Who thinks the dollars going to crash?

[KANACKI]

Hola Amigos

While indeed financial outlook may look grim and prices of imported things goes up. True but with dollar devaluing and skilled labor force has its benefits. Companies products made in USA will be more affordable and competitive on world markets. That itself intern dives productivity and employment growth.

Roughly three-quarters of the government's debt is public debt, which includes Treasury securities. As of July 20, 2020, debt held by the public was $20.57 trillion, and intra governmental holdings were $5.94 trillion, for a total of $26.51 trillion. Debt held by the public was approximately 77% of GDP in 2017, ranked 43rd highest out of 207 countries. ( 42 other countries have a higher debt ratio % GDP )

Regardless because of United States being such a large consumers market no one will let America go broke. Not even China even if they hate our guts. Why because its not in their financial interest.

China gets a lot of attention for holding a big chunk of the U.S. government's debt and for good reason, given its rapidly expanding economy. China takes the second spot among foreign holders of U.S. debt with $1.07 trillion in Treasury holdings in April 2020, just behind Japan

Japan is the largest foreign holder of public U.S. government debt, owning $1.266 trillion in debt as of April 2020.2
China ranks second in total U.S. debt owned by foreign countries, with the U.K., Ireland and Luxembourg rounding out the top five.

In effect they have a vested interest as your debt as it is their investment. So its not in their interest to let the American economy to collapse. What will happen is compromise between interested parties and US Federal Reserve imposing tighter fiscal spending to lower debt to GDP%. With the devalued US dollars makes manufacturing competitive then productivity growth will help also in lowering the ratio of debt to GDP.

Kanacki

 

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[BillA]

Hola Kanacki, so your view wrt the dollar's demise is..... not now, because devaluation yields benefits.
hmm, as we know - for the first
hence the noise about "currency manipulation", the US wants to be first

for sure China is a player and the west did their normal pillage and gave them a lesson, the dividends will now be observed
in all areas the Chinese will work, hard, to improve their position (and who would not want improvement)
hence the noise about "unfair competition", the US will not accept competition from an equal
nor permit anyone to be an equal

agree that China is totally invested in the present economic system, and they will participate
agree also that China will not initiate any rupture as it is not to their benefit
the US is presently attempting to derail and stunt the Chinese economy
hence the recurring "genocide claims", yea "weapons of mass destruction"

there is a pattern, am not so optimistic

 

[Tpmetal]

Imagine if you and your family were hunkered down after an apocalypse and looking at your food stores you had 1 months worth of food and some dude from Tnet shows up with the lost Dents run gold and wants 2 weeks of your food in exchange. Literally, one of those little single serving Salt and Pepper packs from Burger King would be more valuable to you then his gold.

not to men like me.....i have all I would need minus some medicine stuff. I would be trading for gold preparing for the new economy

 

[BillA]

not to men like me.....i have all I would need minus some medicine stuff. I would be trading for gold preparing for the new economy

Timeline?

should a total break of the economy occur, or nuclear war, the population die-off will be vast
farming for generations, would education survive? for how many generations?

 

[marjam]

The day is coming, not to get too religious, but the Bible speaks of money being worthless and being cast into the street. Do I think its imminent, I don't know. We have had hard times show up before, and then it's gotten better. Word of advice to myself and everyone else; if things do improve and you start seeing ammo on the shelves again, you better buy a little each payday. I have a store of ammo but not enough to shoot on a regular basis and still maintain it. If you have guns, ammo, can hunt, fish, and raise vegetables and have access to water somewhere, you are better off than alot of people will be when the apocalypse does get here. The more rural you are, the better off you will be, just my opinion.

 

[Singlestack Wonder]

Eventually unless something changes it's inevitable - downfall of our free market and inflation will eventually become a major issue. The National Dept is something like 28 Trillion and that comes out to about $223k per tax payer. Our Liabilities are already greater than our national assets so on paper we are already upside down.

Either prices go up or you have to print more money - one of which delays the inevitable.

In an end of the world scenario sure I would agree silver and gold are probably worthless, but in an economic depression or collapse of a single country anyone who isn't buying Silver and Gold now will be kicking themselves 20 years from now. I bought a couple rolls of silver 2 years ago at 16 and ounce or roughly 18.5 for silver eagles with the premium. I wish I had bought a lot more as we will soon reach 40 an ounce. IMO

When I read about Hyperinflation in countries like 1920's soviet Russia it's hard not to see we are on the same path. We may not be printing new denominations yet, but we have new alloys of pocket change that is essential worthless and now one cares about. The Penny and Nickel cost the taxpayer more to make then they are worth and the vast majority of the population is clueless. I was actually educating a young man on this very topic today he didn't even know if a Silver Eagle was legal tender and he is our company accountant! Sadly we live in a world at the moment where values are calculated by credits, coins, gems, bitcoin, V-bucks or whatever other number exist in the cloud. It may very well be the future but the transition will be painful for the dollar at the very least.

