Gold just hit $1600 per ounce. How high can it go? - Page 3 - GoFuckYourself.com

DWB · 07-19-2011, 05:57 AM

Quote:

Originally Posted by Vendot

Really? Thats scary. I cant imagine that happening in a todays depression. Somehow, I imagine that we have moved on from that.... but maybe im naive.

Well, maybe. Do a very basic walk through on a "worst case scenario." No telling if the worst will happen, but for the sake of being prepared, say it does.

Lets say you wake up tomorrow and the USD has lost most of its value. What happens next?

1) There will be a run on the banks. Everyone will want whatever cash they do have that is sitting in the bank, be it $300 or $300,000. But the bank may as well be handing out toilet paper. But there is a better chance they won't be open at all. And if they are, they either won't have money to give everyone, and the money they do have is now worthless.

2) With the collapse of the currency, all the other items you use in your life did not crash with it. Instead, they just got REALLY expensive. So what little money, if any, that you do have, it doesn't buy much. So how do you eat, pay for fuel, pay your car payment, insurance, pay your rent / mortgage and taxes? Oh yea, banks and the IRS are still going to want to be paid, as shitty as that may be.

How will you function with money that is hardly worth anything and everything around you is too expensive to buy?

So now what? You sit around broke until someone comes up with a solution to get everything back on track again. Maybe you've lost your home and your car. Where will you be living if you do?

Were you lucky enough to keep your job to at least have a little bit of money coming in? If not, you're doubled screwed. Chances are you will lose your job.

3) Everything is finally getting back on track. Whew. Be it a new currency or due to hyperinflation they print new bills that are 1 Million Dollar Notes. However, it now costs 2 Million USD to buy a gallon of milk. But if you lost all your dollars already, how do you get your hands on such large notes in enough quantity for you to keep on living your life?

And what if a new currency is introduced? How will you get your hands on that? No one is just going to give it to you. Your bank isn't going to give you what you lost in a new currency. You won't get any unless you have something that you can buy it with or trade for it. That means you now live in poverty and there is no more middle class. Only those who prepared or were lucky enough to have some sort of assets to trade for this new currency will be getting any of this new currency. Of course, criminals would also be getting some of it because they will be stealing it from those who can not protect themselves.

So where will you end up if such a thing happens? It will be a soup line and shelter for many. Not everyone of course, as many will be prepared and many fat cats will know how to profit from it all, but if you don't know what to do and do nothing, don't prepare at all... that is the type of person who is probably going to lose everything.

Of course it may not be a worse case scenario and everyone will be fine. But if you look back in history, these sort of things happen and they happen fast without warning. The good news is, the countries always rebound even after a total meltdown. But those who lose it all in the process, are still left holding their ass.

Just go back and look at history if you want to know what will happen.

wig · 07-19-2011, 06:11 AM

Quote:

Originally Posted by DWB

Well, maybe. Do a very basic walk through on a "worst case scenario." No telling if the worst will happen, but for the sake of being prepared, say it does.

Lets say you wake up tomorrow and the USD has lost most of its value. What happens next?

1) There will be a run on the banks. Everyone will want whatever cash they do have that is sitting in the bank, be it $300 or $300,000. But the bank may as well be handing out toilet paper. But there is a better chance they won't be open at all. And if they are, they either won't have money to give everyone, and the money they do have is now worthless.

2) With the collapse of the currency, all the other items you use in your life did not crash with it. Instead, they just got REALLY expensive. So what little money, if any, that you do have, it doesn't buy much. So how do you eat, pay for fuel, pay your car payment, insurance, pay your rent / mortgage and taxes? Oh yea, banks and the IRS are still going to want to be paid, as shitty as that may be.

How will you function with money that is hardly worth anything and everything around you is too expensive to buy?

So now what? You sit around broke until someone comes up with a solution to get everything back on track again. Maybe you've lost your home and your car. Where will you be living if you do?

Were you lucky enough to keep your job to at least have a little bit of money coming in? If not, you're doubled screwed. Chances are you will lose your job.

3) Everything is finally getting back on track. Whew. Be it a new currency or due to hyperinflation they print new bills that are 1 Million Dollar Notes. However, it now costs 2 Million USD to buy a gallon of milk. But if you lost all your dollars already, how do you get your hands on such large notes in enough quantity for you to keep on living your life?

And what if a new currency is introduced? How will you get your hands on that? No one is just going to give it to you. Your bank isn't going to give you what you lost in a new currency. You won't get any unless you have something that you can buy it with or trade for it. That means you now live in poverty and there is no more middle class. Only those who prepared or were lucky enough to have some sort of assets to trade for this new currency will be getting any of this new currency. Of course, criminals would also be getting some of it because they will be stealing it from those who can not protect themselves.

So where will you end up if such a thing happens? It will be a soup line and shelter for many. Not everyone of course, as many will be prepared and many fat cats will know how to profit from it all, but if you don't know what to do and do nothing, don't prepare at all... that is the type of person who is probably going to lose everything.

