When did people stop burying money?

[fishnnut]

The US Government is almost 19 TRILLION in debt guys...If you think your $$ are backed by the "faith" of the US government and is going be "insured" how do they pay you when they are broke??

 

[Mackaydon]

fishnnut,
Welcome to Treasure Net !!
How can the US Government go broke if they have the ability to continue to print money?
Don......

 

[fishnnut]

Yes they can continue to print $$ and it gets more worthless everytime they print a dollar...Sorry to say but that mentality will not work forever...Every system that has tried this has eventually failed and I am afraid it's coming our way sooner rather than later....

fishnnut,
Welcome to Treasure Net !!
How can the US Government go broke if they have the ability to continue to print money?
Don......

 

[jeff of pa]

Updated 10:55 AM ET, Thu October 8, 2015

 

[diggingthe1]

I think its more a kind of personality type that likes to bury things and thinks the banks are taking their money. There will always be these people. I think there was more of these people in the past with this idea. The way things are going there may be a lot more. Happy Hunting in 2016!

 

[mlayers]

I used to bury my change in a baby food jar in the 60's I do believe I dug them all up but who knows

 

[GA_Boy]

Yes, your savings are insured by the FDIC, up to $250,000.

FDIC insurance is backed by the full faith and credit of the United States government.

And you can trust the US Gubmint----------Ask any native American.
Marvin

 

[T.C.]

The thing is, look how much the dollar has been devalued since say, 1969?? In the not too distant future, you may have to pay $100 for a loaf of bread!! That is the reason to take some of your extra monopoly money and convert it to silver or gold.....and stash it someplace where YOU can get ahold of it immediately!! Banks...I don't think so.

 

[Crappies-n-Coins]

The US Government is almost 19 TRILLION in debt guys...If you think your $$ are backed by the "faith" of the US government and is going be "insured" how do they pay you when they are broke??

Coincidence, or warped sense of humor?

 

[Keppy]

who said they stopped ?

You beat me to that answer ..I was going to say i did not know they stopped ..

 

[fistfulladirt]

I can see that there are no fans of the US dollar here, so just send all of your unwanted dollars to me.
I will bury them for my safe keeping.

 

[T.C.]

I didn't say I wasn't a fan of them....I said they are backed by nothing and have been for a long time.

 

[fishnnut]

Exactly TC and eventually it will take a shopping cart full to buy a candy bar...speaking of that I could buy the biggest candy bar in the store when I was a kid for a nickel and now if you can get a small one on sale for a dollar you would be doing good....just my point...

 

[Trezurehunter]

Hey Fishnnut & TC, Since we are all thinking the same, you guys need to read a book called " Whatever happened to Penny Candy ?" by Michael J. Losier. A very simple to read & understand book on economics. It basically says that our Great Grandparents paid a Nickel for a loaf of bread. Then our Grandparents paid 40 Cents. Then our parents paid 75 Cents. And now we pay around $ 1.00 for the same loaf. Its not because the ingredients have changed, its because the dollar is worth less every year, & it takes more of them to buy the same loaf. My dad used to explain this theory to me back in the late 60's. He should have wrote the book. I think you guys would like this book. I have read it, & every year or so I pull it out & reread it.

Exactly TC and eventually it will take a shopping cart full to buy a candy bar...speaking of that I could buy the biggest candy bar in the store when I was a kid for a nickel and now if you can get a small one on sale for a dollar you would be doing good....just my point...

 

[fistfulladirt]

Eventually, maybe. But right now, my one oz. American Silver Eagle US mint silver round will only buy a $1 candy bar at the store. That's if the cashier even recognizes the coin and accepts it as payment.

 

[T.C.]

Eventually, maybe. But right now, my one oz. American Silver Eagle US mint silver round will only buy a $1 candy bar at the store. That's if the cashier even recognizes the coin and accepts it as payment.

I'll make ya a great deal on candy bars for each 1 oz. silver round that you would like to spend!! You are right though, the clerk would probably not even accept the silver round....especially if they were young!!

 

[fishnnut]

Thanks Trezure I will have to read that..One thing I have to ask ya though, where the heck are you getting a loaf of bread now for a dollar?? The wife and I were at the store here in ND yesterday and they were like 3.99 to 4.99 a loaf...LOL But this is exactly what we are all saying there is nothing backing the worthless paper bills they are printing...Back in the day when our $$ were backed by gold instead of the "faith" of the US government we had something. Today we are getting dollars that are I am afraid are going to be worthless..The government loves nothing better than people to think all is well. Well there is no way we are going to pay off almost 19 TRILLION in debt! If somebody can answer how that is going to go away I would love to hear it..Merry Christmas everybody!

I'll make ya a great deal on candy bars for each 1 oz. silver round that you would like to spend!! You are right though, the clerk would probably not even accept the silver round....especially if they were young!!

 

[fistfulladirt]

I'll make ya a great deal on candy bars for each 1 oz. silver round that you would like to spend!! You are right though, the clerk would probably not even accept the silver round....especially if they were young!!

My point is, you and I both know what that coin is worth. Like maybe seven gallons of gas. But you'd have to first cash it in for fiat paper.

In real life it might buy a candy bar. Good luck

 

[T.C.]

In real life tho, some people would rather have the silver and gold.....

 

[mlayers]

you can get a loaf of white bread for a buck at WalMart