HH and pull all the silver you can still find!
eman

Reminds me of one the the original Twilight Zone episodes from the 60's. Crooks steal large amount of gold.....retreat to a secret cave where they had a scientist build hibernation chambers. When they wake up many years later they find the gold is a worthless metal.

 

[Tpmetal]

Timeline?

should a total break of the economy occur, or nuclear war, the population die-off will be vast
farming for generations, would education survive? for how many generations?

I do think it will recover to the point of gold being valuable/spendable within 10 years of any crash of the dollar, if not my daughter would benefit if i didn't live to see it. something like nuclear war could be different.

 

[Tpmetal]

I'll Never Buy Organic or Free Range eggs I'm actually used to .99 for an 18 Count Pack of Large Eggs here . Jumbo used to be Cheaper.
I've seen specially wrapped eggs in the Freezer with outrageous prices. No way ! they would have to be Proven to add 100 More years to my Life
to get me to pay those prices for Eggs. I Normally avoid eggs over a Dollar. I Just may stop eating them.
I Had 2 this morning along with an orange and hunk of bologna, instead of my Normal 3 , and bacon and toast,

Purchased Oatmeal & Shredded Wheat for stretching the Dozen eggs to 18 Days instead of 6
May do without Breakfast at times to make them last even longer.

no idea how much milk rose, i never check and remember the price of milk.
or cereals

whats a medium meal at a bk or mcdonalds cost down there? with our minimum wage hike here in ny, a medium quarter pounder meal is 11$. just a few years ago it was 7 or 8

 

[BillA]

I do think it will recover to the point of gold being valuable/spendable within 10 years of any crash of the dollar, if not my daughter would benefit if i didn't live to see it. something like nuclear war could be different.

dollar only? possible
but I think the dollar is fundamental for much international trade and US satrips, could collapse
and to avoid any collapse.....

 

[jeff of pa]

I would never be Fool enough to Buy into Gold at these prices.
when it rises it's only a few pennies or dollars at a time
and sellers charge a premium, and big buyers already take a discount, that makes those increases worthless.

it's like buying used coins from companies like Littleton for an investment folio


you got 500 Years to wait ?

even silver is too volatile right now to purchase. should have bought when a silver dime was worth 25 cents

anyone who bought gold in 1999 / 2000 for $300 was smart to purchase and hold on to it

anyone who bought it recently will never see those increases

 

[Swaveab]

whats a medium meal at a bk or mcdonalds cost down there? with our minimum wage hike here in ny, a medium quarter pounder meal is 11$. just a few years ago it was 7 or 8

There are many reasons why people are leaving New York and California. I'll give you one guess what the root of those reasons are from. Same root reason we're all headed downhill as a nation now. The fact you pay that much at McDonalds is proof of how unreliable the dollar is and it's worse in the areas of the source of the problems.

 

[pepperj]

I'll Never Buy Organic or Free Range eggs I'm actually used to .99 for an 18 Count Pack of Large Eggs here . Jumbo used to be Cheaper.
I've seen specially wrapped eggs in the Freezer with outrageous prices. No way ! they would have to be Proven to add 100 More years to my Life
to get me to pay those prices for Eggs. I Normally avoid eggs over a Dollar. I Just may stop eating them.
I Had 2 this morning along with an orange and hunk of bologna, instead of my Normal 3 , and bacon and toast,

Purchased Oatmeal & Shredded Wheat for stretching the Dozen eggs to 18 Days instead of 6
May do without Breakfast at times to make them last even longer.

no idea how much milk rose, i never check and remember the price of milk.
or cereals

It would be great to do that same thing here, but it's just an option.
Some buy Organic for a few reasons and some just don't really give it much thought of what they consume. We all have that toe tag ending no matter what, but its the journey that is the test. One can hobble, crawl, drag the winkle arse to the finish line suffering countless days of grief to end it. Then there's the ones that run there no problem and are just worn out.

I would buy on the cheap-but the body would last less than a year or two probably. Walking a fine line these past few years - paying for the habit years of playing badly.

Know a fellow that had 1.25 million layers-feed in one end of barn = egg in your hand-nobody ever touch that egg. Now that is mass produced at a buck a dozen.

 

[Trezurehunter]

I agree with most. Having silver and gold will help, but it's not everything. If I need to buy a few chickens or other meat, Mr. Farmer will take my silver bits in exchange. I also have a 1 year supply of MRE's for my wife and I, and they have a 25 year shelf life. My brother owns 240 acres so I have access to hunting, fishing, and gardening property. ( I know not everyone does, I'm lucky) I do own guns. I also own ammunition for guns I no longer own, and this would be a great barter item as long as someone out there needs the same caliber that I have. I am not a falling off the ledge prepper, but I am as prepared as I need to be. I just wish I could get my wife to convert more of our cash into some assets we would need. She was brought up differently than I was, and still thinks cash is king. I say, in the fairly near future she could be using the cash as a fire starter. Everyone has their own thoughts and feelings on this issue, (cash crashing) and these are just mine.