Of course it may not be a worse case scenario and everyone will be fine. But if you look back in history, these sort of things happen and they happen fast without warning. The good news is, the countries always rebound even after a total meltdown. But those who lose it all in the process, are still left holding their ass.

Just go back and look at history if you want to know what will happen.

If someone even believed that there will be sustained printing of money let alone hyperinflation, then the appropriate thing to do now is to borrow as much as you can and leverage yourself into assets such as real estate, gold, commodities, stock, etc.

DWB · 07-19-2011, 06:23 AM

Quote:

Originally Posted by wig

If someone even believed that there will be sustained printing of money let alone hyperinflation, then the appropriate thing to do now is to borrow as much as you can and leverage yourself into assets such as real estate, gold, commodities, stock, etc.

And there is the million dollar question, will that happen?

You are 100% dead on the money about what to be doing if you think it will. Those who play it right stand to make a lot of money and come out of such a crash a very wealthy person.

There is no doubt something will happen. Just to what degree is anyone's guess at this point.

Agent 488 · 07-19-2011, 08:16 AM

https://docs.google.com/Doc?id=dtxqwqr_20dc52sm

dyna mo · 07-19-2011, 08:44 AM

i will state ftr, that it will never happen.

greece bailout + all world markets hit hard when u.s. market collapsed 3 years ago = u.s. saved at all costs.

Emil · 07-19-2011, 09:10 AM

Quote:

Originally Posted by dyna mo

i will state ftr, that it will never happen.

greece bailout + all world markets hit hard when u.s. market collapsed 3 years ago = u.s. saved at all costs.

The world cant accept dollars forever if the Fed just keeps printing them out of thin air.
Why should someone work hard for the money that just was printed up and is losing value all the time?
People that got a lot of USDs saved up is going to exchange them into gold/silver or other currencies because they know they will lose too much of their savings if they dont.
A couple of years ago 1 USD was worth more than 10 SEK. Now it's worth about 6.5 SEK and that's a huge drop! It was nearly under 6.0 a couple of months ago!
This is heading for a world wide disaster and it will come sooner or later. That "We're too big to fail" is just bullshit.

dyna mo · 07-19-2011, 09:27 AM

Quote:

Originally Posted by Emil

The world cant accept dollars forever if the Fed just keeps printing them out of thin air.
Why should someone work hard for the money that just was printed up and is losing value all the time?
People that got a lot of USDs saved up is going to exchange them into gold/silver or other currencies because they know they will lose too much of their savings if they dont.
A couple of years ago 1 USD was worth more than 10 SEK. Now it's worth about 6.5 SEK and that's a huge drop! It was nearly under 6.0 a couple of months ago!
This is heading for a world wide disaster and it will come sooner or later. That "We're too big to fail" is just bullshit.

it will be up to your country and those along side yours, want your economy to shit bricks too, then all y'all let the u.s. collapse. your call. you rode us up during the goods times, you'll be right there when it all takes a shit, your comments prove that, your currency is inextricably tied to ours.

Houdini · 07-19-2011, 11:19 AM

Hope no one went long this morning.

DWB · 07-19-2011, 03:40 PM

Quote:

Originally Posted by dyna mo

it will be up to your country and those along side yours, want your economy to shit bricks too, then all y'all let the u.s. collapse. your call. you rode us up during the goods times, you'll be right there when it all takes a shit, your comments prove that, your currency is inextricably tied to ours.

It's going to take a handful of other countries with it. No doubt about it.

DWB · 07-19-2011, 03:49 PM

Quote:

Originally Posted by Jesus H Christ

The good news is I also don't believe there will be any type of Madmax scenario's or mass tent cities because there are millions of empty houses. Soup lines will be replaced by food debit cards as the Fed pays directly to Grocers etc. There won't be mass home evictions because 8-10 banks hold the majority of the debt and 2/3's will also fail, the downside of deregulating bank mergers.

Agent 488 posted a great article on the prediction, but Russia, Germany, and China have build solid financial foundations due to the brutal alternative from failed wars and political ideologies. Matter of fact, they bounced back stronger because they were able to drop minority and political special interests, PC bullshit, and attention whoring politicians.

I've been to post Soviet Russia many times and they had a total collapse, political ideology was replaced and then another financial collapse in the late 90's. This wasn't a scenario, people rushed to the banks to get their money only to find out it was gone. The Russians bounced back in 5-6 years because Russians are perfectionists at enduring and suffering. The Russians collectively understood the problem and still went to work in "hopes" of getting a paycheck months later and eventually got their economy back on track and prospered.

The bad news. As proud as Americans think we are, there's no way Americans will work 9-5 for months in hope of getting paid because we're an instant gratification society. We can't do like the Russians because we've grown fat with delusional entitlements, cast and social disdain, segregated by religion, ethnicity, and political beliefs.

