that Thursday and Friday will be very bad. A devaluation of the Greenback is underway I think. Barrons

[lawnchair]

$this->bbcode_second_pass_quote('ReverseEngineer', ' ')Pay off any debt you have and sit tight waiting for it all to blow.

[ReverseEngineer]

$this->bbcode_second_pass_quote('lawnchair', '')$this->bbcode_second_pass_quote('ReverseEngineer', ' ')Pay off any debt you have and sit tight waiting for it all to blow.

[IslandCrow]

$this->bbcode_second_pass_quote('lawnchair', ' ') If you have a debt, say a 4% student loan or a 5% mortgage, and the cash to pay it off, why would you at this point? You'd still have the cash to pay it off tomorrow, even if the dollar goes Weimar. Hell, your lender may not outlast you. In the meantime, you can have something tangible in your hands with that cash.

[ReverseEngineer]

$this->bbcode_second_pass_quote('IslandCrow', ' ')someone else will buy the debt (probably at a discount) and you will still have to pay it back.

[lawnchair]

$this->bbcode_second_pass_quote('IslandCrow', 'I') can read this two ways. One is that you will use the money to buy something tangible, in which you no longer have the money to pay off the debt. Is that the way you meant it?

[patience]

I'm trying to figure out what a bond crash means to retail prices. To solve that problem, I must decide what will be the relative prices/values of US$, other currencies, and commodities, both imported and domestic. This is too much for me. (And many other people, it seems.) I think imports to the US will go up, or become less available, so I'm long instant coffee, and every other import I could think of.

My answer has been to go for lesser-risk over the past couple years. First, we dumped stock funds for money markets, then cashed those. Then, we dumped stocks for US Treasuries in another fund, then cashed out the Treasuries last month, to pay off our kids' mortgage. Now sitting in cash, in 3 banks, and wondering where to go from here, as the world crumbles around us.

Our income is, unfortunately, mostly Social Security, in which I have little faith, but we'll get what we can, trying to recoup a bit of the pile they stole from us over a lifetime. Have a debt-free, well-stocked small business, but trade is waning each day. Have preps, of food, fuels, tools, home/gardens/orchard, etc.. Now working on getting our kids' place set up to farm with horses. Done all we know for preps.

Have paid taxes for the year, phone/internet, insurance (may drop all that except medical next year), and have enough gas for cooking for 10 years. Now putting in 250 gal. gasoline farm tank, while gas is down (going up here-$1.55 up to $1.75 now), and stashing a barrel of kerosene for lamps. Solar PV ready to go to work. Wood heat almost ready, wood on hand.

NEXT: Trade goods? Need some way to preserve liquid cash for future taxes/needs. Tax man won't take PM's. Banks aren't safe. Uh, ideas, anyone? I hear crickets. It's very quiet out there.....

[vision-master]

If I had the means to pay off my house , even if it left me with no reserves, I'd do it today!

[patience]

We were fortunate to be in a position to pay off our home, but we only have a one acre lot and a modest home. My last purchase was a set of horse driving harness. I'll build a light wagon next. Daughter has access to horses for using those. If shortonoil's analysis is correct, in 2 to 5 years, we will need that. Anyway, NO MORE paper "assets" for us. Disposing of FRN's as we speak.

[shortonoil]

patience said:

$this->bbcode_second_pass_quote('', 'W')e were fortunate to be in a position to pay off our home, but we only have a one acre lot and a modest home. My last purchase was a set of horse driving harness. I'll build a light wagon next. Daughter has access to horses for using those. If shortonoil's analysis is correct, in 2 to 5 years, we will need that. Anyway, NO MORE paper "assets" for us. Disposing of FRN's as we speak.

[patience]

shortonoil,

Thanks. The chickens are on the way next spring, materials lying in the backyard for the henhouse, have a feed grinder, and have some grain put away for them. Done that before, but it's been a while.

Yeah, I'm thinking US junk silver coins. Hate to take the transaction haircut, but it could be worth it if things go like I expect, a sort of "Iceland Moment".

edit: Got a line on a dog, too, a German Shepherd/Akita mix. Other security measures are in place.

[Cid_Yama]

<i>I believe that what is to come will most closely resemble Europe during the Thirty Years' War.</i>

The major impact of the Thirty Years' War, fought mostly by mercenary armies, was the extensive destruction of entire regions, denuded by the foraging armies. Episodes of famine and disease significantly decreased the populace of the German states and the Low Countries and Italy, while bankrupting most of the combatant powers.

So great was the devastation brought about by the Thirty years' war that estimates put the reduction of the German states population between 15% and 30%. In the territory of Brandenburg, the losses had amounted to half, while in some areas an estimated two-thirds of the population died. The male population of the German states was reduced by almost half. The population of the Czech lands declined by a third due to war, disease, famine and the expulsion of Protestant Czechs. The Swedish armies alone destroyed 2,000 castles, 18,000 villages and 1,500 towns in Germany, one-third of all German towns.

Much of the destruction of civilian lives and property was caused by the cruelty and greed of mercenary soldiers, many of whom were rich commanders and poor soldiers. The war caused serious dislocations to both the economies and populations of central Europe.

Pestilence of several kinds raged among combatants and civilians in Germany and surrounding lands from 1618 to 1648. Many features of the war spread disease. These included troop movements, the influx of soldiers from foreign countries, and the shifting locations of battle fronts. In addition, the displacement of civilian populations and the overcrowding of refugees into cities led to both disease and famine.
link

<i>A major change in agriculture occured as a result of the Thirty Year's War and persisted afterwards. Due to the widespread pillaging and burning of crops, farmers switched to below ground crops which could not be burned and were difficult to steal.</i>