 

[DeepseekerADS]

I was one of the suckers during the Hunt Brother's silver fiasco in the early 80's, put too many bucks into it. But I realized that I shouldn't take a loss then = still have it today. It's much prettier than the silver I bought cheaper since. Sometimes you just gotta stay positive and have a whole lot of patience.

It's hidden somewhere on this 45 acres or so of solitude I have. When I croak it won't be found again maybe forever. Though I should tell one of my children where to look with shovel in hand.

 

[Duckshot]

There are many reasons why people are leaving New York and California. I'll give you one guess what the root of those reasons are from. Same root reason we're all headed downhill as a nation now. The fact you pay that much at McDonalds is proof of how unreliable the dollar is and it's worse in the areas of the source of the problems.

I'm not paying $15 an hour to have somebody filp a burger, put it in a bag, and sweep thier floors. Meanwhile machinery that performs low skill labor is getting less expensive every day. Walmart pretty much announced a doubling of self-check-out capacity the day after announcing raising their minimum wage, which brings on the question"If I check myself out do I get the employee discount?"

This free-range organic bit is sounding better by the minute.

 

[Tpmetal]

I know exactly why we are failing....If I could convince my parents to move to another state I would leave immediately. I will be the one responsible in the family for care, so I am kinda tied to their decisions as well unfortunately

 

[FreeBirdTim]

I'll take gold and silver (or the U.S. dollar) over Bitcoin any day. Not a currency, since it's backed by no one and nothing. Today it's worth 48k, but tomorrow it could be worth 38k. How do you buy a gallon of milk with it? Well, let's see, you owe me 1/1500th of a Bitcoin for that milk! Right. And how is the price determined? Seems odd that it can go down 5k in a matter of minutes and then jump 10k the next day. Sorry, but a lot of people are going to lose a lot of money with cryptos eventually.

 

[RTR]

And they laughed at preppers for how many years now ? LOL
OR, "He who laughs last, laughs best"

 

[Duckshot]

I'll take gold and silver (or the U.S. dollar) over Bitcoin any day. Not a currency, since it's backed by no one and nothing. Today it's worth 48k, but tomorrow it could be worth 38k. How do you buy a gallon of milk with it? Well, let's see, you owe me 1/1500th of a Bitcoin for that milk! Right. And how is the price determined? Seems odd that it can go down 5k in a matter of minutes and then jump 10k the next day. Sorry, but a lot of people are going to lose a lot of money with cryptos eventually.

Yeah, because bit coin's value is measured in dollars anyways.

So, with that in mind, I got a plan, but it would take cooperation. How bouts a barter system. In the past you could not trade the fruit of your labor for the direct goods wanted. But how about this- let's say I make shoes. I could post on a social media site that I got shoes to trade for groceries, or housing or whatever tangible object or sevivice or a portion of a shoe towards such? Then somebody with groceries who needs a pair of shoes could get them. No monetary use at all, just a straight up trade of labor plus materials for services or finished goods. You could not do it with newspapers, but the inter-web posts up quickly enough for such exchange to take place, maybe on a regular basis. All it needs is a board dedicated to it. Imagine if millions of people discovered that they no longer need currency as a medium of exchange? What would the consequences be?

Just keep it private business though, otherwise it would get taxed to death.

 

[pepperj]

I'm not paying $15 an hour to have somebody filp a burger, put it in a bag, and sweep thier floors. Meanwhile machinery that performs low skill labor is getting less expensive every day. Walmart pretty much announced a doubling of self-check-out capacity the day after announcing raising their minimum wage, which brings on the question"If I check myself out do I get the employee discount?"

This free-range organic bit is sounding better by the minute.

The big will alway use the loss leader to crush the smaller independent-but who has the most employed and the least supported-small business.
Everyone is so wrapped up in the dollar savings that they loose by the short tightness of who will be there to employ the folks.

I can't get over the fact the there's millions of top crop lands growing nothing but fuel that probably costs more to produce than what we pay for it at the pumps.
Oh well it's called the subsidy game-the quota game-where we pay into a system to support a system that is so quota'd out it is full of what comes out the backside of the barn-cow flopping mess.

Folks that don't need are the one's that will be ok when it falls-and it will its a pump/pump/pump and it will dump.

The scrap metal prices are getting up there as they did before the 2008-anyone get a butt kicking with that crash?

We had a small bond come due this last year-bank offered me 0.75% Oh so nice of them to keep the money and never give a return.

So we opted to spend a hunk of it on freezers, chickens, harvesting of the Angus, future sustainability of our own food, an one acre plot of berry production that we can use for our own needs, and it will support other families that will pick the fruit of my labour, and do trading of their labour growing goods.
Have a co-op of folks that think/eat/live the same, and one will always have a full belly.