Serious bad news. If banking collapses the States and local Gov's will abandon social services, 3.5 million Americans are incarcerated, most will be released and many looking for a little payback and criminal opportunity. Plus the fact we are the most heavily armed society in the world will insure forms of violence and vigilantism.

You see Americans don't have grounded cultural historical roots as deep as the Russians, Chinese, or Germans to were we can ALL rally to the greater core good. Our fundamental core can pull together if there's an outside threat, but our biggest problem "obviously" is from within. In short, liberalism is a luxury for wealthy societies, but serves no purpose when you're broke.

I agree with everything you said except for people losing their homes. People are already losing their homes, wait until whatever money they do have is only worth 20% of what it was the day before and they can no longer afford it. However, you're right about the empty homes, they will become homes of squatters. But you're also going to see a lot of tents for those who have nothing and couldn't secure a house to squat in.

Doesn't Florida already have a tent area set up for people who have lost their homes? I saw something about it somewhere recently.

alias · 07-19-2011, 04:47 PM

Outcasts: Tonight Tens Of Thousands Of Formerly Middle Class Americans Will Be Sleeping In Their Cars, In Tent Cities Or On The Streets

alias · 07-19-2011, 05:04 PM

I suggest starting ukash agents for your sites in the tent villages, it will be just like southpark when they have to go out west for internet.

wig · 07-19-2011, 06:21 PM

Quote:

Originally Posted by Jesus H Christ

The dollar has already lost 30% of it's value...

What are you using to measure this?

.

wig · 07-19-2011, 07:15 PM

Quote:

Originally Posted by Jesus H Christ

I read it a month ago and tried to find it before I posted because the source was reputable to the point, I actually remembered the figure. I'm not truly certain, but it was for sure not a blog, RT.com, or some other BS source. WTS, I do read a lot of difference sources daily and hit fark, drudge, and many different Canadian news sources. When I find it again i'll post it.

Okay, just curious. Wasn't sure whether you were using CPI or a derivative or some other measure, and over what period of time you were measuring.

.

DWB · 07-20-2011, 10:50 PM

Quote:

Originally Posted by Jesus H Christ

Tomorrow is going to suck on WallStreet.

A call to action: EU leaders must act to save the euro and avoid a recession:

Thirteen European economists have written an open letter to European leaders, imploring them to take decisive action on the eurozone crisis when they meet on Thursday. Here is their letter in full:

A call to action: EU leaders must act to save the euro and avoid a recession
The eurozone crisis is coming to a head. This column is an open letter to European leaders imploring them to take decisive action this week. Any more delays could mark the end of the Eurozone as we know it.

The debt crisis has reached the core of the Eurozone.

?Italy and Spain are now directly involved in a serious credibility crisis.

?The creditworthiness of more than one-third of the Eurozone is being challenged

Yes, but all of that is nothing to worry about. Same with the USD.

Just put your faith in your government and know that your country is too big to fail. They would NEVER let it happen. Never, ever.

</sarcasm>

kane · 07-21-2011, 11:16 AM

Quote:

Originally Posted by Jesus H Christ

Tomorrow is going to suck on WallStreet.

A call to action: EU leaders must act to save the euro and avoid a recession:

Thirteen European economists have written an open letter to European leaders, imploring them to take decisive action on the eurozone crisis when they meet on Thursday. Here is their letter in full:

A call to action: EU leaders must act to save the euro and avoid a recession
The eurozone crisis is coming to a head. This column is an open letter to European leaders imploring them to take decisive action this week. Any more delays could mark the end of the Eurozone as we know it.

The debt crisis has reached the core of the Eurozone.

?Italy and Spain are now directly involved in a serious credibility crisis.

?The creditworthiness of more than one-third of the Eurozone is being challenged

The dow is up 146 points so far. I have given up trying to predict what will make it rise and what ill make it crash.

07-19-2011, 04:47 PM	#111
alias aliasx Join Date: Apr 2001 Posts: 19,010	Outcasts: Tonight Tens Of Thousands Of Formerly Middle Class Americans Will Be Sleeping In Their Cars, In Tent Cities Or On The Streets __________________ https://porncorporation.com

07-19-2011, 08:16 AM	#104
Agent 488 Registered User Industry Role: Join Date: Feb 2006 Posts: 22,511	https://docs.google.com/Doc?id=dtxqwqr_20dc52sm

07-19-2011, 08:44 AM	#105
dyna mo The People's Post Industry Role: Join Date: Dec 2008 Location: invisible 7-11 Posts: 64,785	i will state ftr, that it will never happen. greece bailout + all world markets hit hard when u.s. market collapsed 3 years ago = u.s. saved at all costs.

07-19-2011, 11:19 AM	#108
Houdini Confirmed User Join Date: Dec 2001 Location: SoCal Posts: 1,651	Hope no one went long this morning.

07-19-2011, 05:04 PM	#112
alias aliasx Join Date: Apr 2001 Posts: 19,010	I suggest starting ukash agents for your sites in the tent villages, it will be just like southpark when they have to go out west for internet.